Wedge Capital Management L L P NC Cuts Stock Holdings in QCR Holdings, Inc. (NASDAQ:QCRH)

Wedge Capital Management L L P NC reduced its position in shares of QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 13.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,296 shares of the bank's stock after selling 5,583 shares during the period. Wedge Capital Management L L P NC owned 0.21% of QCR worth $2,589,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in QCR by 10.3% during the 4th quarter. JPMorgan Chase & Co. now owns 465,282 shares of the bank's stock worth $37,520,000 after buying an additional 43,439 shares in the last quarter. Geode Capital Management LLC increased its stake in QCR by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 402,487 shares of the bank's stock worth $32,464,000 after buying an additional 1,294 shares in the last quarter. American Century Companies Inc. increased its stake in QCR by 10.5% during the 4th quarter. American Century Companies Inc. now owns 387,702 shares of the bank's stock worth $31,264,000 after buying an additional 36,930 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its holdings in shares of QCR by 38.4% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 195,092 shares of the bank's stock worth $15,732,000 after purchasing an additional 54,161 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in shares of QCR by 0.3% during the 4th quarter. Nuveen Asset Management LLC now owns 177,026 shares of the bank's stock worth $14,275,000 after purchasing an additional 609 shares during the last quarter. 70.01% of the stock is currently owned by hedge funds and other institutional investors.

QCR Trading Down 2.8%

QCRH traded down $1.85 during trading hours on Friday, reaching $64.74. The company's stock had a trading volume of 89,212 shares, compared to its average volume of 78,971. QCR Holdings, Inc. has a fifty-two week low of $54.75 and a fifty-two week high of $96.08. The stock has a market cap of $1.10 billion, a PE ratio of 9.65 and a beta of 0.81. The business's 50-day moving average is $66.93 and its 200-day moving average is $74.74. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.02 and a quick ratio of 0.99.

QCR (NASDAQ:QCRH - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The bank reported $1.53 EPS for the quarter, beating analysts' consensus estimates of $1.52 by $0.01. QCR had a return on equity of 12.68% and a net margin of 19.06%. The firm had revenue of $76.88 million for the quarter, compared to analysts' expectations of $94.01 million. During the same period in the prior year, the firm posted $1.59 earnings per share. As a group, equities research analysts predict that QCR Holdings, Inc. will post 6.82 earnings per share for the current fiscal year.

QCR Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 18th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date of this dividend is Wednesday, June 18th. QCR's dividend payout ratio is presently 3.61%.

Insider Activity at QCR

In other news, CEO Larry J. Helling purchased 1,000 shares of the firm's stock in a transaction on Monday, April 28th. The shares were bought at an average cost of $64.53 per share, for a total transaction of $64,530.00. Following the completion of the purchase, the chief executive officer now directly owns 40,264 shares of the company's stock, valued at approximately $2,598,235.92. This trade represents a 2.55% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on QCRH. Piper Sandler lowered their target price 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 upgraded QCR from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Raymond James set a $78.00 target price on QCR and gave the stock an "outperform" rating in a report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods lowered their target price on QCR from $99.00 to $90.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th.

QCR Company 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.