MOLINE, Ill. - QCR Holdings , Inc. (NASDAQ: NASDAQ:QCRH) has confirmed the re-election of four Class I directors during its annual stockholders' meeting. Mary Kay Bates, John-Paul E. Besong, Todd A. Gipple, and Donna J. Sorenson will serve on the board for another three-year term.
In addition to the re-elections, the company's Board of Directors has declared a cash dividend of $0.06 per share, which will be payable on July 3, 2024, to shareholders of record as of June 14, 2024.
QCR Holdings, Inc., a multi-bank holding company, operates through its subsidiary banks across various communities. The company's banks offer a range of commercial, consumer banking, trust, and wealth management services. With 36 locations across Iowa, Missouri, Wisconsin, and Illinois, QCR Holdings has established a significant presence in the region.
As of March 31, 2024, QCR Holdings reported $8.6 billion in assets, $6.6 billion in loans, and $6.8 billion in deposits. The company has experienced growth through both organic means and strategic acquisitions, including the merger of Guaranty Bank with Springfield First Community (NASDAQ:FCCO) Bank in 2022.
The re-election of the directors and the announcement of the dividend are based on a press release statement from QCR Holdings, Inc. The company's continued performance and governance decisions are of interest to shareholders and the financial community, as they reflect the stability and strategic direction of the company.
InvestingPro Insights
QCR Holdings, Inc. (NASDAQ: QCRH) is navigating the financial landscape with a number of positive indicators that may influence investor perception. According to InvestingPro data, the company boasts a market capitalization of $1010M USD and has maintained a relatively low P/E ratio of 8.84, which is slightly adjusted to 8.9 when considering the last twelve months as of Q1 2024. This valuation metric suggests that the company is trading at a low price relative to its near-term earnings growth, potentially offering an appealing entry point for value investors.
Furthermore, QCRH has demonstrated a commitment to its shareholders by maintaining dividend payments for 23 consecutive years, a testament to its financial stability and consistent performance. The dividend yield as of the latest data stands at 0.4%, with a history of reliability that may comfort income-seeking investors.
Revenue growth remains modest, with a 5.98% increase over the last twelve months as of Q1 2024, indicating a steady expansion in the company's financials. This is aligned with the company's strategic growth through acquisitions and organic development. Although there has been a slight quarterly revenue decline of -0.17%, the overall trend appears positive.
For those interested in a more in-depth analysis, InvestingPro offers additional InvestingPro Tips that delve into the company's performance metrics and future expectations. Currently, there are 9 more tips available, providing a comprehensive outlook on QCRH's financial health and potential investment opportunities. To explore these insights further, investors can visit InvestingPro at https://www.investing.com/pro/QCRH and use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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