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. cut its holdings in shares of QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 16.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,702 shares of the bank's stock after selling 3,694 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.11% of QCR worth $1,334,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. New Age Alpha Advisors LLC purchased a new position in shares of QCR during the first quarter worth approximately $46,000. Lazard Asset Management LLC raised its stake in shares of QCR by 3,042.1% during the fourth quarter. Lazard Asset Management LLC now owns 597 shares of the bank's stock worth $48,000 after acquiring an additional 578 shares in the last quarter. R Squared Ltd raised its stake in shares of QCR by 309.3% during the first quarter. R Squared Ltd now owns 3,250 shares of the bank's stock worth $232,000 after acquiring an additional 2,456 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in shares of QCR during the fourth quarter worth approximately $237,000. Finally, Hohimer Wealth Management LLC raised its stake in shares of QCR by 4.9% during the first quarter. Hohimer Wealth Management LLC now owns 3,489 shares of the bank's stock worth $249,000 after acquiring an additional 164 shares in the last quarter. 70.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on QCRH shares. DA Davidson lifted their price target on shares of QCR from $80.00 to $87.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Raymond James Financial set a $78.00 price target on shares of QCR and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Wall Street Zen raised shares of QCR from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Piper Sandler raised their target price 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, Keefe, Bruyette & Woods restated an "outperform" rating and issued a $92.00 target price (up previously from $90.00) on shares of QCR in a report on Friday, July 25th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, QCR currently has an average rating of "Buy" and a consensus target price of $87.38.

QCR Trading Up 0.1%

Shares of QCR stock traded up $0.11 on Thursday, hitting $75.40. The stock had a trading volume of 62,069 shares, compared to its average volume of 109,049. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.48. QCR Holdings, Inc. has a one year low of $60.83 and a one year high of $96.08. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 11.36 and a beta of 0.83. The stock's 50-day simple moving average is $71.47 and its two-hundred day simple moving average is $70.67.

QCR (NASDAQ:QCRH - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The bank reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.10. The firm had revenue of $84.20 million for 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%. As a group, sell-side analysts predict that QCR Holdings, Inc. will post 6.82 EPS for the current year.

QCR Company 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.