Comerica Bank Cuts Stock Holdings in QCR Holdings, Inc. $QCRH

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 decreased its stake in shares of 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 SEC. The fund owned 7,281 shares of the bank's stock after selling 6,957 shares during the quarter. Comerica Bank's holdings in QCR were worth $519,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Deutsche Bank AG boosted its position in shares of QCR by 49.1% during the fourth quarter. Deutsche Bank AG now owns 13,831 shares of the bank's stock worth $1,115,000 after acquiring an additional 4,553 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of QCR by 0.7% during the first quarter. Vanguard Group Inc. now owns 952,780 shares of the bank's stock worth $67,952,000 after acquiring an additional 7,002 shares during the last quarter. Larson Financial Group LLC bought a new position in shares of QCR during the first quarter worth $363,000. Lazard Asset Management LLC boosted its position in shares of QCR by 3,042.1% during the fourth quarter. Lazard Asset Management LLC now owns 597 shares of the bank's stock worth $48,000 after acquiring an additional 578 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of QCR by 3.6% during the first quarter. Principal Financial Group Inc. now owns 9,269 shares of the bank's stock worth $661,000 after acquiring an additional 323 shares during the last quarter. Institutional investors own 70.01% of the company's stock.

QCR Trading Down 1.3%

QCRH stock traded down $1.03 during trading on Tuesday, hitting $77.97. The company had a trading volume of 71,241 shares, compared to its average volume of 89,003. The firm has a market capitalization of $1.32 billion, a P/E ratio of 11.74 and a beta of 0.87. QCR Holdings, Inc. has a 52-week low of $60.83 and a 52-week high of $96.08. The company has a 50 day simple moving average of $74.74 and a 200-day simple moving average of $70.75. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.48.

QCR (NASDAQ:QCRH - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The bank reported $1.73 EPS for the quarter, topping the consensus estimate of $1.63 by $0.10. The company had revenue of $84.20 million for the quarter, compared to the consensus estimate of $95.11 million. QCR had a net margin of 19.43% and a return on equity of 11.71%. As a group, research analysts forecast that QCR Holdings, Inc. will post 6.82 earnings per share for the current fiscal year.

QCR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Thursday, September 18th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, September 18th. QCR's dividend payout ratio (DPR) is currently 3.61%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other QCR news, CEO Laura L. Ekizian sold 1,000 shares of the firm's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $80.00, for a total transaction of $80,000.00. Following the transaction, the chief executive officer owned 5,965 shares of the company's stock, valued at approximately $477,200. This trade represents a 14.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.70% of the company's stock.

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.