Raymond James Financial Inc. Raises Position in QCR Holdings, Inc. $QCRH

Key Points

• Raymond James Financial Inc. increased its holdings in QCR Holdings by 24.8%, owning approximately $4.39 million worth of shares after acquiring additional stock in the first quarter.
• QCR Holdings recently announced a quarterly dividend of $0.06 per share, with a dividend yield of 0.3% and a payout ratio of 3.61%.
• The company reported a quarterly earnings per share (EPS) of $1.73, exceeding analysts' expectations, while also noting a net margin of 19.43% and forecasted EPS of 6.82 for the current fiscal year.

Raymond James Financial Inc. raised its position in QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 24.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,603 shares of the bank's stock after buying an additional 12,256 shares during the quarter. Raymond James Financial Inc. owned 0.36% of QCR worth $4,394,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of QCRH. Persistent Asset Partners Ltd increased its holdings in QCR by 54.0% in the 1st quarter. Persistent Asset Partners Ltd now owns 23,924 shares of the bank's stock valued at $1,706,000 after buying an additional 8,392 shares during the period. Nuveen LLC bought a new position in QCR in the 1st quarter valued at about $14,618,000. Invesco Ltd. increased its holdings in QCR by 90.7% in the 1st quarter. Invesco Ltd. now owns 65,930 shares of the bank's stock valued at $4,702,000 after buying an additional 31,355 shares during the period. Deutsche Bank AG raised its holdings in shares of QCR by 93.3% during the 1st quarter. Deutsche Bank AG now owns 26,738 shares of the bank's stock worth $1,907,000 after buying an additional 12,907 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of QCR by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 952,780 shares of the bank's stock worth $67,952,000 after buying an additional 7,002 shares in the last quarter. 70.01% of the stock is owned by institutional investors.

QCR Stock Down 1.3%

Shares of QCR stock traded down $1.03 during trading on Tuesday, reaching $77.97. 71,241 shares of the company traded hands, compared to its average volume of 93,689. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.98. QCR Holdings, Inc. has a 1-year low of $60.83 and a 1-year high of $96.08. The company has a 50 day moving average price of $74.59 and a 200-day moving average price of $70.70. The firm has a market capitalization of $1.32 billion, a PE ratio of 11.74 and a beta of 0.87.

QCR (NASDAQ:QCRH - Get Free Report) last released its earnings results on Wednesday, July 23rd. The bank reported $1.73 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $95.11 million. As a group, equities research analysts expect that QCR Holdings, Inc. will post 6.82 earnings per share for the current fiscal year.

QCR Announces Dividend

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

Analyst Ratings Changes

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

Insider Transactions at QCR

In other QCR news, CEO Laura L. Ekizian sold 333 shares of the business's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $80.00, for a total transaction of $26,640.00. Following the completion of the sale, the chief executive officer owned 5,632 shares in the company, valued at approximately $450,560. The trade was a 5.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.70% of the company's stock.

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.