Pinnacle Holdings LLC Decreases Stock Position in QCR Holdings, Inc. (NASDAQ:QCRH)

Pinnacle Holdings LLC decreased its holdings in shares of QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 97.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,222 shares of the bank's stock after selling 73,842 shares during the quarter. Pinnacle Holdings LLC's holdings in QCR were worth $179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in QCRH. Raymond James Financial Inc. bought a new stake in QCR during the fourth quarter valued at $3,979,000. Assenagon Asset Management S.A. bought a new position in shares of QCR during the 4th quarter valued at about $3,755,000. JPMorgan Chase & Co. raised its holdings in shares of QCR by 10.3% during the 4th quarter. JPMorgan Chase & Co. now owns 465,282 shares of the bank's stock valued at $37,520,000 after buying an additional 43,439 shares in the last quarter. American Century Companies Inc. increased its stake in shares of QCR by 10.5% in the fourth quarter. American Century Companies Inc. now owns 387,702 shares of the bank's stock worth $31,264,000 after buying an additional 36,930 shares during the period. Finally, Schroder Investment Management Group raised its holdings in QCR by 29.0% during the 4th quarter. Schroder Investment Management Group now owns 150,525 shares of the bank's stock valued at $12,141,000 after buying an additional 33,806 shares during the last quarter. Hedge funds and other institutional investors own 70.01% of the company's stock.

Insider Activity

In other news, insider James D. Klein sold 630 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $73.40, for a total transaction of $46,242.00. Following the completion of the sale, the insider now owns 428 shares of the company's stock, valued at $31,415.20. This represents a 59.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Nicole A. Lee bought 1,094 shares of QCR stock in a transaction on Wednesday, January 29th. The shares were acquired at an average cost of $78.47 per share, with a total value of $85,846.18. Following the completion of the acquisition, the executive vice president now owns 1,881 shares of the company's stock, valued at $147,602.07. The trade was a 139.01 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.70% of the company's stock.

QCR Trading Down 1.0 %

Shares of QCR stock traded down $0.62 during midday trading on Monday, reaching $62.98. 14,540 shares of the company's stock traded hands, compared to its average volume of 71,939. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.99 and a current ratio of 1.02. The stock has a 50 day moving average of $72.84 and a 200-day moving average of $79.18. The company has a market cap of $1.06 billion, a PE ratio of 9.39 and a beta of 0.81. QCR Holdings, Inc. has a 12 month low of $54.37 and a 12 month high of $96.08.

QCR (NASDAQ:QCRH - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.19. QCR had a net margin of 19.06% and a return on equity of 12.68%. As a group, equities analysts expect that QCR Holdings, Inc. will post 6.82 EPS for the current fiscal year.

QCR Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Wednesday, March 19th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.38%. The ex-dividend date was Wednesday, March 19th. QCR's dividend payout ratio is currently 3.58%.

Analyst Ratings Changes

Separately, Raymond James lowered their price objective on shares of QCR from $95.00 to $82.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd.

QCR Company Profile

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.