Bridgeway Capital Management LLC Cuts Position in QCR Holdings, Inc. $QCRH

Key Points

• Bridgeway Capital Management LLC reduced its stake in QCR Holdings, Inc. by 3.8%, holding 169,631 shares valued at approximately $12.1 million after the sale.
• The company recently reported earnings per share of $1.73, surpassing the consensus estimate of $1.63, while also announcing a quarterly dividend of $0.06 scheduled for October 3rd.
• Several brokerages have rated QCR stock with a consensus rating of "Buy" and a price target around $87.38.

Bridgeway Capital Management LLC trimmed its holdings in shares of QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 3.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 169,631 shares of the bank's stock after selling 6,636 shares during the quarter. Bridgeway Capital Management LLC owned 1.00% of QCR worth $12,098,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of QCRH. Nuveen LLC bought a new stake in shares of QCR during the 1st quarter worth $14,618,000. Silvercrest Asset Management Group LLC raised its position in QCR by 38.4% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 195,092 shares of the bank's stock worth $15,732,000 after acquiring an additional 54,161 shares during the period. Invesco Ltd. boosted its stake in QCR by 90.7% in the first quarter. Invesco Ltd. now owns 65,930 shares of the bank's stock valued at $4,702,000 after acquiring an additional 31,355 shares during the last quarter. Royal Bank of Canada grew its position in shares of QCR by 22.5% during the 1st quarter. Royal Bank of Canada now owns 144,589 shares of the bank's stock valued at $10,312,000 after acquiring an additional 26,567 shares during the period. Finally, FJ Capital Management LLC lifted its stake in QCR by 8.0% in the first quarter. FJ Capital Management LLC now owns 301,205 shares of the bank's stock valued at $21,482,000 after purchasing an additional 22,233 shares during the last quarter. Institutional investors own 70.01% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on QCRH. Wall Street Zen upgraded QCR from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. DA Davidson lifted their price target on QCR from $80.00 to $87.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Piper Sandler raised their target price on QCR from $88.00 to $92.50 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Finally, Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $92.00 price target (up from $90.00) on shares of QCR in a report on Friday, July 25th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $87.38.

Insider Buying and Selling at QCR

In related news, CEO Laura L. Ekizian sold 1,000 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $80.00, for a total value of $80,000.00. Following the completion of the transaction, the chief executive officer directly owned 5,965 shares of the company's stock, valued at $477,200. This represents a 14.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.70% of the company's stock.

QCR Stock Performance

Shares of QCRH stock opened at $78.00 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.98 and a current ratio of 0.98. QCR Holdings, Inc. has a fifty-two week low of $60.83 and a fifty-two week high of $96.08. The stock has a 50 day moving average price of $73.94 and a two-hundred day moving average price of $70.75. The company has a market capitalization of $1.32 billion, a P/E ratio of 11.75 and a beta of 0.87.

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

QCR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Thursday, September 18th will be given a $0.06 dividend. This represents a $0.24 annualized dividend 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%.

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.

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