Northern Trust Corp Sells 7,301 Shares of QCR Holdings, Inc. $QCRH

Key Points

• Northern Trust Corp reduced its stake in QCR Holdings by 4.8% in Q1, selling 7,301 shares and now owns about 0.87% of the company, valued at approximately $10.4 million.
• QCR Holdings announced a quarterly dividend of $0.06 per share, set to be paid on October 3rd, which translates to an annual yield of 0.3%.
• Several financial analysts have upgraded their ratings on QCR, with an average price target of $87.38, indicating a positive outlook for the company's stock.

Northern Trust Corp trimmed its stake in QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 4.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 146,357 shares of the bank's stock after selling 7,301 shares during the period. Northern Trust Corp owned about 0.87% of QCR worth $10,438,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of QCRH. Price T Rowe Associates Inc. MD grew its position in QCR by 12.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,673 shares of the bank's stock worth $861,000 after purchasing an additional 1,222 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in QCR by 5.2% in the 4th 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 last quarter. Bank of America Corp DE grew its position in QCR by 72.8% in the 4th quarter. Bank of America Corp DE now owns 35,191 shares of the bank's stock worth $2,838,000 after purchasing an additional 14,825 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in QCR by 987.6% in the 4th quarter. Cubist Systematic Strategies LLC now owns 24,471 shares of the bank's stock worth $1,973,000 after purchasing an additional 22,221 shares during the last quarter. Finally, Deutsche Bank AG grew its position 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 during the last quarter. 70.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at QCR

In related news, CEO Laura L. Ekizian sold 1,000 shares of QCR stock in a transaction dated 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 transaction, the chief executive officer directly owned 5,965 shares of the company's stock, valued at $477,200. This trade represents a 14.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

QCR Price Performance

Shares of QCR stock traded up $0.49 during trading on Thursday, hitting $78.12. 69,783 shares of the company's stock traded hands, compared to its average volume of 81,784. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.98. The firm's fifty day moving average price is $74.95 and its 200 day moving average price is $70.81. QCR Holdings, Inc. has a twelve month low of $60.83 and a twelve month high of $96.08. The company has a market cap of $1.32 billion, a PE ratio of 11.77 and a beta of 0.87.

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

QCR Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Investors 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 yield of 0.3%. The ex-dividend date of this dividend is Thursday, September 18th. QCR's dividend payout ratio (DPR) is currently 3.61%.

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.