Bank of America Corp DE Increases Stake in QCR Holdings, Inc. (NASDAQ:QCRH)

Bank of America Corp DE lifted its stake in QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 72.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,191 shares of the bank's stock after acquiring an additional 14,825 shares during the period. Bank of America Corp DE owned approximately 0.21% of QCR worth $2,838,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV lifted its holdings in QCR by 5.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 5,698 shares of the bank's stock worth $460,000 after purchasing an additional 283 shares in the last quarter. Northern Trust Corp increased its position in shares of QCR by 4.2% during the fourth quarter. Northern Trust Corp now owns 153,658 shares of the bank's stock valued at $12,391,000 after buying an additional 6,191 shares during the period. Tudor Investment Corp ET AL lifted its holdings in shares of QCR by 68.3% in the fourth quarter. Tudor Investment Corp ET AL now owns 57,613 shares of the bank's stock worth $4,646,000 after buying an additional 23,379 shares in the last quarter. Aquatic Capital Management LLC boosted its position in shares of QCR by 109.9% in the fourth quarter. Aquatic Capital Management LLC now owns 3,569 shares of the bank's stock valued at $288,000 after acquiring an additional 1,869 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new position in QCR during the fourth quarter valued at approximately $528,000. 70.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on QCRH. Piper Sandler cut their price target on shares of QCR from $98.00 to $88.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Raymond James set a $78.00 target price on QCR and gave the company an "outperform" rating in a research note on Thursday, April 24th. Wall Street Zen upgraded QCR from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Keefe, Bruyette & Woods cut their price objective on QCR from $99.00 to $90.00 and set an "outperform" rating for the company in a report on Thursday, April 24th.

Insider Buying and Selling

In other QCR news, CEO Larry J. Helling purchased 1,000 shares of the stock in a transaction that occurred on Monday, April 28th. The stock was bought at an average cost of $64.53 per share, with a total value of $64,530.00. Following the transaction, the chief executive officer now directly owns 40,264 shares in the company, valued at approximately $2,598,235.92. The trade was a 2.55% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider James D. Klein sold 630 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $73.40, for a total value of $46,242.00. Following the completion of the sale, the insider now owns 428 shares in the company, valued at $31,415.20. The trade was a 59.55% decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.

QCR Trading Down 1.7%

NASDAQ:QCRH traded down $1.17 during trading hours on Wednesday, reaching $65.93. The company's stock had a trading volume of 70,762 shares, compared to its average volume of 78,316. QCR Holdings, Inc. has a 1 year low of $54.75 and a 1 year high of $96.08. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.99 and a current ratio of 1.02. The firm has a 50-day simple moving average of $67.24 and a 200-day simple moving average of $75.80. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 9.83 and a beta of 0.80.

QCR (NASDAQ:QCRH - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The bank reported $1.53 earnings per share (EPS) for the quarter, topping 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 quarter last year, the firm earned $1.59 EPS. Research analysts expect that QCR Holdings, Inc. will post 6.82 EPS for the current fiscal year.

QCR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 18th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.24 annualized dividend and a yield of 0.36%. QCR's dividend payout ratio (DPR) 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.