Connor Clark & Lunn Investment Management Ltd. Lowers Stock Holdings in QCR Holdings, Inc. (NASDAQ:QCRH)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in QCR Holdings, Inc. (NASDAQ:QCRH) by 16.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,702 shares of the bank’s stock after selling 3,694 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.11% of QCR worth $1,334,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. LPL Financial LLC purchased a new stake in shares of QCR in the fourth quarter valued at approximately $263,000. Wells Fargo & Company MN boosted its position in shares of QCR by 15.3% during the 4th quarter. Wells Fargo & Company MN now owns 14,967 shares of the bank’s stock worth $1,207,000 after purchasing an additional 1,991 shares in the last quarter. Invesco Ltd. boosted its position in shares of QCR by 9.8% during the 4th quarter. Invesco Ltd. now owns 34,575 shares of the bank’s stock worth $2,788,000 after purchasing an additional 3,083 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of QCR during the 4th quarter worth $3,979,000. Finally, Barclays PLC boosted its position in shares of QCR by 8.3% during the 4th quarter. Barclays PLC now owns 33,374 shares of the bank’s stock worth $2,692,000 after purchasing an additional 2,569 shares in the last quarter. 70.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on QCRH. Keefe, Bruyette & Woods restated an “outperform” rating and set a $92.00 target price (up from $90.00) on shares of QCR in a research report on Friday, July 25th. Wall Street Zen upgraded shares of QCR from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Piper Sandler boosted their target price on shares of QCR from $88.00 to $92.50 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Raymond James Financial set a $78.00 target price on shares of QCR and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Finally, DA Davidson boosted 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. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $87.38.

QCR Stock Down 1.7%

QCRH opened at $74.78 on Friday. The business’s fifty day moving average is $70.81 and its two-hundred day moving average is $70.68. 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 $1.27 billion, a price-to-earnings ratio of 11.26 and a beta of 0.83. QCR Holdings, Inc. has a one year low of $60.83 and a one year high of $96.08.

QCR (NASDAQ:QCRH) last posted its earnings results on Wednesday, July 23rd. The bank reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.10. The company had revenue of $84.20 million for the quarter, compared to the consensus estimate of $95.11 million. QCR had a return on equity of 11.71% and a net margin of 19.43%. Analysts anticipate that QCR Holdings, Inc. will post 6.82 EPS for the current fiscal year.

QCR Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 18th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Wednesday, June 18th. QCR’s payout ratio is 3.61%.

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.