Public Employees Retirement System of Ohio Cuts Stake in QCR Holdings, Inc. $QCRH

Key Points

• The Public Employees Retirement System of Ohio has reduced its stake in QCR Holdings, Inc. by 63.8%, now holding 2,098 shares valued at approximately $142,000.
• QCR reported $1.73 earnings per share for the latest quarter, surpassing analysts' expectations of $1.63, despite lower-than-expected revenue of $84.20 million.
• QCR recently declared a quarterly dividend of $0.06 per share, contributing to an annualized dividend yield of 0.3%.

Public Employees Retirement System of Ohio lowered its position in shares of QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 63.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,098 shares of the bank's stock after selling 3,699 shares during the quarter. Public Employees Retirement System of Ohio's holdings in QCR were worth $142,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Wedge Capital Management L L P NC raised its position in QCR by 1.9% during the 2nd quarter. Wedge Capital Management L L P NC now owns 36,977 shares of the bank's stock worth $2,511,000 after buying an additional 681 shares during the last quarter. Strs Ohio purchased a new position in QCR during the 1st quarter worth $642,000. Jane Street Group LLC raised its position in QCR by 106.5% during the 1st quarter. Jane Street Group LLC now owns 30,052 shares of the bank's stock worth $2,143,000 after buying an additional 15,501 shares during the last quarter. Empowered Funds LLC raised its position in QCR by 2.0% during the 1st quarter. Empowered Funds LLC now owns 68,631 shares of the bank's stock worth $4,895,000 after buying an additional 1,364 shares during the last quarter. Finally, Dean Capital Management raised its position in QCR by 13.5% during the 1st quarter. Dean Capital Management now owns 32,050 shares of the bank's stock worth $2,286,000 after buying an additional 3,808 shares during the last quarter. Hedge funds and other institutional investors own 70.01% of the company's stock.

QCR Price Performance

QCR stock opened at $75.25 on Wednesday. QCR Holdings, Inc. has a 12-month low of $60.83 and a 12-month high of $96.08. The stock has a market capitalization of $1.27 billion, a P/E ratio of 11.33 and a beta of 0.83. The firm's 50-day moving average is $76.10 and its two-hundred day moving average is $71.26. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.98.

QCR (NASDAQ:QCRH - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The bank reported $1.73 earnings per share (EPS) for the quarter, topping 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 company had revenue of $84.20 million for the quarter, compared to analysts' expectations of $95.11 million. Equities analysts predict that QCR Holdings, Inc. will post 6.82 earnings per share for the current year.

QCR Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Thursday, September 18th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Thursday, September 18th. QCR's dividend payout ratio (DPR) is currently 3.61%.

Insider Activity

In other QCR news, CEO Laura L. Ekizian sold 333 shares of the firm's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $80.00, for a total transaction of $26,640.00. Following the sale, the chief executive officer directly owned 5,632 shares of the company's stock, valued at $450,560. This trade represents a 5.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on QCRH shares. Wall Street Zen upgraded shares of QCR from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. DA Davidson increased their price target on shares of QCR from $80.00 to $87.00 and gave the company a "buy" rating in a report on Friday, July 25th. Piper Sandler increased their price target on shares of QCR from $88.00 to $92.50 and gave the company an "overweight" rating in a report on Monday, July 28th. Weiss Ratings reiterated a "buy (b-)" rating on shares of QCR in a report on Saturday, September 27th. Finally, Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $92.00 price target (up previously from $90.00) on shares of QCR in a report on Friday, July 25th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "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.

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