Wedge Capital Management L L P NC Decreases Stake in QCR Holdings, Inc. (NASDAQ:QCRH)

Wedge Capital Management L L P NC lowered its position in QCR Holdings, Inc. (NASDAQ:QCRH) by 1.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 60,672 shares of the bank’s stock after selling 897 shares during the period. Wedge Capital Management L L P NC owned 0.36% of QCR worth $3,543,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in QCR by 83.9% in the 3rd quarter. FMR LLC now owns 1,502,724 shares of the bank’s stock valued at $72,912,000 after purchasing an additional 685,471 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in QCR in the 3rd quarter valued at $488,000. Brandywine Global Investment Management LLC lifted its holdings in QCR by 53.1% in the 3rd quarter. Brandywine Global Investment Management LLC now owns 50,729 shares of the bank’s stock valued at $2,461,000 after purchasing an additional 17,590 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of QCR during the 4th quarter worth $1,734,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of QCR by 2.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 89,525 shares of the bank’s stock worth $4,344,000 after acquiring an additional 1,715 shares during the period. Hedge funds and other institutional investors own 70.01% of the company’s stock.

Insider Buying and Selling

In other QCR news, CEO Larry J. Helling acquired 1,000 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was purchased at an average cost of $56.00 per share, with a total value of $56,000.00. Following the transaction, the chief executive officer now owns 36,601 shares of the company’s stock, valued at $2,049,656. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Larry J. Helling bought 1,000 shares of the company’s stock in a transaction on Monday, February 5th. The stock was bought at an average cost of $56.00 per share, with a total value of $56,000.00. Following the transaction, the chief executive officer now directly owns 36,601 shares in the company, valued at approximately $2,049,656. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Todd A. Gipple sold 6,791 shares of QCR stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $61.00, for a total value of $414,251.00. Following the completion of the transaction, the chief financial officer now directly owns 40,043 shares of the company’s stock, valued at $2,442,623. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on QCRH shares. Keefe, Bruyette & Woods lifted their price target on QCR from $69.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Piper Sandler lifted their price target on QCR from $67.00 to $74.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. Finally, Raymond James lifted their price target on QCR from $60.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, January 29th.

QCR Stock Up 0.4 %

Shares of NASDAQ:QCRH opened at $58.57 on Thursday. The business has a 50-day moving average price of $57.21 and a 200 day moving average price of $55.11. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $983.98 million, a price-to-earnings ratio of 8.73 and a beta of 0.95. QCR Holdings, Inc. has a 12-month low of $35.14 and a 12-month high of $62.94.

QCR (NASDAQ:QCRH) last issued its quarterly earnings data on Tuesday, April 23rd. The bank reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.27. The firm had revenue of $141.91 million during the quarter, compared to the consensus estimate of $82.83 million. QCR had a return on equity of 13.47% and a net margin of 19.92%. During the same period last year, the company earned $1.65 EPS. Sell-side analysts expect that QCR Holdings, Inc. will post 5.64 EPS for the current year.

QCR Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Friday, March 15th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Thursday, March 14th. QCR’s payout ratio is 3.58%.

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.