Assenagon Asset Management S.A. Purchases New Position in QCR Holdings, Inc. (NASDAQ:QCRH)

Assenagon Asset Management S.A. purchased a new stake in shares of QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 29,690 shares of the bank's stock, valued at approximately $1,734,000. Assenagon Asset Management S.A. owned approximately 0.18% of QCR at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of QCRH. BKM Wealth Management LLC purchased a new stake in shares of QCR in the 4th quarter valued at $33,000. Vanguard Group Inc. increased its stake in shares of QCR by 1.7% in the third quarter. Vanguard Group Inc. now owns 912,313 shares of the bank's stock worth $44,265,000 after acquiring an additional 15,587 shares during the period. Deutsche Bank AG increased its stake in shares of QCR by 23.0% in the third quarter. Deutsche Bank AG now owns 7,280 shares of the bank's stock worth $353,000 after acquiring an additional 1,359 shares during the period. Comerica Bank acquired a new stake in shares of QCR in the third quarter worth $1,309,000. Finally, Creative Planning increased its stake in shares of QCR by 12.3% in the third quarter. Creative Planning now owns 5,694 shares of the bank's stock worth $276,000 after acquiring an additional 622 shares during the period. Institutional investors and hedge funds own 70.01% of the company's stock.

QCR Stock Performance

QCRH stock traded up $0.05 during midday trading on Friday, hitting $57.47. 59,677 shares of the stock traded hands, compared to its average volume of 57,183. The firm has a market cap of $964.92 million, a P/E ratio of 8.54 and a beta of 0.95. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.04 and a quick ratio of 1.04. The stock's fifty day simple moving average is $57.47 and its 200-day simple moving average is $54.33. QCR Holdings, Inc. has a 1-year low of $35.14 and a 1-year high of $62.94.

QCR (NASDAQ:QCRH - Get Free Report) last posted its quarterly earnings data on Tuesday, January 23rd. The bank reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.61. The business had revenue of $103.47 million for the quarter, compared to the consensus estimate of $81.57 million. QCR had a net margin of 20.80% and a return on equity of 13.78%. On average, analysts expect that QCR Holdings, Inc. will post 5.79 earnings per share for the current year.

QCR Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Friday, March 15th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Thursday, March 14th. QCR's payout ratio is 3.57%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on QCRH shares. Raymond James increased their price objective on shares of QCR from $60.00 to $72.00 and gave the stock an "outperform" rating in a research note on Monday, January 29th. Keefe, Bruyette & Woods raised their price target on shares of QCR from $69.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, January 25th. Finally, Piper Sandler raised their price target on shares of QCR from $67.00 to $74.00 and gave the company an "overweight" rating in a research report on Thursday, January 25th.

Insider Buying and Selling at QCR

In other QCR news, CFO Todd A. Gipple sold 6,791 shares of the stock in a transaction on Friday, January 26th. The shares were sold at an average price of $61.00, for a total transaction of $414,251.00. Following the transaction, the chief financial officer now directly owns 40,043 shares of the company's stock, valued at $2,442,623. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Todd A. Gipple sold 6,791 shares of the firm's stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $61.00, for a total value of $414,251.00. Following the transaction, the chief financial officer now directly owns 40,043 shares of the company's stock, valued at $2,442,623. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Larry J. Helling purchased 1,000 shares of the firm's stock in a transaction dated Monday, February 5th. The stock was acquired at an average cost of $56.00 per share, for a total transaction of $56,000.00. Following the completion of the purchase, the chief executive officer now owns 36,601 shares of the company's stock, valued at approximately $2,049,656. The disclosure for this purchase can be found here. Insiders own 3.50% 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.