QCR Holdings, Inc. $QCRH Stock: Sterling Capital Management LLC Trims Position

Key Points

• Sterling Capital Management cut its QCR Holdings stake by 27.8% in the third quarter, selling 10,910 shares and retaining 28,328 shares valued at approximately $2.8 million. Institutional investors and hedge funds collectively own 70.01% of the stock.
• Analysts maintain a generally positive outlook, with QCR receiving a “Moderate Buy” consensus rating and an average price target of $110.60. Recent targets range from $105 to $123.
• QCR exceeded quarterly earnings expectations, reporting $2.21 EPS versus a $2.09 consensus estimate, while increasing its quarterly dividend from $0.10 to $0.15 per share, equivalent to a 0.6% annualized yield.

Sterling Capital Management LLC lessened its stake in shares of QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 27.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,328 shares of the bank's stock after selling 10,910 shares during the period. Sterling Capital Management LLC owned 0.17% of QCR worth $2,773,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its holdings in shares of QCR by 18.4% during the 2nd quarter. Wellington Management Group LLP now owns 284,295 shares of the bank's stock worth $27,676,000 after purchasing an additional 44,106 shares during the period. Globeflex Capital L P acquired a new stake in QCR during the 2nd quarter worth approximately $1,767,000. WCM Investment Management LLC boosted its holdings in QCR by 16.9% in the first quarter. WCM Investment Management LLC now owns 71,300 shares of the bank's stock valued at $6,018,000 after purchasing an additional 10,314 shares during the period. Hsbc Holdings PLC purchased a new position in shares of QCR in the 4th quarter valued at about $1,245,000. Finally, Bank of New York Mellon Corp acquired a new position in QCR during the 2nd quarter worth approximately $7,300,000. 70.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

QCRH has been the topic of a number of recent analyst reports. Piper Sandler reiterated an "overweight" rating and issued a $123.00 price objective (up from $107.00) on shares of QCR in a report on Monday, July 27th. Weiss Ratings raised QCR from a "buy (b)" rating to a "buy (b+)" rating in a report on Friday. Keefe, Bruyette & Woods boosted their target price on QCR from $105.00 to $108.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. DA Davidson raised their price objective on shares of QCR from $97.00 to $105.00 and gave the company a "neutral" rating in a research note on Monday, July 27th. Finally, Stephens initiated coverage on QCR in a report on Friday, September 18th. They set an "equal weight" rating and a $107.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $110.60.

QCR Stock Performance

Shares of QCRH stock opened at $103.37 on Monday. QCR Holdings, Inc. has a 12 month low of $71.69 and a 12 month high of $108.11. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $1.69 billion, a P/E ratio of 12.15 and a beta of 0.74. The company's fifty day moving average price is $100.42 and its two-hundred day moving average price is $96.97.

QCR (NASDAQ:QCRH - Get Free Report) last announced its earnings results on Tuesday, October 20th. The bank reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.12. QCR had a return on equity of 12.71% and a net margin of 23.17%. The company had revenue of $99.17 million during the quarter, compared to the consensus estimate of $108.97 million. On average, research analysts anticipate that QCR Holdings, Inc. will post 8.58 earnings per share for the current fiscal year.

QCR Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Friday, September 18th were paid a dividend of $0.15 per share. This is a boost from QCR's previous quarterly dividend of $0.10. The ex-dividend date was Friday, September 18th. This represents a $0.60 dividend on an annualized basis and a yield of 0.6%. QCR's payout ratio is 7.05%.

About QCR

QCR Holdings, Inc NASDAQ: QCRH is a bank holding company that provides commercial and consumer banking services through a group of community banking subsidiaries. Its offerings include business and consumer loans, deposit accounts, treasury management, mortgage lending, cash management, and related financial services.

The company serves businesses, individuals, families, and institutions in selected Midwestern markets. Its banking operations have a presence in eastern Iowa, the Quad Cities region of Iowa and Illinois, and communities in Missouri, with a focus on relationship-based commercial banking and local decision-making.

QCR Holdings traces its origins to the early 1990s and has expanded through the development and acquisition of community banks.

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