Jacobs Asset Management LLC Buys 10,000 Shares of QCR Holdings, Inc. $QCRH

Key Points

• Jacobs Asset Management LLC increased its stake in QCR Holdings by 11% during the first quarter, now owning 101,309 shares worth approximately $7.23 million.
• Several institutional investors, including Virtus Advisers and AlphaQuest, have also made significant adjustments to their positions in QCR, indicating a strong interest in the company's stock.
• QCR Holdings recently reported earnings of $1.73 per share, exceeding analysts' expectations, and announced a quarterly dividend of $0.06 per share to be paid on October 3rd.

Jacobs Asset Management LLC boosted its position in shares of QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 11.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 101,309 shares of the bank's stock after purchasing an additional 10,000 shares during the period. QCR comprises 4.5% of Jacobs Asset Management LLC's holdings, making the stock its 8th biggest holding. Jacobs Asset Management LLC owned approximately 0.60% of QCR worth $7,225,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC bought a new position in QCR during the 1st quarter valued at about $46,000. Lazard Asset Management LLC boosted its position in QCR by 3,042.1% in 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. EntryPoint Capital LLC purchased a new stake in QCR in the 1st quarter valued at about $210,000. R Squared Ltd boosted its position 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 buying an additional 2,456 shares during the period. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in QCR in the 4th quarter valued at about $237,000. 70.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Laura L. Ekizian sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $80.00, for a total transaction of $80,000.00. Following the completion of the sale, the chief executive officer owned 5,965 shares of the company's stock, valued at $477,200. This represents a 14.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.70% of the stock is owned by insiders.

QCR Stock Down 0.2%

Shares of QCRH traded down $0.18 during mid-day trading on Friday, hitting $78.38. The company's stock had a trading volume of 80,821 shares, compared to its average volume of 101,596. The company's 50-day moving average is $73.25 and its 200-day moving average is $70.69. QCR Holdings, Inc. has a 52-week low of $60.83 and a 52-week high of $96.08. The firm has a market capitalization 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 (NASDAQ:QCRH - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The bank reported $1.73 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.10. QCR had a net margin of 19.43% and a return on equity of 11.71%. The company had revenue of $84.20 million during the quarter, compared to analysts' expectations of $95.11 million. On average, equities research analysts forecast that QCR Holdings, Inc. will post 6.82 EPS for the current fiscal year.

QCR Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on QCRH shares. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $92.00 price objective (up from $90.00) on shares of QCR in a research report on Friday, July 25th. Wall Street Zen raised shares of QCR from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Piper Sandler boosted their price objective on shares of QCR from $88.00 to $92.50 and gave the company an "overweight" rating in a research report on Monday, July 28th. Finally, DA Davidson upped 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. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, QCR has an average rating of "Buy" and an average target price of $87.38.

QCR 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.