Principal Financial Group Inc. Invests $1.80 Million in QCR Holdings, Inc. $QCRH

Key Points

• Principal Financial Group acquired 21,059 QCR Holdings shares worth approximately $1.8 million, while institutional investors collectively own 70.01% of the bank’s stock.
• QCR reported quarterly EPS of $2.19, beating estimates of $1.91, though revenue of $97.34 million fell short of the $104.10 million consensus forecast.
• Analysts maintain a broadly positive outlook, with a “Moderate Buy” consensus rating and an average price target of $108.75; QCR also pays a $0.10 quarterly dividend.

Principal Financial Group Inc. acquired a new stake in QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 21,059 shares of the bank's stock, valued at approximately $1,799,000. Principal Financial Group Inc. owned about 0.13% of QCR as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in QCRH. Assetmark Inc. acquired a new stake in QCR in the 4th quarter valued at $37,000. Farther Finance Advisors LLC boosted its stake in shares of QCR by 34.6% during the 4th quarter. Farther Finance Advisors LLC now owns 576 shares of the bank's stock worth $48,000 after buying an additional 148 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in shares of QCR during the 4th quarter worth about $61,000. Blue Trust Inc. bought a new position in shares of QCR in the 1st quarter valued at about $71,000. Finally, Quadrant Capital Group LLC bought a new position in shares of QCR in the 3rd quarter valued at about $72,000. Institutional investors own 70.01% of the company's stock.

QCR Stock Up 0.2%

Shares of QCRH stock opened at $103.10 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.89 and a current ratio of 0.96. The firm's 50-day moving average is $95.91 and its 200-day moving average is $91.09. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 12.19 and a beta of 0.75. QCR Holdings, Inc. has a 52-week low of $66.65 and a 52-week high of $104.29.

QCR (NASDAQ:QCRH - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The bank reported $2.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.28. QCR had a net margin of 22.86% and a return on equity of 13.00%. The business had revenue of $97.34 million during the quarter, compared to the consensus estimate of $104.10 million. Sell-side analysts predict that QCR Holdings, Inc. will post 8.5 EPS for the current year.

QCR Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 3rd. Stockholders of record on Thursday, June 18th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Thursday, June 18th. QCR's dividend payout ratio (DPR) is presently 4.73%.

Insider Activity

In other news, CEO Laura L. Ekizian sold 750 shares of QCR stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $94.96, for a total transaction of $71,220.00. Following the completion of the transaction, the chief executive officer directly owned 6,093 shares in the company, valued at approximately $578,591.28. The trade was a 10.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of QCR in a report on Monday, July 6th. Piper Sandler restated an "overweight" rating and issued a $123.00 price target (up from $107.00) on shares of QCR in a research note on Monday. Raymond James Financial reaffirmed an "outperform" rating and set a $99.00 price target on shares of QCR in a research report on Monday, April 27th. Keefe, Bruyette & Woods upped their price objective on QCR from $105.00 to $108.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Finally, DA Davidson upped their price objective on QCR from $97.00 to $105.00 and gave the stock a "neutral" rating in a research note on Monday. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $108.75.

QCR Company Profile

QCR Holdings, Inc, headquartered in Moline, Illinois, is a bank holding company that delivers community banking services through its wholly owned subsidiary, QCR Bank. The company focuses on serving individuals, small to medium-sized businesses and municipal clients in select Midwestern markets.

QCR Bank offers a broad array of deposit and lending products, including personal and business checking and savings accounts, commercial real estate loans, equipment financing, mortgage lending and treasury management solutions.

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