Globeflex Capital L P Takes $1.77 Million Position in QCR Holdings, Inc. $QCRH

Globeflex Capital L P acquired a new position in QCR Holdings, Inc. (NASDAQ:QCRH) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 18,154 shares of the bank’s stock, valued at approximately $1,767,000.

A number of other hedge funds also recently bought and sold shares of QCRH. Assetmark Inc. bought a new stake in QCR during the fourth quarter valued at about $37,000. Farther Finance Advisors LLC lifted its holdings in shares of QCR by 34.6% during the 4th quarter. Farther Finance Advisors LLC now owns 576 shares of the bank’s stock valued at $48,000 after purchasing an additional 148 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new stake in QCR in the fourth quarter worth about $61,000. Blue Trust Inc. purchased a new stake in QCR during the 1st quarter worth approximately $71,000. Finally, Quadrant Capital Group LLC purchased a new stake in QCR during the 3rd quarter worth approximately $72,000. Hedge funds and other institutional investors own 70.01% of the company’s stock.

Insider Activity at QCR

In related news, CEO Laura L. Ekizian sold 750 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $94.96, for a total transaction of $71,220.00. Following the completion of the transaction, the chief executive officer owned 6,093 shares in the company, valued at $578,591.28. This represents a 10.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on QCRH. Raymond James Financial reaffirmed an “outperform” rating and issued a $99.00 price target on shares of QCR in a report on Monday, April 27th. Weiss Ratings restated a “buy (b)” rating on shares of QCR in a research note on Monday, July 6th. DA Davidson lifted their price objective on shares of QCR from $97.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Piper Sandler restated an “overweight” rating and issued a $123.00 target price (up from $107.00) on shares of QCR in a research note on Monday, July 27th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of QCR from $105.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $108.75.

QCR Price Performance

Shares of QCR stock opened at $100.90 on Tuesday. The firm has a market cap of $1.65 billion, a PE ratio of 11.93 and a beta of 0.74. QCR Holdings, Inc. has a twelve month low of $66.65 and a twelve month high of $108.11. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.57. The business has a 50-day moving average price of $99.63 and a 200 day moving average price of $92.99.

QCR (NASDAQ:QCRH) last issued its quarterly earnings results on Wednesday, July 22nd. The bank reported $2.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.28. The company had revenue of $97.34 million for the quarter, compared to the consensus estimate of $104.10 million. QCR had a return on equity of 12.87% and a net margin of 22.86%. Sell-side analysts predict that QCR Holdings, Inc. will post 8.5 earnings per share for the current fiscal year.

QCR Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Friday, September 18th will be paid a dividend of $0.15 per share. This is an increase from QCR’s previous quarterly dividend of $0.10. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, September 18th. QCR’s dividend payout ratio is presently 4.73%.

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.