Persistent Asset Partners Ltd Has $1.71 Million Holdings in QCR Holdings, Inc. (NASDAQ:QCRH)

Key Points

• Persistent Asset Partners Ltd increased its stake in QCR Holdings, Inc. by 54.0%, acquiring an additional 8,392 shares, bringing its total ownership to 23,924 shares.
• QCR Holdings reported a net margin of 19.43% with earnings per share of $1.73, surpassing analysts' expectations.
• The company declared a quarterly dividend of $0.06 per share, resulting in an annualized yield of 0.3%.

Persistent Asset Partners Ltd increased its stake in QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 54.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,924 shares of the bank's stock after buying an additional 8,392 shares during the quarter. QCR comprises approximately 1.4% of Persistent Asset Partners Ltd's holdings, making the stock its 18th largest holding. Persistent Asset Partners Ltd owned approximately 0.14% of QCR worth $1,706,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of QCRH. New Age Alpha Advisors LLC bought a new stake in shares of QCR in the first quarter valued at about $46,000. Lazard Asset Management LLC raised its holdings in shares of QCR by 3,042.1% in the fourth quarter. Lazard Asset Management LLC now owns 597 shares of the bank's stock valued at $48,000 after acquiring an additional 578 shares in the last quarter. R Squared Ltd raised 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 valued at $232,000 after acquiring an additional 2,456 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in QCR in the fourth quarter valued at about $237,000. Finally, Hohimer Wealth Management LLC grew its stake in QCR by 4.9% in the first quarter. Hohimer Wealth Management LLC now owns 3,489 shares of the bank's stock valued at $249,000 after purchasing an additional 164 shares during the last quarter. 70.01% of the stock is currently owned by institutional investors.

QCR Stock Down 1.7%

Shares of NASDAQ QCRH traded down $1.33 on Friday, hitting $74.78. The company had a trading volume of 207,095 shares, compared to its average volume of 117,008. QCR Holdings, Inc. has a 12-month low of $60.83 and a 12-month high of $96.08. The business has a 50 day moving average of $70.81 and a two-hundred day moving average of $70.73. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $1.27 billion, a P/E ratio of 11.26 and a beta of 0.83.

QCR (NASDAQ:QCRH - Get Free Report) last announced its quarterly 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 analysts' expectations of $95.11 million. As a group, equities research analysts forecast that QCR Holdings, Inc. will post 6.82 earnings per share for the current fiscal year.

QCR Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 18th were given a $0.06 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. QCR's payout ratio is currently 3.61%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on QCRH shares. Piper Sandler lifted their target price on QCR from $88.00 to $92.50 and gave the company an "overweight" rating in a research note on Monday, July 28th. Raymond James Financial set a $78.00 target price on QCR and gave the stock an "outperform" rating in a report on Thursday, April 24th. Wall Street Zen raised shares of QCR from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. DA Davidson upped their target price on QCR from $80.00 to $87.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Finally, Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $92.00 price objective (up from $90.00) on shares of QCR in a research note on Friday, July 25th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus 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.