Persistent Asset Partners Ltd Boosts Stock Position in QCR Holdings, Inc. $QCRH

Persistent Asset Partners Ltd grew its position in QCR Holdings, Inc. (NASDAQ:QCRH) by 142.0% during the third quarter, Holdings Channel reports. The firm owned 11,364 shares of the bank’s stock after acquiring an additional 6,669 shares during the period. Persistent Asset Partners Ltd’s holdings in QCR were worth $860,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Kennedy Capital Management LLC lifted its holdings in shares of QCR by 33.6% during the second quarter. Kennedy Capital Management LLC now owns 333,667 shares of the bank’s stock worth $22,656,000 after purchasing an additional 83,977 shares during the period. Millennium Management LLC lifted its stake in QCR by 124.5% during the 1st 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 during the period. Endeavour Capital Advisors Inc. lifted its stake in QCR by 20.5% during the 3rd quarter. Endeavour Capital Advisors Inc. now owns 266,465 shares of the bank’s stock valued at $20,155,000 after acquiring an additional 45,389 shares during the period. Schroder Investment Management Group boosted its holdings in shares of QCR by 25.2% in the 2nd quarter. Schroder Investment Management Group now owns 188,481 shares of the bank’s stock valued at $12,809,000 after acquiring an additional 37,905 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its stake in shares of QCR by 28.4% in the second quarter. Qube Research & Technologies Ltd now owns 155,127 shares of the bank’s stock worth $10,533,000 after acquiring an additional 34,346 shares during the period. 70.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at QCR

In other news, CFO Todd A. Gipple sold 8,590 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $89.92, for a total transaction of $772,412.80. Following the transaction, the chief financial officer directly owned 44,902 shares in the company, valued at $4,037,587.84. The trade was a 16.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on QCRH shares. Raymond James Financial reaffirmed an “outperform” rating and issued a $103.00 price target on shares of QCR in a report on Friday, January 30th. Zacks Research downgraded QCR from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Keefe, Bruyette & Woods raised their target price on QCR from $92.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday, January 29th. Weiss Ratings raised QCR from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 2nd. Finally, Piper Sandler restated an “overweight” rating and issued a $108.00 price objective (up previously from $105.00) on shares of QCR in a research report on Friday, January 30th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $102.25.

QCR Price Performance

QCR stock opened at $91.81 on Friday. The stock has a market capitalization of $1.55 billion, a P/E ratio of 12.23 and a beta of 0.82. The company’s fifty day moving average price is $87.71 and its 200 day moving average price is $80.63. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01. QCR Holdings, Inc. has a 1 year low of $60.83 and a 1 year high of $96.00.

QCR (NASDAQ:QCRH) last announced its earnings results on Tuesday, January 27th. The bank reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.25. The company had revenue of $107.02 million for the quarter, compared to analysts’ expectations of $106.87 million. QCR had a net margin of 21.07% and a return on equity of 12.30%. As a group, equities research analysts anticipate that QCR Holdings, Inc. will post 6.82 earnings per share for the current fiscal year.

QCR Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Shareholders of record on Thursday, March 19th will be paid a $0.10 dividend. This is a positive change from QCR’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, March 19th. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. QCR’s dividend payout ratio is 3.20%.

About QCR

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.