55,650 Shares in QCR Holdings, Inc. $QCRH Bought by Kestrel Investment Management Corp

Key Points

• Kestrel Investment Management initiated a new position in QCR Holdings, buying 55,650 shares worth about $4.64 million in the fourth quarter. The stake represents roughly 2.6% of Kestrel’s portfolio and about 0.33% of QCR.
• Several other institutional investors also increased their holdings, and overall institutional ownership stands at 70.01%. Analysts remain constructive, with a consensus rating of Moderate Buy and an average price target of $101.
• QCR reported quarterly EPS of $1.99, beating estimates, and recently raised its quarterly dividend to $0.10 per share from $0.06. The stock opened at $91.07, near its 52-week high of $96.00.

Kestrel Investment Management Corp acquired a new position in shares of QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 55,650 shares of the bank's stock, valued at approximately $4,636,000. QCR comprises approximately 2.6% of Kestrel Investment Management Corp's portfolio, making the stock its 18th largest holding. Kestrel Investment Management Corp owned about 0.33% of QCR at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of QCRH. Kennedy Capital Management LLC grew its position in shares of QCR by 108.2% in the 3rd quarter. Kennedy Capital Management LLC now owns 694,551 shares of the bank's stock valued at $52,536,000 after buying an additional 360,884 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of QCR by 715.4% in the 3rd quarter. Victory Capital Management Inc. now owns 400,229 shares of the bank's stock valued at $30,273,000 after buying an additional 351,145 shares during the last quarter. Schroder Investment Management Group grew its position in shares of QCR by 86.2% in the 3rd quarter. Schroder Investment Management Group now owns 350,963 shares of the bank's stock valued at $26,663,000 after buying an additional 162,482 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of QCR in the 3rd quarter valued at about $9,825,000. Finally, Millennium Management LLC grew its position in shares of QCR by 124.5% in the 1st quarter. Millennium Management LLC now owns 98,583 shares of the bank's stock valued at $7,031,000 after buying an additional 54,678 shares during the last quarter. Institutional investors own 70.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on QCRH. Weiss Ratings upgraded QCR from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, February 2nd. Piper Sandler reduced their price target on QCR from $108.00 to $107.00 and set an "overweight" rating on the stock in a research report on Monday, April 27th. DA Davidson upped their price target on QCR from $92.00 to $96.00 and gave the company a "neutral" rating in a research report on Thursday, January 29th. Keefe, Bruyette & Woods upped their target price on QCR from $92.00 to $102.00 and gave the company an "outperform" rating in a research report on Thursday, January 29th. Finally, Raymond James Financial restated an "outperform" rating and set a $99.00 target price on shares of QCR in a research report on Monday, April 27th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $101.00.

Insiders Place Their Bets

In related news, insider James D. Klein sold 554 shares of the company's stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $82.50, for a total transaction of $45,705.00. Following the transaction, the insider directly owned 738 shares of the company's stock, valued at approximately $60,885. This represents a 42.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.20% of the company's stock.

QCR Stock Down 0.4%

QCRH stock opened at $91.07 on Friday. The stock's 50 day simple moving average is $87.31 and its 200 day simple moving average is $85.12. QCR Holdings, Inc. has a fifty-two week low of $63.68 and a fifty-two week high of $96.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $1.52 billion, a P/E ratio of 11.41 and a beta of 0.77.

QCR (NASDAQ:QCRH - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The bank reported $1.99 earnings per share for the quarter, topping analysts' consensus estimates of $1.78 by $0.21. QCR had a return on equity of 12.65% and a net margin of 21.98%.The business had revenue of $89.52 million for the quarter, compared to the consensus estimate of $105.42 million. On average, research analysts expect that QCR Holdings, Inc. will post 8.13 earnings per share for the current fiscal year.

QCR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 3rd. Investors of record on Thursday, March 19th were paid a dividend of $0.10 per share. This is an increase from QCR's previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Thursday, March 19th. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. QCR's dividend payout ratio (DPR) is currently 5.01%.

About QCR

QCR Holdings, Inc, headquartered in Moline, Illinois, is a bank holding company that delivers community banking services through its wholly owned subsidiary, QCR Bank. The company focuses on serving individuals, small to medium-sized businesses and municipal clients in select Midwestern markets.

QCR Bank offers a broad array of deposit and lending products, including personal and business checking and savings accounts, commercial real estate loans, equipment financing, mortgage lending and treasury management solutions.

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