Meeder Asset Management Inc. Purchases Shares of 4,720 QCR Holdings, Inc. (NASDAQ:QCRH)

Key Points

• Meeder Asset Management Inc. has acquired 4,720 shares of QCR Holdings, Inc. valued at approximately $337,000 as part of a recent investment in the company.
• Several large institutional investors have significantly increased their holdings in QCR Holdings, with JPMorgan Chase & Co. lifting its stake by 10.3% to own over 465,000 shares.
• Analysts have raised their ratings on QCR Holdings, with Piper Sandler increasing their target price from $88.00 to $92.50, contributing to a current consensus rating of "Moderate Buy."

Meeder Asset Management Inc. purchased a new stake in shares of QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 4,720 shares of the bank's stock, valued at approximately $337,000.

Several other institutional investors and hedge funds have also recently modified their holdings of QCRH. Lazard Asset Management LLC lifted its position in QCR by 3,042.1% in the fourth quarter. Lazard Asset Management LLC now owns 597 shares of the bank's stock valued at $48,000 after buying an additional 578 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in QCR during the fourth quarter worth about $237,000. Hohimer Wealth Management LLC increased its stake in QCR by 4.9% during the first quarter. Hohimer Wealth Management LLC now owns 3,489 shares of the bank's stock worth $249,000 after purchasing an additional 164 shares during the period. LPL Financial LLC purchased a new stake in QCR during the fourth quarter worth about $263,000. Finally, Virtus Investment Advisers Inc. purchased a new stake in QCR during the fourth quarter worth about $282,000. Institutional investors and hedge funds own 70.01% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Raymond James Financial set a $78.00 price target on shares of QCR and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Piper Sandler raised their price objective on shares of QCR from $88.00 to $92.50 and gave the stock an "overweight" rating in a report on Monday. Wall Street Zen upgraded shares of QCR from a "sell" rating to a "hold" rating in a research note on Saturday. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $92.00 price target (up from $90.00) on shares of QCR in a report on Friday, July 25th. Finally, DA Davidson lifted their price objective on QCR from $80.00 to $87.00 and gave the company a "buy" rating in a report on Friday, July 25th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $87.38.

QCR Price Performance

Shares of QCRH stock traded down $0.82 during mid-day trading on Wednesday, reaching $71.82. The stock had a trading volume of 131,886 shares, compared to its average volume of 123,331. QCR Holdings, Inc. has a 12-month low of $60.83 and a 12-month high of $96.08. The company has a market cap of $1.22 billion, a P/E ratio of 10.82 and a beta of 0.80. The business has a 50-day simple moving average of $69.57 and a 200 day simple moving average of $71.36. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.42.

QCR (NASDAQ:QCRH - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The bank reported $1.73 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.10. The firm had revenue of $84.20 million during the quarter, compared to analysts' expectations of $95.11 million. QCR had a return on equity of 11.86% and a net margin of 19.43%. On average, sell-side analysts anticipate that QCR Holdings, Inc. will post 6.82 earnings per share for the current year.

QCR Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 18th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date was Wednesday, June 18th. QCR's dividend payout ratio is presently 3.61%.

QCR Company Profile

QCR Holdings, Inc, a multi-bank holding company, provides commercial and consumer banking, and trust and asset management services. The company's deposit products include noninterest-bearing demand, interest-bearing demand, time, and brokered deposits. It also provides various commercial and retail lending/leasing, and investment services to corporations, partnerships, individuals, and government agencies.