California State Teachers Retirement System lessened its stake in shares of QCR Holdings, Inc. (NASDAQ:QCRH – Free Report) by 1.4% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 19,976 shares of the bank’s stock after selling 290 shares during the period. California State Teachers Retirement System owned 0.12% of QCR worth $877,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in QCRH. New York Life Investment Management LLC boosted its stake in QCR by 5.7% during the first quarter. New York Life Investment Management LLC now owns 10,597 shares of the bank’s stock valued at $465,000 after buying an additional 571 shares during the last quarter. Barclays PLC boosted its stake in QCR by 105.2% during the first quarter. Barclays PLC now owns 14,423 shares of the bank’s stock valued at $634,000 after buying an additional 7,394 shares during the last quarter. LSV Asset Management boosted its stake in QCR by 145.4% during the first quarter. LSV Asset Management now owns 133,600 shares of the bank’s stock valued at $5,866,000 after buying an additional 79,163 shares during the last quarter. CM Wealth Advisors LLC purchased a new stake in QCR during the first quarter valued at approximately $473,000. Finally, Knights of Columbus Asset Advisors LLC raised its position in QCR by 0.8% during the first quarter. Knights of Columbus Asset Advisors LLC now owns 56,012 shares of the bank’s stock valued at $2,459,000 after purchasing an additional 428 shares during the period. Institutional investors own 67.10% of the company’s stock.
Insider Buying and Selling
In other QCR news, CEO Larry J. Helling purchased 1,000 shares of QCR stock in a transaction that occurred on Wednesday, August 23rd. The stock was bought at an average price of $51.00 per share, with a total value of $51,000.00. Following the acquisition, the chief executive officer now owns 29,643 shares of the company’s stock, valued at approximately $1,511,793. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.50% of the stock is currently owned by insiders.
QCR Trading Up 2.2 %
QCR (NASDAQ:QCRH – Get Free Report) last posted its quarterly earnings results on Wednesday, July 26th. The bank reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.34. The business had revenue of $85.73 million for the quarter, compared to the consensus estimate of $78.40 million. QCR had a return on equity of 14.86% and a net margin of 24.82%. As a group, equities research analysts predict that QCR Holdings, Inc. will post 6.02 earnings per share for the current fiscal year.
QCR Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Friday, September 15th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.24 dividend on an annualized basis and a yield of 0.45%. QCR’s payout ratio is 3.52%.
Analyst Upgrades and Downgrades
QCRH has been the subject of a number of research analyst reports. Piper Sandler raised their price target on QCR from $48.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, July 31st. Raymond James lifted their target price on QCR from $53.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, July 31st. Finally, StockNews.com assumed coverage on QCR in a research report on Thursday, August 17th. They set a “hold” rating for the company.
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.
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