Renaissance Technologies LLC cut its holdings in shares of QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 4.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 316,372 shares of the bank's stock after selling 13,100 shares during the period. Renaissance Technologies LLC owned approximately 1.88% of QCR worth $25,512,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new stake in shares of QCR in the fourth quarter valued at about $3,979,000. Assenagon Asset Management S.A. bought a new stake in QCR in the 4th quarter worth about $3,755,000. JPMorgan Chase & Co. increased its stake in QCR by 10.3% in 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 during the last quarter. American Century Companies Inc. lifted its position in shares of QCR by 10.5% during the 4th 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 in the last quarter. Finally, Schroder Investment Management Group boosted its stake in shares of QCR by 29.0% in the 4th quarter. Schroder Investment Management Group now owns 150,525 shares of the bank's stock worth $12,141,000 after buying an additional 33,806 shares during the last quarter. Institutional investors and hedge funds own 70.01% of the company's stock.
Insider Buying and Selling
In related news, EVP Nicole A. Lee acquired 1,094 shares of the firm's stock in a transaction that occurred on Wednesday, January 29th. The shares were bought at an average cost of $78.47 per share, for a total transaction of $85,846.18. Following the purchase, the executive vice president now owns 1,881 shares in the company, valued at $147,602.07. This trade represents a 139.01 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James D. Klein sold 630 shares of the firm's stock in a transaction dated 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 transaction, the insider now owns 428 shares of the company's stock, valued at approximately $31,415.20. This represents 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.
Wall Street Analyst Weigh In
Separately, Raymond James dropped their price target on QCR from $95.00 to $82.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd.
Read Our Latest Analysis on QCR
QCR Stock Performance
NASDAQ QCRH traded up $1.03 during trading hours on Friday, reaching $66.93. 97,848 shares of the company were exchanged, compared to its average volume of 72,766. The stock has a market capitalization of $1.13 billion, a P/E ratio of 9.97 and a beta of 0.81. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.67. QCR Holdings, Inc. has a 1 year low of $54.75 and a 1 year high of $96.08. The business's 50 day simple moving average is $71.84 and its 200-day simple moving average is $78.89.
QCR (NASDAQ:QCRH - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.93 earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts expect that QCR Holdings, Inc. will post 6.82 earnings per share for the current year.
QCR Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Wednesday, March 19th were paid a dividend of $0.06 per share. The ex-dividend date was Wednesday, March 19th. This represents a $0.24 annualized dividend and a dividend yield of 0.36%. QCR's payout ratio is 3.58%.
About QCR
(
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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