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 decreased its stake in shares of QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 4.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 146,357 shares of the bank's stock after selling 7,301 shares during the quarter. Northern Trust Corp owned about 0.87% of QCR worth $10,438,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. New Age Alpha Advisors LLC bought a new position in shares of QCR during the first quarter worth $46,000. Lazard Asset Management LLC boosted its position 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 acquiring an additional 578 shares during the last quarter. R Squared Ltd boosted its position in shares of QCR by 309.3% during the first quarter. R Squared Ltd now owns 3,250 shares of the bank's stock worth $232,000 after acquiring an additional 2,456 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of QCR during the 4th quarter worth approximately $237,000. Finally, Hohimer Wealth Management LLC raised its holdings 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 worth $249,000 after acquiring an additional 164 shares in the last quarter. Institutional investors own 70.01% of the company's stock.

QCR Price Performance

QCR stock opened at $78.35 on Friday. The firm has a 50-day moving average price of $74.37 and a 200-day moving average price of $70.77. The firm has a market capitalization of $1.33 billion, a PE ratio of 11.80 and a beta of 0.87. 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.

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

QCR Announces Dividend

The firm 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 $0.06 dividend. The ex-dividend date 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 (DPR) is presently 3.61%.

Insiders Place Their Bets

In other QCR news, CEO Laura L. Ekizian sold 333 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $80.00, for a total value of $26,640.00. Following the sale, the chief executive officer owned 5,632 shares in the company, valued at $450,560. This trade represents a 5.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on QCRH. Wall Street Zen raised QCR from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Piper Sandler upped their price objective on QCR from $88.00 to $92.50 and gave the stock an "overweight" rating in a report on Monday, July 28th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $92.00 price objective (up from $90.00) on shares of QCR in a report on Friday, July 25th. Finally, DA Davidson upped their price objective on QCR from $80.00 to $87.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $87.38.

About QCR

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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