Denali Advisors LLC cut its stake in QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 48.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,971 shares of the bank's stock after selling 31,228 shares during the period. Denali Advisors LLC owned about 0.19% of QCR worth $2,351,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Hohimer Wealth Management LLC grew its stake 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 purchasing an additional 164 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in shares of QCR by 5.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 5,698 shares of the bank's stock worth $460,000 after purchasing an additional 283 shares during the period. MetLife Investment Management LLC grew its stake in shares of QCR by 3.2% during the 4th quarter. MetLife Investment Management LLC now owns 9,957 shares of the bank's stock worth $803,000 after purchasing an additional 313 shares during the period. Principal Financial Group Inc. lifted its position in shares of QCR by 3.6% during the 1st quarter. Principal Financial Group Inc. now owns 9,269 shares of the bank's stock valued at $661,000 after buying an additional 323 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of QCR by 4.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,326 shares of the bank's stock valued at $752,000 after buying an additional 365 shares in the last quarter. 70.01% of the stock is currently owned by institutional investors.
Insider Buying and Selling at QCR
In other news, CEO Larry J. Helling acquired 1,000 shares of the firm's stock in a transaction dated Monday, April 28th. The stock was acquired at an average cost of $64.53 per share, with a total value of $64,530.00. Following the completion of the acquisition, the chief executive officer owned 40,264 shares of the company's stock, valued at $2,598,235.92. The trade was a 2.55% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.70% of the company's stock.
QCR Stock Up 0.1%
Shares of QCR stock traded up $0.08 on Tuesday, reaching $75.35. 148,297 shares of the company were exchanged, compared to its average volume of 83,485. QCR Holdings, Inc. has a 1-year low of $60.83 and a 1-year high of $96.08. The company has a market cap of $1.28 billion, a P/E ratio of 11.33 and a beta of 0.80. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.98 and a quick ratio of 0.98. The stock's 50 day moving average price is $69.10 and its 200-day moving average price is $71.49.
QCR (NASDAQ:QCRH - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The bank reported $1.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.52 by $0.01. The firm had revenue of $76.88 million during the quarter, compared to the consensus estimate of $94.01 million. QCR had a return on equity of 12.03% and a net margin of 19.17%. During the same period in the prior year, the company posted $1.59 earnings per share. As a group, equities analysts forecast that QCR Holdings, Inc. will post 6.82 EPS for the current year.
QCR Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 18th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.32%. The ex-dividend date was Wednesday, June 18th. QCR's payout ratio is currently 3.61%.
Analyst Ratings Changes
QCRH has been the topic of a number of research reports. Keefe, Bruyette & Woods decreased their price objective on QCR from $99.00 to $90.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Piper Sandler decreased their price objective on QCR from $98.00 to $88.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Wall Street Zen lowered QCR from a "hold" rating to a "sell" rating in a report on Saturday, June 28th. Finally, Raymond James Financial set a $78.00 price objective on QCR and gave the company an "outperform" rating in a report on Thursday, April 24th.
Check Out Our Latest Report on QCRH
QCR Company Profile
(
Free Report)
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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