Daytona Street Capital LLC Invests $897,000 in QCR Holdings, Inc. $QCRH

Daytona Street Capital LLC bought a new position in QCR Holdings, Inc. (NASDAQ:QCRH) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 10,770 shares of the bank’s stock, valued at approximately $897,000. Daytona Street Capital LLC owned about 0.06% of QCR as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in QCRH. Kennedy Capital Management LLC boosted its holdings in QCR by 108.2% in the third quarter. Kennedy Capital Management LLC now owns 694,551 shares of the bank’s stock valued at $52,536,000 after acquiring an additional 360,884 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in QCR by 715.4% in the third quarter. Victory Capital Management Inc. now owns 400,229 shares of the bank’s stock valued at $30,273,000 after acquiring an additional 351,145 shares in the last quarter. Schroder Investment Management Group boosted its holdings in QCR by 86.2% in the third quarter. Schroder Investment Management Group now owns 350,963 shares of the bank’s stock valued at $26,663,000 after acquiring an additional 162,482 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in QCR in the third quarter valued at $9,825,000. Finally, Millennium Management LLC boosted its holdings in QCR by 124.5% in the first quarter. Millennium Management LLC now owns 98,583 shares of the bank’s stock valued at $7,031,000 after acquiring an additional 54,678 shares in the last quarter. Institutional investors own 70.01% of the company’s stock.

QCR Trading Up 0.3%

Shares of NASDAQ QCRH opened at $87.52 on Tuesday. QCR Holdings, Inc. has a 1 year low of $60.83 and a 1 year high of $96.00. The stock has a market cap of $1.46 billion, a P/E ratio of 11.65 and a beta of 0.78. The firm has a 50-day moving average of $87.73 and a 200 day moving average of $82.71. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.00 and a quick ratio of 1.00.

QCR (NASDAQ:QCRH) last issued its quarterly earnings results on Tuesday, January 27th. The bank reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.25. QCR had a net margin of 21.07% and a return on equity of 12.13%. The company had revenue of $107.02 million during the quarter, compared to analysts’ expectations of $106.87 million. As a group, sell-side analysts expect that QCR Holdings, Inc. will post 6.82 EPS for the current fiscal year.

QCR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 3rd. Investors of record on Thursday, March 19th were given a dividend of $0.10 per share. This is an increase from QCR’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Thursday, March 19th. This represents a $0.40 dividend on an annualized basis and a yield of 0.5%. QCR’s dividend payout ratio is 5.33%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Raymond James Financial reiterated an “outperform” rating and issued a $103.00 price target on shares of QCR in a report on Friday, January 30th. Zacks Research cut shares of QCR from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Piper Sandler reiterated an “overweight” rating and issued a $108.00 price target (up from $105.00) on shares of QCR in a report on Friday, January 30th. DA Davidson lifted their price target on shares of QCR from $92.00 to $96.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of QCR from $92.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $102.25.

Insider Transactions at QCR

In other news, insider James D. Klein sold 554 shares of QCR stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $82.50, for a total value of $45,705.00. Following the completion of the transaction, the insider owned 738 shares of the company’s stock, valued at $60,885. The trade was a 42.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Todd A. Gipple sold 8,590 shares of QCR stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $89.92, for a total value of $772,412.80. Following the completion of the transaction, the chief financial officer directly owned 44,902 shares of the company’s stock, valued at approximately $4,037,587.84. This represents a 16.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.70% of the company’s stock.

QCR Profile

QCR Holdings, Inc, headquartered in Moline, Illinois, is a bank holding company that delivers community banking services through its wholly owned subsidiary, QCR Bank. The company focuses on serving individuals, small to medium-sized businesses and municipal clients in select Midwestern markets.

QCR Bank offers a broad array of deposit and lending products, including personal and business checking and savings accounts, commercial real estate loans, equipment financing, mortgage lending and treasury management solutions.