QCR Holdings, Inc. (NASDAQ:QCRH) Shares Bought by Bank of America Corp DE

Bank of America Corp DE boosted its position in shares of QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 72.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,191 shares of the bank's stock after buying an additional 14,825 shares during the period. Bank of America Corp DE owned 0.21% of QCR worth $2,838,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its position in QCR by 9.8% during the fourth quarter. Invesco Ltd. now owns 34,575 shares of the bank's stock worth $2,788,000 after buying an additional 3,083 shares in the last quarter. Barclays PLC lifted its position in QCR by 148.9% in the third quarter. Barclays PLC now owns 30,805 shares of the bank's stock valued at $2,281,000 after buying an additional 18,430 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in QCR by 6.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 145,990 shares of the bank's stock valued at $11,773,000 after buying an additional 9,292 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of QCR by 23.7% during the fourth quarter. New York State Common Retirement Fund now owns 19,339 shares of the bank's stock worth $1,559,000 after purchasing an additional 3,700 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of QCR by 10.5% during the fourth quarter. American Century Companies Inc. now owns 387,702 shares of the bank's stock worth $31,264,000 after buying an additional 36,930 shares during the period. 70.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Piper Sandler cut 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. Wall Street Zen upgraded shares of QCR from a "sell" rating to a "hold" rating in a research note on Friday. Raymond James set a $78.00 target price on shares of QCR and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Finally, 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 report on Thursday, April 24th.

QCR Price Performance

QCR stock traded down $0.78 during midday trading on Monday, reaching $66.52. The company's stock had a trading volume of 51,685 shares, compared to its average volume of 78,007. QCR Holdings, Inc. has a fifty-two week low of $54.75 and a fifty-two week 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 stock's 50 day simple moving average is $67.49 and its 200 day simple moving average is $76.02. The firm has a market capitalization of $1.13 billion, a PE ratio of 9.91 and a beta of 0.80.

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

QCR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 18th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend is Wednesday, June 18th. QCR's dividend payout ratio is presently 3.61%.

Insider Buying and Selling

In other news, insider James D. Klein sold 630 shares of QCR stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $73.40, for a total value of $46,242.00. Following the transaction, the insider now directly owns 428 shares of the company's stock, valued at $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 is available at this link. Also, CEO Larry J. Helling acquired 1,000 shares of QCR stock in a transaction dated Monday, April 28th. The stock was purchased at an average cost of $64.53 per share, for a total transaction of $64,530.00. Following the completion of the purchase, the chief executive officer now directly owns 40,264 shares in the company, valued at approximately $2,598,235.92. This represents a 2.55% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.70% of the stock is currently owned by company insiders.

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.