Knights of Columbus Asset Advisors LLC Decreases Stock Holdings in 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% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,522 shares of the bank's stock after selling 9,778 shares during the period. Knights of Columbus Asset Advisors LLC owned about 0.14% of QCR worth $1,749,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Lazard Asset Management LLC increased its stake in shares of QCR by 3,042.1% in the 4th quarter. Lazard Asset Management LLC now owns 597 shares of the bank's stock valued at $48,000 after acquiring an additional 578 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in shares of QCR in the 4th quarter worth $237,000. Hohimer Wealth Management LLC grew its stake in shares of QCR by 4.9% in 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 in the last quarter. LPL Financial LLC bought a new position in QCR during the fourth quarter valued at about $263,000. Finally, Virtus Investment Advisers Inc. bought a new position in QCR during the fourth quarter valued at about $282,000. Institutional investors and hedge funds own 70.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on QCRH. Piper Sandler increased their price target on shares of QCR from $88.00 to $92.50 and gave the stock an "overweight" rating in a report on Monday. Keefe, Bruyette & Woods restated an "outperform" rating and issued a $92.00 price objective (up from $90.00) on shares of QCR in a research report on Friday, July 25th. Raymond James Financial set a $78.00 price objective on shares of QCR and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Wall Street Zen upgraded shares of QCR from a "sell" rating to a "hold" rating in a report on Saturday. Finally, DA Davidson raised their price objective on QCR from $80.00 to $87.00 and gave the company a "buy" rating in a research report on Friday, July 25th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, QCR presently has a consensus rating of "Moderate Buy" and a consensus price target of $87.38.

QCR Stock Up 0.7%

Shares of QCRH traded up $0.50 during trading hours on Wednesday, hitting $73.14. The company had a trading volume of 32,722 shares, compared to its average volume of 92,957. The firm has a fifty day moving average price of $69.57 and a 200-day moving average price of $71.36. 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 stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 11.01 and a beta of 0.80. QCR Holdings, Inc. has a 52-week low of $60.83 and a 52-week high of $96.08.

QCR (NASDAQ:QCRH - Get Free Report) last issued its earnings results 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. QCR had a return on equity of 11.86% and a net margin of 19.43%. The business had revenue of $84.20 million during the quarter, compared to analyst estimates of $95.11 million. On average, equities research analysts forecast that QCR Holdings, Inc. will post 6.82 EPS for the current fiscal year.

QCR Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 18th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.33%. QCR's dividend payout ratio is currently 3.61%.

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.