Intangible Valuation
Value, contrarian, coat tail rider, idiosyncratic research

QCR Holdings: Increasing Scale, At A Discount

QCR Holdings (NASDAQ:QCRH) is a multibank holding company focusing on commercial lending. With earnings of $9.1 million for 2012 and a market capitalization of $75 million, the current price is pretty attractive, offering an earnings yield of 12.1%, a 12% discount to tangible book, and a dividend yielding 0.53%. Further, we have a bank which has been steadily increasing its scale since its founding in 1993:

QCR Holdings has established a satisfactory provision for losses and the size of the most recent earnings is likely to be representative of future earnings. If the corporation's loan portfolio is fairly represented in the most recent filings, it would seem that QCR Holdings could easily sell at tangible book (a capital...

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
PRO Top long ideas returned 21.7% in 2016**
"As a PRO member, we get uniquely valuable perspective that go beyond our quantiative analysis... We rely on PRO to get beyond the numbers quickly and add much needed perspective. It keeps me ahead of the next big thing. - Mark Choate, Malaga Cove Capital"
Mark Choate, Malaga Cove Capital
"Contributors (writers and commentators), often have a long history in the secuirities they opine on and some are clearly well positioned industry participants with detailed industry views that can help provide color on where the skeletons are buried in a particular secuirity and/or industry."
Jim Roumell, Roumell Asset Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details