Bridgeway Capital Management LLC Decreases Stock Holdings 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 position in shares of QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 3.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of QCR by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 952,780 shares of the bank's stock worth $67,952,000 after acquiring an additional 7,002 shares during the last quarter. FJ Capital Management LLC raised its position in QCR by 8.0% in the 1st quarter. FJ Capital Management LLC now owns 301,205 shares of the bank's stock worth $21,482,000 after purchasing an additional 22,233 shares during the period. The Manufacturers Life Insurance Company lifted its stake in QCR by 0.9% in the first quarter. The Manufacturers Life Insurance Company now owns 233,096 shares of the bank's stock worth $16,624,000 after purchasing an additional 2,064 shares during the last quarter. Nuveen LLC purchased a new stake in shares of QCR in the first quarter worth approximately $14,618,000. Finally, Silvercrest Asset Management Group LLC lifted its stake in shares of QCR by 38.4% during the 4th 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 last quarter. Hedge funds and other institutional investors own 70.01% of the company's stock.

QCR Stock Down 1.4%

Shares of QCRH stock traded down $1.07 during mid-day trading on Tuesday, hitting $77.93. The stock had a trading volume of 23,480 shares, compared to its average volume of 93,405. QCR Holdings, Inc. has a 12-month low of $60.83 and a 12-month high of $96.08. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.98. The firm's 50-day moving average is $74.59 and its two-hundred day moving average is $70.70. The firm has a market capitalization of $1.32 billion, a P/E ratio of 11.73 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 EPS for the quarter, beating the consensus estimate of $1.63 by $0.10. QCR had a return on equity of 11.71% and a net margin of 19.43%.The firm had revenue of $84.20 million for the quarter, compared to analyst estimates of $95.11 million. On average, analysts predict that QCR Holdings, Inc. will post 6.82 earnings per share for the current fiscal year.

QCR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Thursday, September 18th will be issued a $0.06 dividend. The ex-dividend date is Thursday, September 18th. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. QCR's payout ratio is currently 3.61%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on QCRH shares. Keefe, Bruyette & Woods restated an "outperform" rating and set a $92.00 price objective (up previously from $90.00) on shares of QCR in a report on Friday, July 25th. DA Davidson boosted their target price 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. Piper Sandler upped 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. Finally, Wall Street Zen upgraded shares of QCR from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $87.38.

Insider Buying and Selling at QCR

In other news, CEO Laura L. Ekizian sold 333 shares of the 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 transaction, the chief executive officer directly owned 5,632 shares in the company, 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 is accessible through this link. Insiders own 3.70% of the company's stock.

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.