Millennium Management LLC Increases Stock Position in QCR Holdings, Inc. (NASDAQ:QCRH)

Millennium Management LLC boosted its holdings in QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 79.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,905 shares of the bank's stock after purchasing an additional 19,472 shares during the quarter. Millennium Management LLC owned 0.26% of QCR worth $3,540,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Deutsche Bank AG raised its stake in QCR by 49.1% in the 4th quarter. Deutsche Bank AG now owns 13,831 shares of the bank's stock worth $1,115,000 after purchasing an additional 4,553 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of QCR by 9.8% during the 4th quarter. Invesco Ltd. now owns 34,575 shares of the bank's stock worth $2,788,000 after acquiring an additional 3,083 shares during the period. Barclays PLC lifted its holdings in shares of QCR by 148.9% during the 3rd quarter. Barclays PLC now owns 30,805 shares of the bank's stock worth $2,281,000 after acquiring an additional 18,430 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of QCR by 6.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 145,990 shares of the bank's stock worth $11,773,000 after acquiring an additional 9,292 shares during the period. Finally, Lazard Asset Management LLC lifted its holdings in shares of QCR by 3,042.1% during the 4th quarter. Lazard Asset Management LLC now owns 597 shares of the bank's stock worth $48,000 after acquiring an additional 578 shares during the period. Institutional investors and hedge funds own 70.01% of the company's stock.

Insider Buying and Selling

In related news, CEO Larry J. Helling bought 1,000 shares of the business's stock in a transaction that occurred on Monday, April 28th. The shares were acquired at an average cost of $64.53 per share, with a total value of $64,530.00. Following the completion of the purchase, the chief executive officer now directly owns 40,264 shares in the company, valued at $2,598,235.92. The trade was a 2.55% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider James D. Klein sold 630 shares of the firm's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $73.40, for a total transaction of $46,242.00. Following the completion of the transaction, the insider now directly owns 428 shares in the company, valued at $31,415.20. This trade represents a 59.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Piper Sandler cut their price target on shares of QCR from $98.00 to $88.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Wall Street Zen upgraded shares of QCR from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Keefe, Bruyette & Woods decreased their price target on shares of QCR from $99.00 to $90.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Finally, Raymond James set a $78.00 price target on shares of QCR and gave the company an "outperform" rating in a research report on Thursday, April 24th.

QCR Trading Down 1.7%

Shares of QCRH traded down $1.17 during trading hours on Wednesday, hitting $65.93. 70,762 shares of the stock were exchanged, compared to its average volume of 78,316. QCR Holdings, Inc. has a fifty-two week low of $54.75 and a fifty-two week high of $96.08. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.02 and a quick ratio of 0.99. The business has a 50-day moving average of $67.24 and a 200-day moving average of $75.80. The firm has a market capitalization of $1.12 billion, a P/E ratio of 9.83 and a beta of 0.80.

QCR (NASDAQ:QCRH - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The bank reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.01. The company had revenue of $76.88 million during the quarter, compared to analysts' expectations of $94.01 million. QCR had a net margin of 19.06% and a return on equity of 12.68%. During the same period in the prior year, the company posted $1.59 earnings per share. On average, research analysts expect that QCR Holdings, Inc. will post 6.82 EPS for the current year.

QCR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 18th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend is Wednesday, June 18th. QCR's dividend payout ratio is presently 3.61%.

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.