Nuveen LLC Acquires New Shares in QCR Holdings, Inc. $QCRH

Key Points

• Nuveen LLC has acquired a new stake in QCR Holdings, Inc., purchasing 204,969 shares valued at approximately $14.62 million, representing about 1.21% of the company's shares.
• QCR Holdings recently reported $1.73 earnings per share (EPS) for the quarter, surpassing analysts' expectations, although revenue of $84.20 million fell short of estimates.
• Several research analysts have given QCR a positive outlook, with a consensus rating of "Buy" and a price target averaging $87.38 per share.

Nuveen LLC acquired a new position in QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 204,969 shares of the bank's stock, valued at approximately $14,618,000. Nuveen LLC owned 1.21% of QCR at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Invesco Ltd. increased its holdings in shares of QCR by 90.7% in the first quarter. Invesco Ltd. now owns 65,930 shares of the bank's stock worth $4,702,000 after buying an additional 31,355 shares during the period. Deutsche Bank AG increased its holdings in shares of QCR by 93.3% in the first quarter. Deutsche Bank AG now owns 26,738 shares of the bank's stock worth $1,907,000 after buying an additional 12,907 shares during the period. Vanguard Group Inc. increased its holdings in shares of QCR by 0.7% in the first quarter. Vanguard Group Inc. now owns 952,780 shares of the bank's stock worth $67,952,000 after buying an additional 7,002 shares during the period. New Age Alpha Advisors LLC purchased a new position in shares of QCR in the first quarter worth about $46,000. Finally, R Squared Ltd increased its holdings in shares of QCR by 309.3% in the first quarter. R Squared Ltd now owns 3,250 shares of the bank's stock worth $232,000 after buying an additional 2,456 shares during the period. Hedge funds and other institutional investors own 70.01% of the company's stock.

QCR Stock Up 2.1%

QCR stock traded up $1.65 during trading hours on Tuesday, hitting $80.74. 187,980 shares of the stock traded hands, compared to its average volume of 101,376. The firm's 50-day moving average price is $72.38 and its two-hundred day moving average price is $70.65. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.48. The company has a market cap of $1.37 billion, a PE ratio of 12.16 and a beta of 0.83. QCR Holdings, Inc. has a one year low of $60.83 and a one year high of $96.08.

QCR (NASDAQ:QCRH - Get Free Report) last posted its quarterly earnings data 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 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 analysts' expectations of $95.11 million. On average, research analysts forecast that QCR Holdings, Inc. will post 6.82 EPS for the current year.

QCR Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages recently issued reports on QCRH. Piper Sandler boosted their price target on QCR from $88.00 to $92.50 and gave the company an "overweight" rating in a report on Monday, July 28th. Wall Street Zen upgraded QCR from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Keefe, Bruyette & Woods restated an "outperform" rating and set a $92.00 price target (up previously from $90.00) on shares of QCR in a report on Friday, July 25th. Finally, DA Davidson boosted their price target on QCR from $80.00 to $87.00 and gave the company a "buy" rating in a report on Friday, July 25th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, QCR presently has a consensus rating of "Buy" and a consensus target price 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.