Bank of New York Mellon Corp Takes $7.30 Million Position in QCR Holdings, Inc. $QCRH

Key Points

• Bank of New York Mellon acquired 74,989 QCR Holdings shares worth approximately $7.3 million in the second quarter, giving it a 0.45% stake. Institutional investors collectively own 70.01% of QCR’s outstanding shares.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $108.75. Piper Sandler raised its target to $123 while maintaining an overweight rating.
• QCR exceeded quarterly EPS expectations, reporting $2.19 versus the $1.91 consensus estimate, and increased its quarterly dividend from $0.10 to $0.15 per share.

Bank of New York Mellon Corp purchased a new position in QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 74,989 shares of the bank's stock, valued at approximately $7,300,000. Bank of New York Mellon Corp owned approximately 0.45% of QCR at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in QCRH. Cetera Investment Advisers boosted its holdings in shares of QCR by 2.4% in the 1st quarter. Cetera Investment Advisers now owns 4,999 shares of the bank's stock valued at $427,000 after buying an additional 116 shares in the last quarter. Farther Finance Advisors LLC lifted its position in QCR by 34.6% during the fourth quarter. Farther Finance Advisors LLC now owns 576 shares of the bank's stock valued at $48,000 after acquiring an additional 148 shares during the last quarter. Legal & General Group Plc boosted its stake in QCR by 1.0% in the second quarter. Legal & General Group Plc now owns 17,366 shares of the bank's stock valued at $1,179,000 after acquiring an additional 165 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in QCR by 0.7% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 28,395 shares of the bank's stock worth $2,365,000 after purchasing an additional 185 shares during the last quarter. Finally, LPL Financial LLC grew its holdings in QCR by 3.8% in the fourth quarter. LPL Financial LLC now owns 5,208 shares of the bank's stock worth $434,000 after purchasing an additional 191 shares during the last quarter. 70.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

QCRH has been the subject of a number of recent analyst reports. Piper Sandler reissued an "overweight" rating and issued a $123.00 price objective (up from $107.00) on shares of QCR in a research report on Monday, July 27th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of QCR in a research report on Monday, July 6th. DA Davidson boosted their price target on QCR from $97.00 to $105.00 and gave the stock a "neutral" rating in a research note on Monday, July 27th. Finally, Keefe, Bruyette & Woods boosted their price target on QCR from $105.00 to $108.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $108.75.

QCR Stock Up 1.4%

QCR stock opened at $102.83 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.98 and a current ratio of 0.98. The business's 50-day simple moving average is $100.46 and its two-hundred day simple moving average is $93.42. The company has a market cap of $1.68 billion, a PE ratio of 12.15 and a beta of 0.73. QCR Holdings, Inc. has a fifty-two week low of $66.65 and a fifty-two week high of $108.11.

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

QCR Increases Dividend

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

Insider Activity at QCR

In related news, CEO Laura Ekizian sold 750 shares of the firm's 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 completion of the transaction, the chief executive officer owned 6,093 shares of the company's stock, valued at $578,591.28. This trade represents a 10.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.20% of the stock is owned by company insiders.

About QCR

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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