QCR (QCRH) Lifted to Sell at ValuEngine

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QCR (NASDAQ:QCRH) was upgraded by equities researchers at ValuEngine from a “strong sell” rating to a “sell” rating in a note issued to investors on Monday.

QCRH has been the topic of several other reports. BidaskClub cut QCR from a “sell” rating to a “strong sell” rating in a report on Friday, September 14th. Piper Jaffray Companies reiterated a “buy” rating and issued a $52.00 target price on shares of QCR in a report on Monday, July 23rd. Two equities research analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $53.60.

Shares of QCRH stock opened at $35.67 on Monday. QCR has a one year low of $34.25 and a one year high of $49.60. The company has a market capitalization of $546.84 million, a P/E ratio of 13.41, a P/E/G ratio of 1.12 and a beta of 0.40. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.98.

QCR (NASDAQ:QCRH) last announced its earnings results on Monday, October 29th. The bank reported $0.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.22). QCR had a net margin of 20.84% and a return on equity of 11.54%. The company had revenue of $47.12 million during the quarter, compared to the consensus estimate of $45.06 million. As a group, sell-side analysts anticipate that QCR will post 3.11 EPS for the current fiscal year.

In related news, CEO Thomas D. Budd sold 824 shares of the company’s stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $43.00, for a total value of $35,432.00. Following the sale, the chief executive officer now directly owns 2,116 shares in the company, valued at $90,988. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.80% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of QCRH. Maltese Capital Management LLC acquired a new position in QCR in the second quarter valued at approximately $10,306,000. Dimensional Fund Advisors LP lifted its stake in QCR by 22.0% in the second quarter. Dimensional Fund Advisors LP now owns 447,660 shares of the bank’s stock valued at $21,242,000 after buying an additional 80,850 shares during the period. Renaissance Technologies LLC raised its position in shares of QCR by 18.6% during the second quarter. Renaissance Technologies LLC now owns 510,700 shares of the bank’s stock worth $24,233,000 after purchasing an additional 80,200 shares during the period. BlackRock Inc. raised its position in shares of QCR by 7.3% during the second quarter. BlackRock Inc. now owns 1,119,175 shares of the bank’s stock worth $53,102,000 after purchasing an additional 76,115 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in shares of QCR during the third quarter worth approximately $1,786,000. 56.99% of the stock is currently owned by hedge funds and other institutional investors.

QCR Company Profile

QCR Holdings, Inc, a multi-bank holding company, provides commercial and consumer banking, and trust and asset management services. The company operates through Commercial Banking and Wealth Management segments. Its deposit products include noninterest and interest-bearing demand, time, and brokered time deposits.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for QCR (NASDAQ:QCRH)

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