Raymond James Financial Inc. bought a new position in QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 49,347 shares of the bank's stock, valued at approximately $3,979,000. Raymond James Financial Inc. owned 0.29% of QCR as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the business. Farther Finance Advisors LLC purchased a new position in shares of QCR in the fourth quarter worth about $35,000. R Squared Ltd bought a new position in shares of QCR during the fourth quarter valued at about $64,000. LPL Financial LLC purchased a new stake in shares of QCR during the fourth quarter worth about $263,000. KLP Kapitalforvaltning AS bought a new stake in shares of QCR in the fourth quarter worth about $307,000. Finally, Janney Montgomery Scott LLC increased its holdings in QCR by 2.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 5,016 shares of the bank's stock valued at $404,000 after purchasing an additional 142 shares during the period. 70.01% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on QCRH shares. Raymond James set a $78.00 price objective on QCR and gave the stock an "outperform" rating in a report on Thursday, April 24th. Piper Sandler dropped their price target on QCR from $98.00 to $88.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of QCR from $99.00 to $90.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th.
Read Our Latest Analysis on QCR
Insider Buying and Selling
In related news, CEO Larry J. Helling purchased 1,000 shares of the company's stock in a transaction dated Monday, April 28th. The shares were purchased at an average cost of $64.53 per share, with a total value of $64,530.00. Following the transaction, the chief executive officer now directly owns 40,264 shares in the company, valued at $2,598,235.92. This trade represents a 2.55 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James D. Klein sold 630 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $73.40, for a total value of $46,242.00. Following the completion of the sale, the insider now owns 428 shares in the company, valued at $31,415.20. The trade was a 59.55 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by insiders.
QCR Stock Up 2.2 %
QCR stock traded up $1.46 during trading hours on Friday, hitting $66.59. 30,239 shares of the stock traded hands, compared to its average volume of 74,182. QCR Holdings, Inc. has a one year low of $54.75 and a one year high of $96.08. The company has a market cap of $1.13 billion, a PE ratio of 9.96 and a beta of 0.81. The firm's 50-day moving average price is $69.57 and its two-hundred day moving average price is $78.26. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.67.
QCR (NASDAQ:QCRH - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The bank reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.01. The company had revenue of $76.88 million for the quarter, compared to analysts' expectations of $94.01 million. QCR had a return on equity of 12.68% and a net margin of 19.06%. During the same period in the prior year, the firm earned $1.59 earnings per share. On average, research analysts forecast that QCR Holdings, Inc. will post 6.82 EPS for the current year.
QCR Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Wednesday, March 19th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $0.24 dividend on an annualized basis and a yield of 0.36%. QCR's dividend payout ratio (DPR) is currently 3.61%.
QCR Company Profile
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Free Report)
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.
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