Northern Trust Corp Purchases 6,191 Shares of QCR Holdings, Inc. (NASDAQ:QCRH)

Northern Trust Corp raised its stake in QCR Holdings, Inc. (NASDAQ:QCRH) by 4.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 153,658 shares of the bank’s stock after buying an additional 6,191 shares during the period. Northern Trust Corp owned about 0.91% of QCR worth $12,391,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC bought a new position in shares of QCR in the 4th quarter worth $35,000. R Squared Ltd bought a new position in shares of QCR in the 4th quarter worth $64,000. LPL Financial LLC bought a new position in shares of QCR in the 4th quarter worth $263,000. Aquatic Capital Management LLC increased its holdings in shares of QCR by 109.9% in the 4th quarter. Aquatic Capital Management LLC now owns 3,569 shares of the bank’s stock worth $288,000 after buying an additional 1,869 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of QCR in the 4th quarter worth $307,000. Institutional investors own 70.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on QCRH. Piper Sandler decreased their price target on shares of QCR from $98.00 to $88.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Raymond James set a $78.00 price objective on shares of QCR and gave the company an “outperform” rating in a research note on Thursday, April 24th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of QCR from $99.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th.

QCR Price Performance

Shares of QCR stock opened at $70.71 on Friday. QCR Holdings, Inc. has a 52-week low of $54.75 and a 52-week high of $96.08. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 10.54 and a beta of 0.80. The company has a fifty day moving average of $68.44 and a 200-day moving average of $77.45. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.99 and a current ratio of 1.02.

QCR (NASDAQ:QCRH) last announced its quarterly earnings data on Tuesday, April 22nd. The bank reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.01. QCR had a net margin of 19.06% and a return on equity of 12.68%. The company had revenue of $76.88 million during the quarter, compared to analysts’ expectations of $94.01 million. During the same quarter in the prior year, the company earned $1.59 EPS. Equities research analysts expect that QCR Holdings, Inc. will post 6.82 EPS for the current year.

QCR Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders 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 annualized dividend and a yield of 0.34%. QCR’s payout ratio is currently 3.61%.

Insider Buying and Selling at QCR

In other news, CEO Larry J. Helling purchased 1,000 shares of the company’s stock in a transaction on Monday, April 28th. The stock was acquired at an average price 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 of the company’s stock, valued at approximately $2,598,235.92. This represents a 2.55% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James D. Klein sold 630 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $73.40, for a total transaction of $46,242.00. Following the sale, the insider now directly owns 428 shares of the company’s stock, 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 corporate insiders.

About QCR

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.