Wedge Capital Management L L P NC Has $3.54 Million Stock Position 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 Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,672 shares of the bank’s stock after selling 897 shares during the quarter. Wedge Capital Management L L P NC’s holdings in QCR were worth $3,543,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of QCRH. Global Retirement Partners LLC purchased a new position in QCR in the third quarter valued at about $50,000. SG Americas Securities LLC purchased a new position in QCR in the third quarter valued at about $146,000. Busey Trust CO purchased a new position in QCR in the third quarter valued at about $218,000. Sippican Capital Advisors purchased a new position in QCR in the third quarter valued at about $484,000. Finally, Bank of New York Mellon Corp grew its stake in QCR by 2.0% in the third quarter. Bank of New York Mellon Corp now owns 89,525 shares of the bank’s stock valued at $4,344,000 after purchasing an additional 1,715 shares in the last quarter. Hedge funds and other institutional investors own 70.01% of the company’s stock.

QCR Stock Performance

QCRH opened at $58.57 on Thursday. The company has a market cap of $983.98 million, a PE ratio of 8.73 and a beta of 0.95. The stock has a 50-day moving average of $57.21 and a 200-day moving average of $55.11. QCR Holdings, Inc. has a 52-week low of $35.14 and a 52-week high of $62.94. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.04 and a current ratio of 1.04.

QCR (NASDAQ:QCRH) last announced its earnings results on Tuesday, April 23rd. The bank reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.27. QCR had a return on equity of 13.47% and a net margin of 19.92%. The firm had revenue of $141.91 million during the quarter, compared to the consensus estimate of $82.83 million. During the same quarter in the prior year, the company earned $1.65 EPS. As a group, equities research analysts forecast that QCR Holdings, Inc. will post 5.64 earnings per share for the current fiscal year.

QCR Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insider Activity at QCR

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

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.