Overview
QCR Holdings Q3 adjusted EPS of $2.17 beats analyst expectations
Company reports record Q3 net income of $36.7 mln, driven by capital markets revenue
QCR Holdings authorizes new share repurchase program for up to 1.7 mln shares
Outlook
Company anticipates fourth-quarter NIM TEY increase of 3 to 7 basis points
Company increases capital markets revenue guidance to $55-$65 mln over next four quarters
Company expects 10%-15% gross loan growth in final quarter of the year
Result Drivers
CAPITAL MARKETS REVENUE - Co reports 141% increase in capital markets revenue on a linked-quarter basis
LOAN GROWTH - Co reports 15% annualized loan growth, driven by LIHTC and traditional lending
NET INTEREST INCOME - Co attributes 18% annualized growth in net interest income to strong earning asset growth and stable cost of funds
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Adjusted EPS | Beat | $2.17 | $1.74 (5 Analysts) |
Q3 EPS | $2.16 | ||
Q3 Adjusted Net Income | Beat | $36.90 mln | $29.60 mln (4 Analysts) |
Q3 Net Income | $36.70 mln | ||
Q3 Net Interest Income | $64.80 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for QCR Holdings Inc is $90.00, about 20.9% above its October 21 closing price of $71.20
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago
Press Release: ID:nGNX6PHdxp
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)