Boothbay Fund Management LLC Boosts Stake in QCR Holdings, Inc. $QCRH

Key Points

• Boothbay Fund Management LLC has increased its stake in QCR Holdings, Inc. by 62.5% during the first quarter, acquiring an additional 52,340 shares, bringing its total to 136,140 shares worth approximately $9.71 million.
• QCR Holdings recently announced a quarterly dividend of $0.06 per share, which will be paid on October 3rd, representing an annualized yield of 0.3%.
• Analysts have raised their price targets for QCR shares, with Piper Sandler setting a new target of $92.50, reflecting positive sentiment among investment analysts regarding the company's performance.

Boothbay Fund Management LLC boosted its holdings in QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 62.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 136,140 shares of the bank's stock after purchasing an additional 52,340 shares during the quarter. Boothbay Fund Management LLC owned about 0.80% of QCR worth $9,710,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of QCRH. Lazard Asset Management LLC grew its holdings in shares of QCR by 3,042.1% during the fourth quarter. Lazard Asset Management LLC now owns 597 shares of the bank's stock worth $48,000 after buying an additional 578 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of QCR in the 1st quarter valued at approximately $46,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of QCR in the 4th quarter valued at approximately $237,000. EntryPoint Capital LLC acquired a new position in shares of QCR in the first quarter valued at approximately $210,000. Finally, R Squared Ltd lifted its stake in QCR by 309.3% in the 1st quarter. R Squared Ltd now owns 3,250 shares of the bank's stock valued at $232,000 after buying an additional 2,456 shares in the last quarter. 70.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on QCRH shares. DA Davidson boosted their price target on QCR from $80.00 to $87.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Wall Street Zen raised shares of QCR from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $92.00 price target (up from $90.00) on shares of QCR in a research note on Friday, July 25th. Finally, Piper Sandler lifted their price target on shares of QCR from $88.00 to $92.50 and gave the stock an "overweight" rating in a report on Monday, July 28th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $87.38.

Insider Buying and Selling

In other QCR news, CEO Laura L. Ekizian sold 1,000 shares of the business's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $80.00, for a total transaction of $80,000.00. Following the transaction, the chief executive officer owned 5,965 shares in the company, valued at $477,200. The trade was a 14.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.70% of the stock is owned by company insiders.

QCR Trading Down 1.4%

Shares of QCRH stock traded down $1.07 on Tuesday, reaching $77.93. 23,480 shares of the stock were exchanged, compared to its average volume of 93,405. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.48. The stock has a market cap of $1.32 billion, a P/E ratio of 11.73 and a beta of 0.87. The firm has a 50 day moving average of $74.59 and a two-hundred day moving average of $70.70. QCR Holdings, Inc. has a 1-year low of $60.83 and a 1-year high of $96.08.

QCR (NASDAQ:QCRH - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The bank reported $1.73 EPS for the quarter, topping the consensus estimate of $1.63 by $0.10. The company had revenue of $84.20 million during the quarter, compared to analyst estimates of $95.11 million. QCR had a return on equity of 11.71% and a net margin of 19.43%. On average, research analysts anticipate that QCR Holdings, Inc. will post 6.82 EPS for the current year.

QCR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Thursday, September 18th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Thursday, September 18th. QCR's dividend payout ratio (DPR) is currently 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.