Hsbc Holdings PLC Invests $1.25 Million in QCR Holdings, Inc. $QCRH

Key Points

• HSBC Holdings PLC disclosed a new QCR Holdings position in the fourth quarter, buying 15,000 shares worth about $1.25 million. Institutional ownership remains heavy, with hedge funds and other institutions holding about 70.01% of the stock.
• QCR Holdings reported better-than-expected earnings of $1.99 per share for the quarter, topping analysts’ estimate of $1.78. However, revenue came in below expectations at $89.52 million versus the $105.42 million forecast.
• The company also announced a quarterly dividend of $0.10 per share, payable on July 3, and analysts currently rate the stock a Moderate Buy with a consensus target price of $101.00.

Hsbc Holdings PLC bought a new position in QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 15,000 shares of the bank's stock, valued at approximately $1,245,000. Hsbc Holdings PLC owned approximately 0.09% of QCR at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Cetera Investment Advisers raised its holdings in shares of QCR by 2.6% in the fourth quarter. Cetera Investment Advisers now owns 4,883 shares of the bank's stock valued at $407,000 after acquiring an additional 122 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in QCR by 34.6% during the fourth quarter. Farther Finance Advisors LLC now owns 576 shares of the bank's stock valued at $48,000 after buying an additional 148 shares during the period. Legal & General Group Plc raised its stake in QCR by 1.0% in the second quarter. Legal & General Group Plc now owns 17,366 shares of the bank's stock worth $1,179,000 after buying an additional 165 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in QCR by 0.7% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 28,395 shares of the bank's stock worth $2,365,000 after buying an additional 185 shares during the period. Finally, LPL Financial LLC lifted its holdings in QCR by 3.8% during the fourth quarter. LPL Financial LLC now owns 5,208 shares of the bank's stock worth $434,000 after buying an additional 191 shares during the period. 70.01% of the stock is owned by hedge funds and other institutional investors.

QCR Price Performance

NASDAQ QCRH opened at $98.85 on Thursday. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 12.39 and a beta of 0.75. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.96 and a quick ratio of 0.89. The stock's fifty day moving average price is $92.50 and its 200 day moving average price is $89.09. QCR Holdings, Inc. has a 1 year low of $66.65 and a 1 year high of $99.43.

QCR (NASDAQ:QCRH - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.99 earnings per share for the quarter, beating analysts' consensus estimates of $1.78 by $0.21. QCR had a return on equity of 12.54% and a net margin of 21.98%.The business had revenue of $89.52 million for the quarter, compared to analyst estimates of $105.42 million. As a group, equities research analysts forecast that QCR Holdings, Inc. will post 8.13 earnings per share for the current year.

QCR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 3rd. Shareholders of record on Thursday, June 18th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. QCR's dividend payout ratio (DPR) is currently 5.01%.

Wall Street Analyst Weigh In

QCRH has been the topic of a number of analyst reports. Raymond James Financial reiterated an "outperform" rating and issued a $99.00 price target on shares of QCR in a report on Monday, April 27th. Piper Sandler decreased their price objective on QCR from $108.00 to $107.00 and set an "overweight" rating for the company in a research note on Monday, April 27th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, QCR presently has an average rating of "Moderate Buy" and a consensus target price of $101.00.

Insider Buying and Selling

In related news, insider James D. Klein sold 310 shares of QCR stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $91.00, for a total transaction of $28,210.00. Following the completion of the transaction, the insider directly owned 428 shares in the company, valued at approximately $38,948. This trade represents a 42.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Laura L. Ekizian sold 750 shares of the business's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $94.96, for a total transaction of $71,220.00. Following the completion of the transaction, the chief executive officer owned 6,093 shares of the company's stock, valued at approximately $578,591.28. This represents a 10.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 3.20% of the company's stock.

About QCR

QCR Holdings, Inc, headquartered in Moline, Illinois, is a bank holding company that delivers community banking services through its wholly owned subsidiary, QCR Bank. The company focuses on serving individuals, small to medium-sized businesses and municipal clients in select Midwestern markets.

QCR Bank offers a broad array of deposit and lending products, including personal and business checking and savings accounts, commercial real estate loans, equipment financing, mortgage lending and treasury management solutions.

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