Raymond James Financial Inc. Takes Position in QCR Holdings, Inc. (NASDAQ:QCRH)

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.

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

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.