Principal Financial Group Inc. Grows Stock Holdings in QCR Holdings, Inc. (NASDAQ:QCRH)

Principal Financial Group Inc. raised its stake in QCR Holdings, Inc. (NASDAQ:QCRH) by 3.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,269 shares of the bank’s stock after buying an additional 323 shares during the period. Principal Financial Group Inc. owned about 0.05% of QCR worth $661,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

QCR Stock Performance

QCRH stock opened at $75.14 on Friday. The company has a market capitalization of $1.27 billion, a P/E ratio of 11.30 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. The company has a 50-day simple moving average of $68.99 and a 200 day simple moving average of $71.58. QCR Holdings, Inc. has a fifty-two week low of $60.83 and a fifty-two week high of $96.08.

QCR (NASDAQ:QCRH) last released its earnings results on Tuesday, April 22nd. The bank reported $1.53 EPS for the quarter, beating the consensus estimate of $1.52 by $0.01. The firm had revenue of $76.88 million for the quarter, compared to analysts’ expectations of $94.01 million. QCR had a net margin of 19.17% and a return on equity of 12.03%. During the same quarter last year, the company earned $1.59 EPS. Sell-side analysts predict that QCR Holdings, Inc. will post 6.82 earnings per share for the current fiscal year.

QCR Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 18th were issued a dividend of $0.06 per share. The ex-dividend date was Wednesday, June 18th. This represents a $0.24 annualized dividend and a yield of 0.32%. QCR’s payout ratio is presently 3.61%.

Insider Transactions at QCR

In related news, CEO Larry J. Helling purchased 1,000 shares of QCR stock in a transaction dated Monday, April 28th. The stock was acquired at an average cost of $64.53 per share, with a total value of $64,530.00. Following the completion of the transaction, the chief executive officer directly owned 40,264 shares of the company’s stock, valued at $2,598,235.92. This trade represents a 2.55% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on QCRH shares. Piper Sandler reduced their price objective on shares of QCR from $98.00 to $88.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Raymond James Financial set a $78.00 price objective on QCR and gave the stock 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 note on Saturday, June 28th. Finally, Keefe, Bruyette & Woods decreased 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.

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.