QCR (NASDAQ:QCRH) Sets New 52-Week High Following Dividend Announcement

QCR Holdings, Inc. (NASDAQ:QCRH - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday following a dividend announcement from the company. The company traded as high as $94.90 and last traded at $94.90, with a volume of 581 shares. The stock had previously closed at $92.67.

The newly announced dividend which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be issued a $0.06 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.26%. QCR's payout ratio is currently 3.48%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $82.00 price target (up from $70.00) on shares of QCR in a report on Monday, July 29th.

QCR Stock Up 0.6 %

The firm's 50 day simple moving average is $80.39 and its 200-day simple moving average is $70.47. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 13.45 and a beta of 0.93. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.02 and a quick ratio of 0.99.

QCR (NASDAQ:QCRH - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The bank reported $1.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.49 by $0.29. The firm had revenue of $152.58 million during the quarter, compared to analysts' expectations of $84.00 million. QCR had a return on equity of 12.92% and a net margin of 19.25%. During the same period in the prior year, the firm earned $1.51 EPS. As a group, sell-side analysts anticipate that QCR Holdings, Inc. will post 6.73 earnings per share for the current year.

Insider Activity

In related news, CAO Nick W. Anderson sold 675 shares of the firm's stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $81.93, for a total transaction of $55,302.75. Following the transaction, the chief accounting officer now owns 782 shares of the company's stock, valued at $64,069.26. This trade represents a 46.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 3.70% of the company's stock.

Institutional Trading of QCR

Hedge funds have recently added to or reduced their stakes in the stock. Innealta Capital LLC purchased a new stake in shares of QCR in the second quarter valued at about $35,000. Lazard Asset Management LLC purchased a new stake in QCR in the 1st quarter valued at approximately $43,000. Point72 Asset Management L.P. acquired a new position in QCR during the 3rd quarter worth approximately $54,000. Quest Partners LLC purchased a new position in shares of QCR during the 3rd quarter worth approximately $62,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of QCR in the 3rd quarter valued at approximately $65,000. 70.01% of the stock is owned by institutional investors and hedge funds.

About QCR

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.