JPMorgan Chase & Co. Has $27.14 Million Stake in QCR Holdings, Inc. $QCRH

Key Points

• JPMorgan Chase & Co. reduced its stake in QCR Holdings by 6.0%, selling 23,087 shares to hold 358,795 shares (about 2.13% of the company) valued at approximately $27.14 million.
• QCR beat quarterly EPS estimates ($2.21 vs. $1.96) with revenue roughly in line at $107.02M, and the board raised the quarterly dividend to $0.10 (annualized $0.40, yield ~0.5%) with an ex-dividend date of March 19.
• Insiders have been selling (CFO sold 8,590 shares for about $772K) while institutional ownership is high at 70.01%, and analysts hold a generally positive view with a consensus rating of "Moderate Buy" and an average price target of $102.25.

JPMorgan Chase & Co. reduced its holdings in shares of QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 6.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 358,795 shares of the bank's stock after selling 23,087 shares during the quarter. JPMorgan Chase & Co. owned approximately 2.13% of QCR worth $27,139,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in QCRH. AQR Capital Management LLC lifted its holdings in QCR by 20.7% during the 1st quarter. AQR Capital Management LLC now owns 38,470 shares of the bank's stock valued at $2,744,000 after purchasing an additional 6,607 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of QCR by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,729 shares of the bank's stock valued at $694,000 after purchasing an additional 403 shares during the last quarter. Millennium Management LLC raised its position in shares of QCR by 124.5% in the first quarter. Millennium Management LLC now owns 98,583 shares of the bank's stock valued at $7,031,000 after purchasing an additional 54,678 shares during the period. Jane Street Group LLC raised its position in shares of QCR by 106.5% in the first quarter. Jane Street Group LLC now owns 30,052 shares of the bank's stock valued at $2,143,000 after purchasing an additional 15,501 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of QCR by 2.6% during the 2nd quarter. Geode Capital Management LLC now owns 435,133 shares of the bank's stock worth $29,549,000 after buying an additional 11,033 shares during the last quarter. Institutional investors own 70.01% of the company's stock.

QCR Trading Up 2.4%

QCRH stock opened at $83.61 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.00. The company's 50-day simple moving average is $88.03 and its 200 day simple moving average is $82.19. QCR Holdings, Inc. has a 52 week low of $60.83 and a 52 week high of $96.00. The company has a market capitalization of $1.40 billion, a PE ratio of 11.13 and a beta of 0.82.

QCR (NASDAQ:QCRH - Get Free Report) last issued its quarterly earnings data on Tuesday, January 27th. The bank reported $2.21 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.25. The business had revenue of $107.02 million during the quarter, compared to analysts' expectations of $106.87 million. QCR had a net margin of 21.07% and a return on equity of 12.13%. As a group, sell-side analysts anticipate that QCR Holdings, Inc. will post 6.82 earnings per share for the current year.

QCR Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Thursday, March 19th will be issued a dividend of $0.10 per share. This is a boost from QCR's previous quarterly dividend of $0.06. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Thursday, March 19th. QCR's payout ratio is 5.33%.

Insider Buying and Selling

In other QCR news, insider James D. Klein sold 554 shares of the firm's stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $82.50, for a total transaction of $45,705.00. Following the transaction, the insider owned 738 shares in the company, valued at $60,885. This trade represents a 42.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Todd A. Gipple sold 8,590 shares of the firm's stock in a transaction on Friday, January 30th. The stock was sold at an average price of $89.92, for a total value of $772,412.80. Following the transaction, the chief financial officer owned 44,902 shares in the company, valued at approximately $4,037,587.84. This trade represents a 16.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. DA Davidson upped their price target on shares of QCR from $92.00 to $96.00 and gave the company a "neutral" rating in a research note on Thursday, January 29th. Zacks Research downgraded shares of QCR from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 29th. Piper Sandler restated an "overweight" rating and set a $108.00 price objective (up from $105.00) on shares of QCR in a research report on Friday, January 30th. Raymond James Financial restated an "outperform" rating and set a $103.00 price objective on shares of QCR in a report on Friday, January 30th. Finally, Keefe, Bruyette & Woods upped their target price on QCR from $92.00 to $102.00 and gave the company an "outperform" rating in a research report on Thursday, January 29th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $102.25.

QCR Profile

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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