QCR Holdings, Inc. $QCRH Shares Purchased by Wellington Management Group LLP

Key Points

• Wellington Management increased its QCR Holdings stake by 18.4% in the second quarter, reaching 284,295 shares valued at approximately $27.7 million. Institutional investors collectively own 70.01% of the company.
• QCR reported quarterly earnings of $2.19 per share, beating estimates of $1.91, although revenue of $97.34 million fell short of the $104.10 million forecast.
• The company raised its quarterly dividend from $0.10 to $0.15 per share, while analysts maintained a “Moderate Buy” consensus with an average price target of $108.75.

Wellington Management Group LLP boosted its position in QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 18.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 284,295 shares of the bank's stock after buying an additional 44,106 shares during the period. Wellington Management Group LLP owned approximately 1.74% of QCR worth $27,676,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Kennedy Capital Management LLC grew its position in QCR by 9.7% during the 4th quarter. Kennedy Capital Management LLC now owns 762,068 shares of the bank's stock worth $63,480,000 after purchasing an additional 67,517 shares during the period. Endeavour Capital Advisors Inc. lifted its holdings in shares of QCR by 23.3% in the 4th quarter. Endeavour Capital Advisors Inc. now owns 328,497 shares of the bank's stock valued at $27,364,000 after buying an additional 62,032 shares during the period. Bridgeway Capital Management LLC boosted its stake in shares of QCR by 2.1% in the third quarter. Bridgeway Capital Management LLC now owns 174,571 shares of the bank's stock worth $13,205,000 after buying an additional 3,568 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in shares of QCR by 28.4% in the second quarter. Qube Research & Technologies Ltd now owns 155,127 shares of the bank's stock worth $10,533,000 after buying an additional 34,346 shares during the last quarter. Finally, Rhino Investment Partners Inc grew its holdings in QCR by 122.1% during the first quarter. Rhino Investment Partners Inc now owns 133,324 shares of the bank's stock worth $11,393,000 after acquiring an additional 73,308 shares during the period. 70.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Laura Ekizian sold 750 shares of the business's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $94.96, for a total transaction of $71,220.00. Following the completion of the sale, the chief executive officer directly owned 6,093 shares in the company, valued at approximately $578,591.28. The trade was a 10.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.20% of the stock is owned by corporate insiders.

QCR Stock Performance

NASDAQ:QCRH opened at $102.69 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $1.68 billion, a PE ratio of 12.14 and a beta of 0.73. QCR Holdings, Inc. has a fifty-two week low of $66.65 and a fifty-two week high of $108.11. The company has a fifty day moving average of $100.55 and a two-hundred day moving average of $93.49.

QCR (NASDAQ:QCRH - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The bank reported $2.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.91 by $0.28. QCR had a net margin of 22.86% and a return on equity of 12.87%. The firm had revenue of $97.34 million for the quarter, compared to analyst estimates of $104.10 million. As a group, research analysts forecast that QCR Holdings, Inc. will post 8.5 earnings per share for the current fiscal year.

QCR Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Friday, September 18th will be paid a $0.15 dividend. This is a boost from QCR's previous quarterly dividend of $0.10. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, September 18th. QCR's dividend payout ratio is presently 4.73%.

Analysts Set New Price Targets

Several equities research analysts have commented on QCRH shares. Piper Sandler restated an "overweight" rating and issued a $123.00 price objective (up from $107.00) on shares of QCR in a research report on Monday, July 27th. DA Davidson lifted their target price on shares of QCR from $97.00 to $105.00 and gave the company a "neutral" rating in a report on Monday, July 27th. Weiss Ratings reiterated a "buy (b)" rating on shares of QCR in a research note on Monday, July 6th. Finally, Keefe, Bruyette & Woods raised their price target on shares of QCR from $105.00 to $108.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, QCR currently has a consensus rating of "Moderate Buy" and an average price target of $108.75.

About QCR

QCR Holdings, Inc, headquartered in Moline, Illinois, is a bank holding company that delivers community banking services through its wholly owned subsidiary, QCR Bank. The company focuses on serving individuals, small to medium-sized businesses and municipal clients in select Midwestern markets.

QCR Bank offers a broad array of deposit and lending products, including personal and business checking and savings accounts, commercial real estate loans, equipment financing, mortgage lending and treasury management solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source