Raymond James Financial Inc. Raises Position in QCR Holdings, Inc. $QCRH

Raymond James Financial Inc. grew its holdings in shares of QCR Holdings, Inc. (NASDAQ:QCRH) by 24.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 61,603 shares of the bank’s stock after purchasing an additional 12,256 shares during the quarter. Raymond James Financial Inc. owned approximately 0.36% of QCR worth $4,394,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Deutsche Bank AG lifted its position in QCR by 49.1% during the fourth quarter. Deutsche Bank AG now owns 13,831 shares of the bank’s stock worth $1,115,000 after buying an additional 4,553 shares during the period. Vanguard Group Inc. lifted its holdings in shares of QCR by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 952,780 shares of the bank’s stock worth $67,952,000 after acquiring an additional 7,002 shares during the period. Larson Financial Group LLC purchased a new position in shares of QCR during the 1st quarter worth about $363,000. Lazard Asset Management LLC lifted its holdings in shares of QCR by 3,042.1% during the 4th quarter. Lazard Asset Management LLC now owns 597 shares of the bank’s stock worth $48,000 after acquiring an additional 578 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of QCR by 3.6% during the 1st quarter. Principal Financial Group Inc. now owns 9,269 shares of the bank’s stock worth $661,000 after acquiring an additional 323 shares during the period. Hedge funds and other institutional investors own 70.01% of the company’s stock.

QCR Stock Performance

Shares of NASDAQ:QCRH opened at $78.35 on Friday. The business’s 50-day simple moving average is $74.37 and its 200 day simple moving average is $70.77. QCR Holdings, Inc. has a one year low of $60.83 and a one year high of $96.08. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $1.33 billion, a P/E ratio of 11.80 and a beta of 0.87.

QCR (NASDAQ:QCRH) last released its quarterly earnings results on Wednesday, July 23rd. The bank reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.10. QCR had a net margin of 19.43% and a return on equity of 11.71%. The firm had revenue of $84.20 million for the quarter, compared to the consensus estimate of $95.11 million. On average, sell-side analysts forecast that QCR Holdings, Inc. will post 6.82 earnings per share for the current fiscal year.

QCR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Thursday, September 18th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Thursday, September 18th. QCR’s payout ratio is presently 3.61%.

Insider Activity

In other news, CEO Laura L. Ekizian sold 333 shares of QCR stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $80.00, for a total transaction of $26,640.00. Following the sale, the chief executive officer directly owned 5,632 shares of the company’s stock, valued at approximately $450,560. The trade was a 5.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on QCRH. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $92.00 price target (up previously from $90.00) on shares of QCR in a research note on Friday, July 25th. Wall Street Zen raised QCR from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. DA Davidson increased their target price on QCR from $80.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Finally, Piper Sandler increased their target price on QCR from $88.00 to $92.50 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, QCR presently has an average rating of “Buy” and an average price target of $87.38.

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.