The EPS miss vs consensus may pressure the stock near-term, but the underlying business momentum (NIM expansion, robust loan growth, improving asset quality, strong capital markets pipeline) provides a positive counterweight. Watch the Q4 earnings call for updates on deposit repricing dynamics and the pace of LIHTC loan securitizations, which will determine whether the NIM can hold or expand further.
Price Chart
Executive Summary
QCR Holdings reported Q3 2026 diluted EPS of $2.21, a miss vs consensus of $2.31 (-4.4%), with net income essentially flat YoY at $36.4M. However, the miss was driven by higher incentive compensation and a core system conversion, while underlying trends were strong: NIM TEY expanded 3bps to 3.58%, loan growth ex-m2 was 11% annualized, capital markets revenue rose 10% QoQ to $16.9M, and NPAs improved to a two-year low of 0.39%. The company reaffirmed gross loan growth guidance of 10-15% annualized for Q4 and capital markets revenue guidance of $60-70M over the next four quarters. The EPS miss is notable but the operational momentum and asset quality improvement are positive offsets.
Key Financial Metrics
Key Facts
- Diluted EPS of $2.21 vs consensus $2.31 (-4.4% miss), net income $36.4M vs $36.7M YoY
- Net interest income $68.7M, up 5% annualized QoQ; NIM TEY expanded 3bps to 3.58%
- Loan growth ex-m2 of 11% annualized; gross loan growth guidance reaffirmed at 10-15% annualized for Q4
- Capital markets revenue $16.9M, up 10% QoQ; guidance reaffirmed at $60-70M over next four quarters
- NPAs improved to 0.39% of total assets, the lowest level in two years; criticized loans fell to 1.67%
- Share repurchases of $9.5M (94,861 shares) during the quarter; $65.5M returned since 2025
- TBV per share grew 11% YoY to $61.79; CET1 ratio improved 33bps to 11.01%
Financial Impact
EPS miss of ~$0.10 vs consensus, but offset by strong operational metrics and reaffirmed guidance
Risk Factors
- EPS miss vs consensus could trigger short-term selling pressure
- Deposit outflows from correspondent banking timing could recur; total deposits fell $214M QoQ
- NIM guidance of 'relatively static' for Q4 limits near-term net interest income growth visibility
- Higher incentive compensation and system conversion costs may keep expense growth elevated
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-117409 |
| Document: qcrh-20261020x8k.htm | 0001104659-26-117409 |
| Document: 0001104659-26-117409-index-headers.html | 0001104659-26-117409 |
| Document: 0001104659-26-117409-index.html | 0001104659-26-117409 |
| Document: 0001104659-26-117409.txt | 0001104659-26-117409 |
| 8-K Data (Synthetic) | 0001104659-26-117409 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 7d ago | 8-K | $99.47 $103.04 | ▲ +3.59% | ▲ +4.77% | $103.10 (+3.65%) |
Oct 20, 2026 7d ago | 8-K | $99.47 $103.04 | ▲ +3.59% | ▲ +4.77% | $103.10 (+3.65%) |
Oct 20, 2026 7d ago | Press Release | $99.47 $103.04 | ▲ +3.59% | ▲ +4.77% | $103.10 (+3.65%) |
Sep 30, 2026 27d ago | Press Release | $99.26 | awaiting T+1 | — | $103.10 (+3.87%) |
Aug 24, 2026 9w ago | 8-K | $100.90 $99.98 | ▼ −0.91% | ▼ −1.23% | $103.10 (+2.18%) |
Jun 11, 2026 19w ago | Institutional Cluster | $96.38 $96.33 | ▲ +0.05% | ▲ +0.59% | $103.10 (−6.97%) |
May 26, 2026 22w ago | 8-K | $91.40 $91.38 | ▼ −0.02% | ▼ −0.57% | $103.10 (+12.80%) |
May 22, 2026 22w ago | S-3ASR | $92.49 $91.62 | ▼ −0.94% | ▼ −0.90% | $103.10 (+11.47%) |
Apr 22, 2026 26w ago | 8-K | $88.56 $88.39 | ▼ −0.19% | ▼ −0.98% | $103.10 (+16.42%) |
Apr 22, 2026 26w ago | 8-K | $88.56 $88.39 | ▲ +0.19% | ▲ +0.98% | $103.10 (−16.42%) |
US Market Status
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