Knights of Columbus Asset Advisors LLC Sells 9,778 Shares of QCR Holdings, Inc. (NASDAQ:QCRH)

Key Points

• Knights of Columbus Asset Advisors LLC decreased its stake in QCR Holdings, Inc. by 28.5% during the first quarter, now owning 24,522 shares valued at approximately $1.75 million.
• QCR Holdings reported $1.73 earnings per share for the last quarter, exceeding analyst expectations, with a return on equity of 11.86% and a net margin of 19.43%.
• The company recently declared a quarterly dividend of $0.06, representing an annualized yield of 0.32%, with a payout ratio of 3.61%.

Knights of Columbus Asset Advisors LLC cut its holdings in shares of QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 28.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,522 shares of the bank's stock after selling 9,778 shares during the quarter. Knights of Columbus Asset Advisors LLC owned about 0.14% of QCR worth $1,749,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in QCRH. Lazard Asset Management LLC increased 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 purchasing an additional 578 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in QCR during the 4th quarter worth $237,000. Hohimer Wealth Management LLC grew its holdings in 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 acquiring an additional 164 shares during the period. LPL Financial LLC acquired a new stake in QCR during the 4th quarter worth $263,000. Finally, Virtus Investment Advisers Inc. acquired a new stake in QCR during the 4th quarter worth $282,000. 70.01% of the stock is currently owned by institutional investors and hedge funds.

QCR Price Performance

QCR stock traded down $1.41 during midday trading on Monday, reaching $73.92. 125,659 shares of the stock were exchanged, compared to its average volume of 93,237. QCR Holdings, Inc. has a 52 week low of $60.83 and a 52 week high of $96.08. The company's fifty day moving average is $69.48 and its 200-day moving average is $71.37. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $1.25 billion, a PE ratio of 11.13 and a beta of 0.80.

QCR (NASDAQ:QCRH - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $84.20 million during the quarter, compared to analyst estimates of $95.11 million. QCR had a net margin of 19.43% and a return on equity of 11.86%. On average, sell-side 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. Investors of record on Wednesday, June 18th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.32%. The ex-dividend date was Wednesday, June 18th. QCR's dividend payout ratio (DPR) is 3.61%.

Analyst Ratings Changes

QCRH has been the subject of several research reports. DA Davidson increased their price objective on shares of QCR from $80.00 to $87.00 and gave the stock a "buy" rating in a research report on Friday. Piper Sandler lifted their target price on QCR from $88.00 to $92.50 and gave the stock an "overweight" rating in a research note on Monday. Raymond James Financial set a $78.00 price objective on shares of QCR and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Wall Street Zen raised shares of QCR from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Keefe, Bruyette & Woods restated an "outperform" rating and issued a $92.00 price target (up from $90.00) on shares of QCR in a research report on Friday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $87.38.

QCR Profile

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.