QCR Holdings, Inc. $QCRH Shares Bought by Boothbay Fund Management LLC

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 grew 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 Form 13F filing with the SEC. The firm owned 136,140 shares of the bank's stock after purchasing an additional 52,340 shares during the quarter. Boothbay Fund Management LLC owned 0.80% of QCR worth $9,710,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Deutsche Bank AG boosted its stake in shares of QCR by 49.1% in the fourth quarter. Deutsche Bank AG now owns 13,831 shares of the bank's stock valued at $1,115,000 after purchasing an additional 4,553 shares during the period. Vanguard Group Inc. boosted its stake in shares of QCR by 0.7% in the first quarter. Vanguard Group Inc. now owns 952,780 shares of the bank's stock valued at $67,952,000 after purchasing an additional 7,002 shares during the period. Larson Financial Group LLC purchased a new position in shares of QCR in the first quarter valued at approximately $363,000. Lazard Asset Management LLC boosted its stake in shares of QCR by 3,042.1% in the fourth quarter. Lazard Asset Management LLC now owns 597 shares of the bank's stock valued at $48,000 after purchasing an additional 578 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of QCR by 3.6% in the first quarter. Principal Financial Group Inc. now owns 9,269 shares of the bank's stock valued at $661,000 after purchasing an additional 323 shares during the period. Hedge funds and other institutional investors own 70.01% of the company's stock.

QCR Stock Down 0.6%

QCR stock traded down $0.47 during trading on Friday, reaching $78.35. The stock had a trading volume of 54,771 shares, compared to its average volume of 91,618. QCR Holdings, Inc. has a 52-week low of $60.83 and a 52-week high of $96.08. The business has a 50 day moving average price of $74.37 and a 200 day moving average price of $70.72. 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 $1.33 billion, a PE ratio of 11.80 and a beta of 0.87.

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

QCR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Thursday, September 18th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, September 18th. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. QCR's dividend payout ratio (DPR) is presently 3.61%.

Insiders Place Their Bets

In other QCR news, CEO Laura L. Ekizian sold 333 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $80.00, for a total transaction of $26,640.00. Following the sale, the chief executive officer owned 5,632 shares of the company's stock, valued at approximately $450,560. This trade represents a 5.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.70% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Piper Sandler raised their price objective on shares of QCR from $88.00 to $92.50 and gave the company an "overweight" rating in a research note on Monday, July 28th. DA Davidson raised their price objective on shares of QCR from $80.00 to $87.00 and gave the company a "buy" rating in a research note 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. Finally, Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $92.00 price objective (up previously from $90.00) on shares of QCR in a research note on Friday, July 25th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $87.38.

QCR 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.