Connor Clark & Lunn Investment Management Ltd. Sells 3,694 Shares of QCR Holdings, Inc. $QCRH

Key Points

• Connor Clark & Lunn Investment Management Ltd. has decreased its stake in QCR Holdings, Inc. by 16.5%, now owning 18,702 shares valued at approximately $1.33 million.
• Analyst ratings for QCR have improved, with Keefe, Bruyette & Woods setting a new target price of $92.00, and one analyst rating the stock as a "hold" while four assigned "buy" ratings.
• QCR Holdings reported an EPS of $1.73 for the last quarter, exceeding analysts' expectations, though its revenue of $84.20 million was below the consensus estimate of $95.11 million.

Connor Clark & Lunn Investment Management Ltd. lowered its position in shares of QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 16.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 18,702 shares of the bank's stock after selling 3,694 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.11% of QCR worth $1,334,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. New Age Alpha Advisors LLC bought a new stake in shares of QCR during the first quarter valued at about $46,000. Lazard Asset Management LLC increased its stake in QCR by 3,042.1% during the 4th quarter. Lazard Asset Management LLC now owns 597 shares of the bank's stock valued at $48,000 after buying an additional 578 shares during the period. R Squared Ltd increased its stake in QCR by 309.3% during 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 during the period. B. Riley Wealth Advisors Inc. bought a new stake in shares of QCR during the 4th quarter worth about $237,000. Finally, Hohimer Wealth Management LLC lifted its stake in shares of QCR by 4.9% in the 1st quarter. Hohimer Wealth Management LLC now owns 3,489 shares of the bank's stock worth $249,000 after acquiring an additional 164 shares during the period. Institutional investors and hedge funds own 70.01% of the company's stock.

Analysts Set New Price Targets

QCRH has been the subject of several research analyst reports. Wall Street Zen upgraded QCR from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. 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. 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. Piper Sandler lifted their price objective on shares of QCR from $88.00 to $92.50 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Finally, Raymond James Financial set a $78.00 target price on shares of QCR and gave the stock an "outperform" rating in a report on Thursday, April 24th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, QCR currently has an average rating of "Buy" and an average price target of $87.38.

QCR Trading Up 0.3%

Shares of QCR stock traded up $0.21 during trading on Thursday, hitting $75.50. The stock had a trading volume of 4,424 shares, compared to its average volume of 93,886. QCR Holdings, Inc. has a 1 year low of $60.83 and a 1 year high of $96.08. The stock has a 50 day simple moving average of $71.30 and a 200 day simple moving average of $70.68. 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 company has a market capitalization of $1.28 billion, a PE ratio of 11.37 and a beta of 0.83.

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

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.