QCR Holdings, Inc. $QCRH Shares Sold by Comerica Bank

Key Points

• Comerica Bank sold 48.9% of its shares in QCR Holdings, Inc., reducing its holdings to 7,281 shares valued at approximately $519,000.
• QCR Holdings reported an EPS of $1.73 for its latest quarter, exceeding analysts' expectations, but its revenue fell short of estimates at $84.2 million.
• The company announced a quarterly dividend of $0.06 per share, with the ex-dividend date set for September 18th.

Comerica Bank lowered its stake in QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 48.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,281 shares of the bank's stock after selling 6,957 shares during the period. Comerica Bank's holdings in QCR were worth $519,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Hohimer Wealth Management LLC raised its holdings in shares of QCR by 4.9% in the first quarter. Hohimer Wealth Management LLC now owns 3,489 shares of the bank's stock worth $249,000 after buying an additional 164 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of QCR by 5.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 5,698 shares of the bank's stock worth $460,000 after buying an additional 283 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of QCR by 3.6% in the first quarter. Principal Financial Group Inc. now owns 9,269 shares of the bank's stock worth $661,000 after buying an additional 323 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of QCR by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,326 shares of the bank's stock worth $752,000 after buying an additional 365 shares during the last quarter. Finally, Lazard Asset Management LLC raised 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 worth $48,000 after buying an additional 578 shares during the last quarter. Hedge funds and other institutional investors own 70.01% of the company's stock.

Insiders Place Their Bets

In other QCR news, CEO Laura L. Ekizian sold 1,000 shares of QCR stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $80.00, for a total value of $80,000.00. Following the completion of the transaction, the chief executive officer owned 5,965 shares of the company's stock, valued at approximately $477,200. The trade was a 14.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.70% of the company's stock.

QCR Stock Performance

Shares of QCR stock traded down $1.34 during trading on Friday, hitting $76.78. 92,937 shares of the company's stock were exchanged, compared to its average volume of 80,581. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.98 and a current ratio of 0.98. The business has a 50-day simple moving average of $75.01 and a 200-day simple moving average of $70.82. QCR Holdings, Inc. has a 52-week low of $60.83 and a 52-week high of $96.08. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 11.56 and a beta of 0.87.

QCR (NASDAQ:QCRH - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The bank reported $1.73 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.10. QCR had a net margin of 19.43% and a return on equity of 11.71%. The company had revenue of $84.20 million during the quarter, compared to analysts' expectations of $95.11 million. On average, research 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 will be paid on Friday, October 3rd. Shareholders of record on Thursday, September 18th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, September 18th. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. QCR's payout ratio is presently 3.61%.

Analyst Ratings Changes

A number of research analysts have issued reports on QCRH shares. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $92.00 price target (up previously from $90.00) on shares of QCR in a report on Friday, July 25th. Wall Street Zen raised shares of QCR from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. DA Davidson raised their target price on shares of QCR from $80.00 to $87.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Finally, Piper Sandler raised their target price on shares of QCR from $88.00 to $92.50 and gave the stock an "overweight" rating in a report on Monday, July 28th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $87.38.

About QCR

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.