Maxim Group Sticks to Its Buy Rating for QCR Holdings (QCRH)


In a report released today, Michael Diana from Maxim Group reiterated a Buy rating on QCR Holdings (QCRH), with a price target of $38. The company’s shares closed on Friday at $33.60.

Diana observed:

“QCRH reported 1Q19 adjusted (core) EPS of $0.82, versus consensus of $0.83, due to a much lower NIM (down 23bps). We are lowering our price target to $38, from $43, based on our new 2020 EPS estimate of $3.70. Our new price target equates to a 2020E P/E multiple of 10.3x (versus a 2019E P/E multiple of 11.7x for our previous price target), which is inline with the average of relevant Small-Cap Bank peers. In the past three years, QCRH has made three successful acquisitions, in Springfield, Missouri. As QCRH typically allows acquired banks to be run relatively independently, it is perceived by prospective targets as a favorable M&A partner. We expect QCRH to make more acquisitions.”

According to TipRanks.com, Diana is a 5-star analyst with an average return of 6.2% and a 60.9% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Manhattan Bridge Capital Inc, and Arlington Asset Investment.

Currently, the analyst consensus on QCR Holdings is a Moderate Buy with an average price target of $40.50, implying a 20.5% upside from current levels. In a report issued on April 25, Stephens also maintained a Buy rating on the stock with a $39 price target.

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Based on QCR Holdings’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $13.32 million. In comparison, last year the company had a net profit of $10.55 million.

Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock. Last month, John H. Anderson, the President of QCRH sold 3,069 shares for a total of $104,960.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

QCR Holdings, Inc. operates as a multi-bank holding company which engages in the provision of commercial banking services. It operates through the following segments: Commercial Banking, Wealth Management and All Other.

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