Bank of America Corp DE Has $3.65 Million Holdings in QCR Holdings, Inc. $QCRH

Key Points

• Bank of America more than doubled its QCR Holdings stake in the first quarter to 42,709 shares, valued at approximately $3.65 million. Institutional investors collectively own 70.01% of QCR’s outstanding stock.
• Analyst sentiment remains positive, with four Buy ratings and two Hold ratings producing a “Moderate Buy” consensus and an average price target of $108.75. Recent targets range from $105 to $123.
• QCR reported quarterly EPS of $2.19, beating expectations of $1.91, while revenue fell short of estimates. The company also raised its quarterly dividend from $0.10 to $0.15 per share.

Bank of America Corp DE boosted its stake in QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 101.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,709 shares of the bank's stock after purchasing an additional 21,517 shares during the quarter. Bank of America Corp DE owned about 0.26% of QCR worth $3,649,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of QCR in the third quarter valued at approximately $9,825,000. Rhino Investment Partners Inc increased its holdings in QCR by 122.1% during the first quarter. Rhino Investment Partners Inc now owns 133,324 shares of the bank's stock worth $11,393,000 after buying an additional 73,308 shares during the last quarter. Kennedy Capital Management LLC raised its position in QCR by 9.7% during the fourth quarter. Kennedy Capital Management LLC now owns 762,068 shares of the bank's stock worth $63,480,000 after acquiring an additional 67,517 shares in the last quarter. Endeavour Capital Advisors Inc. raised its position in QCR by 23.3% during the fourth quarter. Endeavour Capital Advisors Inc. now owns 328,497 shares of the bank's stock worth $27,364,000 after acquiring an additional 62,032 shares in the last quarter. Finally, Kestrel Investment Management Corp acquired a new stake in QCR in the fourth quarter valued at $4,636,000. 70.01% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Laura L. Ekizian sold 750 shares of QCR stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $94.96, for a total transaction of $71,220.00. Following the transaction, the chief executive officer owned 6,093 shares in the company, valued at approximately $578,591.28. The trade was a 10.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on QCRH. Keefe, Bruyette & Woods lifted their price objective on shares of QCR from $105.00 to $108.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of QCR in a report on Monday, July 6th. DA Davidson raised their target price on shares of QCR from $97.00 to $105.00 and gave the company a "neutral" rating in a research note on Monday, July 27th. Finally, Piper Sandler reiterated an "overweight" rating and set a $123.00 price target (up from $107.00) on shares of QCR in a report on Monday, July 27th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $108.75.

QCR Stock Down 0.1%

QCRH stock opened at $100.63 on Friday. QCR Holdings, Inc. has a fifty-two week low of $66.65 and a fifty-two week high of $108.11. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 11.89 and a beta of 0.74. The business's fifty day moving average price is $100.07 and its two-hundred day moving average price is $93.18.

QCR (NASDAQ:QCRH - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The bank reported $2.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.28. The business had revenue of $97.34 million during the quarter, compared to analysts' expectations of $104.10 million. QCR had a return on equity of 12.87% and a net margin of 22.86%. On average, equities analysts anticipate that QCR Holdings, Inc. will post 8.5 earnings per share for the current year.

QCR Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Friday, September 18th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.6%. This is an increase from QCR's previous quarterly dividend of $0.10. The ex-dividend date is Friday, September 18th. QCR's dividend payout ratio (DPR) is presently 4.73%.

QCR Profile

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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