American International Group Inc. lifted its position in QCR Holdings, Inc. (NASDAQ:QCRH – Free Report) by 3.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,940 shares of the bank’s stock after acquiring an additional 300 shares during the quarter. American International Group Inc.’s holdings in QCR were worth $326,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in QCRH. JPMorgan Chase & Co. grew its position in shares of QCR by 22.9% in the 1st quarter. JPMorgan Chase & Co. now owns 111,830 shares of the bank’s stock worth $6,329,000 after acquiring an additional 20,825 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in shares of QCR in the 1st quarter worth approximately $203,000. Bank of New York Mellon Corp grew its position in shares of QCR by 2.2% in the 1st quarter. Bank of New York Mellon Corp now owns 75,991 shares of the bank’s stock worth $4,300,000 after acquiring an additional 1,607 shares in the last quarter. MetLife Investment Management LLC boosted its position in QCR by 33.9% during the 1st quarter. MetLife Investment Management LLC now owns 7,867 shares of the bank’s stock valued at $445,000 after purchasing an additional 1,991 shares during the period. Finally, BlackRock Inc. boosted its position in QCR by 1.7% during the 1st quarter. BlackRock Inc. now owns 1,231,738 shares of the bank’s stock valued at $69,702,000 after purchasing an additional 21,065 shares during the period. Institutional investors and hedge funds own 67.10% of the company’s stock.
Insider Buying and Selling
In related news, CEO Larry J. Helling bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were acquired at an average cost of $48.00 per share, for a total transaction of $48,000.00. Following the acquisition, the chief executive officer now directly owns 31,643 shares of the company’s stock, valued at approximately $1,518,864. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have purchased 3,133 shares of company stock worth $155,517 in the last three months. 3.50% of the stock is currently owned by insiders.
QCR Stock Up 1.0 %
QCR (NASDAQ:QCRH – Get Free Report) last posted its quarterly earnings data on Wednesday, October 25th. The bank reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.15. QCR had a return on equity of 14.00% and a net margin of 22.26%. The company had revenue of $81.85 million for the quarter, compared to the consensus estimate of $77.10 million. As a group, research analysts forecast that QCR Holdings, Inc. will post 6.17 EPS for the current year.
QCR Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Investors of record on Friday, December 15th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Thursday, December 14th. QCR’s payout ratio is 3.64%.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on QCRH. Raymond James boosted their price objective on QCR from $53.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, July 31st. Piper Sandler boosted their price objective on QCR from $48.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, July 31st. Finally, StockNews.com initiated coverage on QCR in a research report on Thursday, October 5th. 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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