Teacher Retirement System of Texas Decreases Stake in QCR Holdings, Inc. (NASDAQ:QCRH)

Teacher Retirement System of Texas cut its stake in shares of QCR Holdings, Inc. (NASDAQ:QCRH) by 33.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,334 shares of the bank’s stock after selling 5,200 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.06% of QCR worth $737,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in QCRH. Farther Finance Advisors LLC purchased a new stake in shares of QCR in the 4th quarter valued at approximately $35,000. Lazard Asset Management LLC grew its stake in shares of QCR by 3,042.1% during the fourth quarter. Lazard Asset Management LLC now owns 597 shares of the bank’s stock worth $48,000 after purchasing an additional 578 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in QCR in the fourth quarter valued at $237,000. LPL Financial LLC acquired a new stake in QCR in the fourth quarter valued at $263,000. Finally, Virtus Investment Advisers Inc. purchased a new stake in QCR during the 4th quarter worth about $282,000. 70.01% of the stock is currently owned by hedge funds and other institutional investors.

QCR Stock Down 2.4%

Shares of NASDAQ QCRH opened at $72.20 on Wednesday. The business has a 50-day moving average price of $68.52 and a 200 day moving average price of $71.71. The stock has a market cap of $1.22 billion, a PE ratio of 10.86 and a beta of 0.80. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.42. QCR Holdings, Inc. has a 52-week low of $60.83 and a 52-week high of $96.08.

QCR (NASDAQ:QCRH) last announced its earnings results on Tuesday, April 22nd. The bank reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.01. QCR had a net margin of 19.17% and a return on equity of 12.03%. The business had revenue of $76.88 million for the quarter, compared to analyst estimates of $94.01 million. During the same period last year, the firm posted $1.59 earnings per share. Equities research analysts forecast that QCR Holdings, Inc. will post 6.82 earnings per share for the current year.

QCR Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 18th were paid a dividend of $0.06 per share. The ex-dividend date was Wednesday, June 18th. This represents a $0.24 annualized dividend and a dividend yield of 0.33%. QCR’s dividend payout ratio (DPR) is 3.61%.

Insider Activity

In related news, CEO Larry J. Helling acquired 1,000 shares of QCR stock in a transaction on Monday, April 28th. The stock was purchased at an average cost of $64.53 per share, with a total value of $64,530.00. Following the purchase, the chief executive officer directly owned 40,264 shares in the company, valued at approximately $2,598,235.92. The trade was a 2.55% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on QCRH. Keefe, Bruyette & Woods dropped their price objective on QCR from $99.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Wall Street Zen lowered shares of QCR from a “hold” rating to a “sell” rating in a research note on Saturday, June 28th. Raymond James Financial set a $78.00 price objective on shares of QCR and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Finally, Piper Sandler lowered their target price on shares of QCR from $98.00 to $88.00 and set an “overweight” rating for the company in a 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.