American Century Companies Inc. Cuts Stake in QCR Holdings, Inc. $QCRH

Key Points

• American Century Companies Inc. reduced its holdings in QCR Holdings, Inc. by 2.7%, selling 10,539 shares, and now owns approximately 2.23% of the company valued at $26,899,000.
• QCR Holdings reported earnings of $1.73 per share, exceeding analysts' expectations of $1.63, despite revenue coming in below estimates at $84.20 million.
• The firm declared a quarterly dividend of $0.06 per share, representing an annualized yield of 0.3%, with the payout set for October 3rd to investors of record on September 18th.

American Century Companies Inc. decreased its holdings in QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 2.7% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 377,163 shares of the bank's stock after selling 10,539 shares during the period. American Century Companies Inc. owned approximately 2.23% of QCR worth $26,899,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in QCR by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 952,780 shares of the bank's stock valued at $67,952,000 after buying an additional 7,002 shares during the last quarter. Nuveen LLC bought a new stake in QCR during the 1st quarter valued at $14,618,000. Silvercrest Asset Management Group LLC raised its holdings in QCR by 38.4% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 195,092 shares of the bank's stock valued at $15,732,000 after buying an additional 54,161 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in QCR by 0.3% during the 4th quarter. Nuveen Asset Management LLC now owns 177,026 shares of the bank's stock valued at $14,275,000 after buying an additional 609 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its holdings in QCR by 41.0% during the 4th quarter. Bridgeway Capital Management LLC now owns 176,267 shares of the bank's stock valued at $14,214,000 after buying an additional 51,240 shares during the last quarter. 70.01% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Laura L. Ekizian sold 1,000 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $80.00, for a total value of $80,000.00. Following the completion of the transaction, the chief executive officer directly owned 5,965 shares in the company, valued at $477,200. This trade represents a 14.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on QCRH. Keefe, Bruyette & Woods reiterated 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. Piper Sandler upped their price target on shares of QCR from $88.00 to $92.50 and gave the company an "overweight" rating in a report on Monday, July 28th. DA Davidson upped their price target on shares of QCR from $80.00 to $87.00 and gave the company a "buy" rating in a report on Friday, July 25th. Finally, Wall Street Zen upgraded shares of QCR from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $87.38.

QCR Stock Down 0.9%

Shares of QCR stock traded down $0.74 during trading on Thursday, hitting $78.94. The company's stock had a trading volume of 11,506 shares, compared to its average volume of 94,394. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.98 and a current ratio of 0.98. The company has a fifty day simple moving average of $72.69 and a two-hundred day simple moving average of $70.72. The company has a market capitalization of $1.34 billion, a PE ratio of 11.91 and a beta of 0.83. QCR Holdings, Inc. has a 52 week low of $60.83 and a 52 week high of $96.08.

QCR (NASDAQ:QCRH - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The bank reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.10. The company had revenue of $84.20 million during the quarter, compared to analyst estimates of $95.11 million. QCR had a net margin of 19.43% and a return on equity of 11.71%. Equities research analysts predict that QCR Holdings, Inc. will post 6.82 earnings per share for the current year.

QCR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Thursday, September 18th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Thursday, September 18th. QCR's dividend payout ratio (DPR) is presently 3.61%.

About QCR

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.