QCR Holdings beats Q4 adjusted EPS estimates

Overview

• Multi-bank holding company's Q4 adjusted EPS beat analyst expectations

• Adjusted net income for Q4 beat analyst expectations

• Company completed $285.3 mln LIHTC construction loan sale

Outlook

• Company expects first-quarter loan growth of 8% to 10%

• QCR Holdings guides first-quarter NIM TEY increase of 3 to 7 basis points

• Company raises capital markets revenue guidance to $55 to $70 mln over next four qtrs

Result Drivers

• NET INTEREST INCOME - QCR Holdings reported net interest income of $68.4 mln, driven by NIM expansion and strong loan growth

• LIHTC LOAN SALE - Successful $285.3 mln LIHTC construction loan sale improved funding costs and future NIM

• CAPITAL MARKETS REVENUE - Strong capital markets revenue of $24.5 mln in Q4, driven by LIHTC lending

Key Details

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 3.3% above its January 26 closing price of $87.17

• The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago

Press Release: ID:nGNX79yJXW

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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.)