Royal Bank of Canada Has $10.31 Million Stake in QCR Holdings, Inc. $QCRH

Royal Bank of Canada increased its position in shares of QCR Holdings, Inc. (NASDAQ:QCRH) by 22.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 144,589 shares of the bank’s stock after purchasing an additional 26,567 shares during the period. Royal Bank of Canada owned approximately 0.85% of QCR worth $10,312,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. New Age Alpha Advisors LLC acquired a new stake in QCR during the 1st quarter worth approximately $46,000. Lazard Asset Management LLC lifted its holdings in 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 purchasing an additional 578 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in QCR during the 1st quarter worth approximately $210,000. R Squared Ltd lifted its holdings in QCR by 309.3% during the 1st quarter. R Squared Ltd now owns 3,250 shares of the bank’s stock worth $232,000 after purchasing an additional 2,456 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in QCR during the 4th quarter worth approximately $237,000. 70.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Laura L. Ekizian sold 1,000 shares of QCR stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $80.00, for a total value of $80,000.00. Following the transaction, the chief executive officer owned 5,965 shares in the company, valued at approximately $477,200. This trade represents a 14.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.70% of the company’s stock.

QCR Price Performance

Shares of NASDAQ QCRH opened at $78.12 on Friday. The stock has a market capitalization of $1.32 billion, a PE ratio of 11.77 and a beta of 0.87. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.98. The business has a fifty day moving average price of $74.95 and a two-hundred day moving average price of $70.81. 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 announced its quarterly earnings data on Wednesday, July 23rd. The bank reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.10. The firm had revenue of $84.20 million during the quarter, compared to analysts’ expectations of $95.11 million. QCR had a return on equity of 11.71% and a net margin of 19.43%. As a group, equities analysts predict that QCR Holdings, Inc. will post 6.82 earnings per share for the current fiscal year.

QCR Dividend Announcement

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

Analyst Ratings Changes

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

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.