9,000 Shares in QCR Holdings, Inc. $QCRH Bought by Strs Ohio

Key Points

• Strs Ohio has acquired a new stake of 9,000 shares in QCR Holdings, Inc. valued at approximately $642,000, increasing its ownership to 0.05% by the end of the most recent quarter.
• QCR Holdings recently reported earnings per share of $1.73, exceeding analysts' expectations, although its revenue for the quarter was below expectations at $84.20 million.
• The company announced a quarterly dividend of $0.06 per share, with an annualized dividend yield of 0.3%, payable to shareholders of record on September 18th.

Strs Ohio purchased a new stake in QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 9,000 shares of the bank's stock, valued at approximately $642,000. Strs Ohio owned approximately 0.05% of QCR as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new position in shares of QCR during the first quarter worth approximately $14,618,000. Millennium Management LLC lifted its position in shares of QCR by 124.5% during the first quarter. Millennium Management LLC now owns 98,583 shares of the bank's stock worth $7,031,000 after purchasing an additional 54,678 shares in the last quarter. Boothbay Fund Management LLC lifted its position in shares of QCR by 62.5% during the first quarter. Boothbay Fund Management LLC now owns 136,140 shares of the bank's stock worth $9,710,000 after purchasing an additional 52,340 shares in the last quarter. Invesco Ltd. lifted its position in shares of QCR by 90.7% during the first quarter. Invesco Ltd. now owns 65,930 shares of the bank's stock worth $4,702,000 after purchasing an additional 31,355 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in shares of QCR by 22.5% during the first quarter. Royal Bank of Canada now owns 144,589 shares of the bank's stock worth $10,312,000 after purchasing an additional 26,567 shares in the last quarter. 70.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Laura L. Ekizian sold 333 shares of the 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 of the company's stock, valued at $450,560. This represents a 5.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

QCR Stock Down 0.4%

Shares of QCRH stock traded down $0.29 during trading hours on Tuesday, hitting $77.82. 27,003 shares of the company were exchanged, compared to its average volume of 94,355. The business has a 50 day moving average of $75.66 and a two-hundred day moving average of $70.98. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.48. QCR Holdings, Inc. has a 52 week low of $60.83 and a 52 week high of $96.08. The company has a market capitalization of $1.32 billion, a PE ratio of 11.72 and a beta of 0.87.

QCR (NASDAQ:QCRH - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The bank reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $95.11 million. Analysts anticipate that QCR Holdings, Inc. will post 6.82 earnings per share for the current fiscal year.

QCR Announces Dividend

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

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.