Charles Schwab Investment Management Inc. Sells 9,610 Shares of QCR Holdings, Inc. $QCRH

Key Points

• Charles Schwab Investment Management Inc. has reduced its stake in QCR Holdings by 6.6%, now owning approximately 0.81% of the company valued at $9.73 million.
• QCR Holdings reported earnings of $1.73 EPS for the last quarter, exceeding estimates, but its revenue was below analyst expectations at $84.20 million.
• QCR's upcoming dividend of $0.06 per share will be paid on October 3rd, with a yield of 0.3% and a payout ratio of 3.61%.

Charles Schwab Investment Management Inc. lessened its holdings in shares of QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 6.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 136,380 shares of the bank's stock after selling 9,610 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.81% of QCR worth $9,727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Deutsche Bank AG raised its holdings in QCR by 49.1% in the 4th quarter. Deutsche Bank AG now owns 13,831 shares of the bank's stock worth $1,115,000 after purchasing an additional 4,553 shares during the period. Invesco Ltd. lifted its holdings in QCR by 9.8% during the fourth quarter. Invesco Ltd. now owns 34,575 shares of the bank's stock valued at $2,788,000 after purchasing an additional 3,083 shares in the last quarter. Larson Financial Group LLC bought a new position in QCR in the 1st quarter worth $363,000. Lazard Asset Management LLC lifted its position 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 acquiring an additional 578 shares in the last quarter. 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 worth $661,000 after acquiring an additional 323 shares during the period. 70.01% of the stock is currently owned by hedge funds and other institutional investors.

QCR Stock Down 0.2%

NASDAQ QCRH traded down $0.18 on Friday, reaching $78.38. 80,821 shares of the stock traded hands, compared to its average volume of 94,776. QCR Holdings, Inc. has a 12 month low of $60.83 and a 12 month high of $96.08. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 11.80 and a beta of 0.83. The company has a fifty day moving average price of $72.97 and a 200-day moving average price of $70.72. 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 (NASDAQ:QCRH - Get Free Report) last posted 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. The business had revenue of $84.20 million for the quarter, compared to the consensus estimate of $95.11 million. QCR had a return on equity of 11.71% and a net margin of 19.43%. As a group, research analysts forecast that QCR Holdings, Inc. will post 6.82 EPS 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%.

Analyst Ratings Changes

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

Insider Buying and Selling at QCR

In other news, CEO Laura L. Ekizian sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $80.00, for a total transaction of $80,000.00. Following the transaction, the chief executive officer directly owned 5,965 shares in the company, valued at approximately $477,200. This trade represents a 14.36% 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.

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.