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 decreased its holdings in QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 29.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,346 shares of the bank's stock after selling 4,260 shares during the quarter. Hsbc Holdings PLC owned 0.06% of QCR worth $740,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Lazard Asset Management LLC increased its holdings 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 purchasing an additional 578 shares during the period. New Age Alpha Advisors LLC bought a new position in QCR during the 1st quarter worth $46,000. B. Riley Wealth Advisors Inc. acquired a new position in QCR in the 4th quarter valued at $237,000. R Squared Ltd raised its holdings in QCR by 309.3% in the 1st quarter. R Squared Ltd now owns 3,250 shares of the bank's stock valued at $232,000 after acquiring an additional 2,456 shares in the last quarter. Finally, Hohimer Wealth Management LLC lifted its position in shares of QCR by 4.9% during the 1st quarter. Hohimer Wealth Management LLC now owns 3,489 shares of the bank's stock valued at $249,000 after acquiring an additional 164 shares during the period. Institutional investors own 70.01% of the company's stock.

QCR Stock Down 0.2%

Shares of NASDAQ QCRH opened at $78.38 on Friday. 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 current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.48. QCR Holdings, Inc. has a 12 month low of $60.83 and a 12 month high of $96.08. The stock has a 50-day moving average price of $73.25 and a two-hundred day moving average price of $70.69.

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

QCR Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on QCRH shares. Piper Sandler raised their price target on QCR from $88.00 to $92.50 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Wall Street Zen upgraded shares of QCR from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. DA Davidson raised their target price on shares of QCR from $80.00 to $87.00 and gave the company a "buy" rating in a report on Friday, July 25th. Finally, Keefe, Bruyette & Woods restated an "outperform" rating and issued a $92.00 target price (up from $90.00) on shares of QCR in a research report on Friday, July 25th. Four equities 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 a consensus target price of $87.38.

Insider Activity

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 value of $80,000.00. Following the completion of the transaction, the chief executive officer directly owned 5,965 shares in the company, valued at approximately $477,200. This represents a 14.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.70% of the company's stock.

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.

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