Raymond James Lowers QCR (NASDAQ:QCRH) Price Target to $82.00

QCR (NASDAQ:QCRH) had its price objective decreased by analysts at Raymond James from $95.00 to $82.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the bank’s stock. Raymond James’ price objective indicates a potential upside of 14.77% from the stock’s previous close.

QCR Stock Performance

QCRH traded down $0.37 during trading hours on Wednesday, hitting $71.45. The stock had a trading volume of 24,023 shares, compared to its average volume of 70,011. The stock has a market cap of $1.21 billion, a PE ratio of 10.65 and a beta of 0.98. QCR has a 1 year low of $54.37 and a 1 year high of $96.08. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.67. The company’s fifty day simple moving average is $75.35 and its 200 day simple moving average is $79.84.

QCR (NASDAQ:QCRH) last posted its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.19. QCR had a net margin of 19.06% and a return on equity of 12.68%. Equities analysts anticipate that QCR will post 6.82 earnings per share for the current year.

Insiders Place Their Bets

In other QCR news, insider James D. Klein sold 630 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $73.40, for a total value of $46,242.00. Following the completion of the transaction, the insider now directly owns 428 shares of the company’s stock, valued at $31,415.20. This trade represents a 59.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Nicole A. Lee acquired 1,094 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was acquired at an average price of $78.47 per share, for a total transaction of $85,846.18. Following the transaction, the executive vice president now directly owns 1,881 shares of the company’s stock, valued at $147,602.07. This represents a 139.01 % increase in their position. The disclosure for this purchase can be found here. 3.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On QCR

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC bought a new stake in QCR in the 4th quarter worth approximately $35,000. Lazard Asset Management LLC grew its stake in shares of QCR by 3,042.1% during the fourth quarter. Lazard Asset Management LLC now owns 597 shares of the bank’s stock valued at $48,000 after buying an additional 578 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of QCR in the third quarter worth about $54,000. R Squared Ltd bought a new stake in shares of QCR in the 4th quarter valued at about $64,000. Finally, Point72 DIFC Ltd purchased a new stake in QCR during the 3rd quarter valued at about $65,000. 70.01% 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’s deposit products include noninterest-bearing demand, interest-bearing demand, time, and brokered deposits. It also provides various commercial and retail lending/leasing, and investment services to corporations, partnerships, individuals, and government agencies.