Renaissance Technologies LLC Sells 22,700 Shares of QCR Holdings, Inc. $QCRH

Key Points

• Renaissance Technologies reduced its QCR Holdings stake by 10%, selling 22,700 shares and retaining 205,171 shares valued at approximately $17.5 million. Institutional investors collectively own 70.01% of the company.
• Analyst sentiment remains favorable, with four Buy ratings and two Holds producing a consensus “Moderate Buy” rating and an average price target of $108.75.
• QCR reported quarterly EPS of $2.19, exceeding the $1.91 consensus estimate, while revenue of $97.34 million fell short of expectations. The company also maintains a quarterly dividend of $0.10 per share.

Renaissance Technologies LLC lessened its holdings in QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 10.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 205,171 shares of the bank's stock after selling 22,700 shares during the quarter. Renaissance Technologies LLC owned 1.24% of QCR worth $17,532,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of QCRH. Kennedy Capital Management LLC boosted its stake in QCR by 9.7% in the fourth quarter. Kennedy Capital Management LLC now owns 762,068 shares of the bank's stock valued at $63,480,000 after buying an additional 67,517 shares in the last quarter. Endeavour Capital Advisors Inc. grew its holdings in shares of QCR by 23.3% during the 4th quarter. Endeavour Capital Advisors Inc. now owns 328,497 shares of the bank's stock valued at $27,364,000 after purchasing an additional 62,032 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of QCR by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 243,762 shares of the bank's stock valued at $18,438,000 after purchasing an additional 1,118 shares during the last quarter. Bridgeway Capital Management LLC increased its position in QCR by 2.1% during the 3rd quarter. Bridgeway Capital Management LLC now owns 174,571 shares of the bank's stock worth $13,205,000 after purchasing an additional 3,568 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its stake in QCR by 28.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 155,127 shares of the bank's stock valued at $10,533,000 after purchasing an additional 34,346 shares during the last quarter. Institutional investors and hedge funds own 70.01% of the company's stock.

Wall Street Analysts Forecast Growth

QCRH has been the subject of several research analyst reports. DA Davidson upped their price target on shares of QCR from $97.00 to $105.00 and gave the stock a "neutral" rating in a report on Monday. Piper Sandler reiterated an "overweight" rating and issued a $123.00 target price (up from $107.00) on shares of QCR in a research report on Monday. Raymond James Financial restated an "outperform" rating and set a $99.00 price target on shares of QCR in a report on Monday, April 27th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of QCR in a research note on Monday, July 6th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of QCR from $105.00 to $108.00 and gave the company an "outperform" rating in a report on Friday, July 24th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $108.75.

Insider Activity at QCR

In other QCR news, CEO Laura L. Ekizian sold 750 shares of QCR stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $94.96, for a total value 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 SEC, which can be accessed through this hyperlink. 3.20% of the stock is currently owned by insiders.

QCR Trading Up 0.2%

NASDAQ QCRH opened at $103.10 on Friday. The business's 50-day moving average price is $95.91 and its two-hundred day moving average price is $91.09. QCR Holdings, Inc. has a 12 month low of $66.65 and a 12 month high of $104.29. The firm has a market capitalization of $1.70 billion, a PE ratio of 12.19 and a beta of 0.75. The company has a current ratio of 0.96, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37.

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 the consensus estimate of $1.91 by $0.28. The company had revenue of $97.34 million during the quarter, compared to analysts' expectations of $104.10 million. QCR had a return on equity of 13.00% and a net margin of 22.86%. On average, analysts expect that QCR Holdings, Inc. will post 8.5 EPS for the current year.

QCR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 3rd. Stockholders of record on Thursday, June 18th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Thursday, June 18th. QCR's payout ratio is currently 4.73%.

QCR Profile

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.

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