Ameriprise Financial Inc. Lowers Stock Holdings in QCR Holdings, Inc. (NASDAQ:QCRH)

Ameriprise Financial Inc. lessened its position in QCR Holdings, Inc. (NASDAQ:QCRH) by 15.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 55,145 shares of the bank’s stock after selling 10,420 shares during the period. Ameriprise Financial Inc. owned about 0.33% of QCR worth $4,447,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Farther Finance Advisors LLC bought a new position in QCR in the fourth quarter valued at about $35,000. R Squared Ltd purchased a new stake in QCR in the 4th quarter worth $64,000. LPL Financial LLC bought a new stake in QCR in the 4th quarter worth approximately $263,000. Aquatic Capital Management LLC grew its stake 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 in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in QCR during the fourth quarter worth approximately $307,000. Hedge funds and other institutional investors own 70.01% of the company’s stock.

QCR Stock Down 0.8%

QCRH stock opened at $67.67 on Monday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.02 and a quick ratio of 0.99. The firm’s fifty day simple moving average is $68.00 and its 200-day simple moving average is $76.83. QCR Holdings, Inc. has a 12 month low of $54.75 and a 12 month high of $96.08. The company has a market capitalization of $1.15 billion, a P/E ratio of 10.08 and a beta of 0.80.

QCR (NASDAQ:QCRH) last issued its quarterly earnings data on Tuesday, April 22nd. The bank reported $1.53 EPS for the quarter, topping 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 business had revenue of $76.88 million for the quarter, compared to analysts’ expectations of $94.01 million. During the same quarter last year, the company earned $1.59 EPS. As a group, equities research analysts forecast that QCR Holdings, Inc. will post 6.82 earnings per share for the current year.

Insider Activity

In other QCR news, insider James D. Klein sold 630 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $73.40, for a total value of $46,242.00. Following the transaction, the insider now directly owns 428 shares in the company, valued at $31,415.20. The trade was a 59.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Larry J. Helling bought 1,000 shares of the business’s stock in a transaction on Monday, April 28th. The shares were acquired at an average cost of $64.53 per share, with a total value of $64,530.00. Following the purchase, the chief executive officer now owns 40,264 shares of the company’s stock, valued at $2,598,235.92. The trade was a 2.55% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

QCRH has been the subject of a number of recent analyst reports. Raymond James set a $78.00 price target on shares of QCR and gave the company an “outperform” rating in a report on Thursday, April 24th. Wall Street Zen cut shares of QCR from a “hold” rating to a “sell” rating in a research report on Thursday. Keefe, Bruyette & Woods decreased their price target on shares of QCR from $99.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Finally, Piper Sandler reduced their target price on QCR from $98.00 to $88.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th.

QCR 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.