Denali Advisors LLC trimmed its holdings in QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 48.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in QCRH. Deutsche Bank AG boosted its position in shares of QCR by 49.1% during the fourth quarter. Deutsche Bank AG now owns 13,831 shares of the bank's stock worth $1,115,000 after buying an additional 4,553 shares during the period. Invesco Ltd. boosted its position in QCR by 9.8% during the fourth quarter. Invesco Ltd. now owns 34,575 shares of the bank's stock valued at $2,788,000 after purchasing an additional 3,083 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in QCR by 6.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 145,990 shares of the bank's stock valued at $11,773,000 after purchasing an additional 9,292 shares during the last quarter. Lazard Asset Management LLC boosted its position in QCR by 3,042.1% during the fourth quarter. Lazard Asset Management LLC now owns 597 shares of the bank's stock valued at $48,000 after purchasing an additional 578 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in QCR by 72.8% during the fourth quarter. Bank of America Corp DE now owns 35,191 shares of the bank's stock valued at $2,838,000 after purchasing an additional 14,825 shares during the last quarter. 70.01% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
QCRH has been the subject of several recent research reports. Raymond James Financial set a $78.00 price target on QCR and gave the company an "outperform" rating in a research report on Thursday, April 24th. Wall Street Zen lowered QCR from a "hold" rating to a "sell" rating in a research note on Saturday, June 28th. Keefe, Bruyette & Woods dropped their price objective on QCR from $99.00 to $90.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Finally, Piper Sandler dropped their price objective on QCR from $98.00 to $88.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th.
Check Out Our Latest Analysis on QCRH
QCR Stock Performance
Shares of NASDAQ QCRH traded up $0.04 during trading hours on Friday, reaching $75.14. 127,572 shares of the stock were exchanged, compared to its average volume of 82,998. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 11.30 and a beta of 0.80. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.98 and a current ratio of 0.98. QCR Holdings, Inc. has a 52 week low of $60.83 and a 52 week high of $96.08. The stock's fifty day simple moving average is $68.99 and its 200 day simple moving average is $71.58.
QCR (NASDAQ:QCRH - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The bank reported $1.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.52 by $0.01. The business had revenue of $76.88 million for 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 quarter in the prior year, the business posted $1.59 earnings per share. Sell-side analysts predict 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 was paid on Thursday, July 3rd. Investors of record on Wednesday, June 18th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date was Wednesday, June 18th. QCR's dividend payout ratio is currently 3.61%.
Insider Transactions at QCR
In other QCR news, CEO Larry J. Helling bought 1,000 shares of QCR stock in a transaction on Monday, April 28th. The shares were purchased at an average price of $64.53 per share, with a total value of $64,530.00. Following the acquisition, the chief executive officer owned 40,264 shares in the company, valued at $2,598,235.92. This trade represents a 2.55% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.70% of the stock is owned by corporate insiders.
QCR Profile
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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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