Ameriprise Financial Inc. Sells 10,420 Shares of QCR Holdings, Inc. (NASDAQ:QCRH)

Ameriprise Financial Inc. decreased its holdings in shares of QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 15.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,145 shares of the bank's stock after selling 10,420 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.33% of QCR worth $4,447,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of QCRH. First Trust Advisors LP increased its stake in shares of QCR by 809.7% during the 4th quarter. First Trust Advisors LP now owns 92,686 shares of the bank's stock worth $7,474,000 after purchasing an additional 82,497 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of QCR during the 4th quarter worth $3,979,000. JPMorgan Chase & Co. increased its stake in shares of QCR by 10.3% during the 4th quarter. JPMorgan Chase & Co. now owns 465,282 shares of the bank's stock worth $37,520,000 after purchasing an additional 43,439 shares during the last quarter. American Century Companies Inc. increased its stake in shares of QCR by 10.5% during the 4th quarter. American Century Companies Inc. now owns 387,702 shares of the bank's stock worth $31,264,000 after purchasing an additional 36,930 shares during the last quarter. Finally, Schroder Investment Management Group increased its stake in shares of QCR by 29.0% during the 4th quarter. Schroder Investment Management Group now owns 150,525 shares of the bank's stock worth $12,141,000 after purchasing an additional 33,806 shares during the last quarter. Institutional investors and hedge funds own 70.01% of the company's stock.

Insider Transactions at QCR

In other news, insider James D. Klein sold 630 shares of the business's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $73.40, for a total transaction of $46,242.00. Following the transaction, the insider now owns 428 shares in the company, valued at approximately $31,415.20. The trade was a 59.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Larry J. Helling acquired 1,000 shares of the company's stock in a transaction dated Monday, April 28th. The shares were bought at an average price of $64.53 per share, for a total transaction of $64,530.00. Following the acquisition, the chief executive officer now owns 40,264 shares in the company, valued at approximately $2,598,235.92. This trade represents a 2.55% increase in their position. The disclosure for this purchase can be found here. Insiders own 3.70% of the company's stock.

QCR Stock Performance

NASDAQ:QCRH traded up $0.22 during midday trading on Thursday, reaching $67.67. The stock had a trading volume of 34,328 shares, compared to its average volume of 77,378. QCR Holdings, Inc. has a 1-year low of $54.75 and a 1-year high of $96.08. The firm's fifty day simple moving average is $67.71 and its 200-day simple moving average is $76.57. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.02 and a quick ratio of 0.99. The stock has a market capitalization of $1.15 billion, a P/E ratio of 10.08 and a beta of 0.80.

QCR (NASDAQ:QCRH - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The bank reported $1.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.52 by $0.01. The business had revenue of $76.88 million for the quarter, compared to analyst estimates of $94.01 million. QCR had a net margin of 19.06% and a return on equity of 12.68%. During the same period last year, the business posted $1.59 EPS. On average, equities research analysts forecast that QCR Holdings, Inc. will post 6.82 EPS for the current fiscal year.

QCR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 18th will be issued a dividend of $0.06 per share. The ex-dividend date is Wednesday, June 18th. This represents a $0.24 annualized dividend and a dividend yield of 0.35%. QCR's payout ratio is 3.61%.

Analysts Set New Price Targets

QCRH has been the topic of a number of research analyst reports. Raymond James set a $78.00 target price on shares of QCR and gave the company an "outperform" rating in a research note on Thursday, April 24th. Piper Sandler lowered their target price on shares of QCR from $98.00 to $88.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Keefe, Bruyette & Woods lowered their target price on shares of QCR from $99.00 to $90.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Finally, Wall Street Zen lowered shares of QCR from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd.

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.