Hsbc Holdings PLC Sells 4,260 Shares of QCR Holdings, Inc. $QCRH

Key Points

• Hsbc Holdings PLC reduced its stake in QCR Holdings by 29.2%, selling 4,260 shares during the 1st quarter, and now owns $740,000 worth of stock.
• The latest quarterly earnings report showed QCR Holdings beating estimates with an EPS of $1.73, although revenue of $84.20 million fell short of expectations.
• QCR recently announced a quarterly dividend of $0.06 per share, representing a 0.3% dividend yield, with shareholders of record to be paid on October 3rd.

Hsbc Holdings PLC lessened its stake in QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 29.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,346 shares of the bank's stock after selling 4,260 shares during the period. Hsbc Holdings PLC owned about 0.06% of QCR worth $740,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Hohimer Wealth Management LLC boosted its holdings in QCR by 4.9% in the first quarter. Hohimer Wealth Management LLC now owns 3,489 shares of the bank's stock worth $249,000 after purchasing an additional 164 shares during the period. Mercer Global Advisors Inc. ADV lifted its holdings in QCR by 5.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 5,698 shares of the bank's stock worth $460,000 after purchasing an additional 283 shares during the period. MetLife Investment Management LLC lifted its holdings in QCR by 3.2% in the fourth quarter. MetLife Investment Management LLC now owns 9,957 shares of the bank's stock worth $803,000 after purchasing an additional 313 shares during the period. Principal Financial Group Inc. lifted its holdings in QCR by 3.6% in the 1st quarter. Principal Financial Group Inc. now owns 9,269 shares of the bank's stock valued at $661,000 after acquiring an additional 323 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in QCR by 4.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,326 shares of the bank's stock valued at $752,000 after acquiring an additional 365 shares during the last quarter. Institutional investors and hedge funds own 70.01% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. 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. Wall Street Zen upgraded QCR from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Piper Sandler boosted their price target on QCR from $88.00 to $92.50 and gave the company an "overweight" rating in a research note on Monday, July 28th. Finally, DA Davidson boosted their price target on QCR from $80.00 to $87.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $87.38.

Insider Activity at QCR

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

QCR stock traded down $0.21 during mid-day trading on Friday, hitting $78.62. 15,514 shares of the company were exchanged, compared to its average volume of 93,767. 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 business has a fifty day moving average of $74.16 and a 200 day moving average of $70.76. QCR Holdings, Inc. has a 1-year low of $60.83 and a 1-year high of $96.08. The company has a market capitalization of $1.33 billion, a PE ratio of 11.84 and a beta of 0.87.

QCR (NASDAQ:QCRH - Get Free Report) last released its quarterly earnings data 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. QCR had a return on equity of 11.71% and a net margin of 19.43%.The firm had revenue of $84.20 million during the quarter, compared to analyst estimates of $95.11 million. As a group, sell-side analysts expect that QCR Holdings, Inc. will post 6.82 earnings per share for the current year.

QCR Announces Dividend

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

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.