Vanguard Group Inc. Sells 14,228 Shares of QCR Holdings, Inc. $QCRH

Vanguard Group Inc. reduced its stake in shares of QCR Holdings, Inc. (NASDAQ:QCRH) by 1.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 953,171 shares of the bank’s stock after selling 14,228 shares during the period. Vanguard Group Inc. owned approximately 0.06% of QCR worth $72,098,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in shares of QCR by 20.7% in the first quarter. AQR Capital Management LLC now owns 38,470 shares of the bank’s stock valued at $2,744,000 after buying an additional 6,607 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of QCR by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,729 shares of the bank’s stock worth $694,000 after acquiring an additional 403 shares in the last quarter. Millennium Management LLC raised its holdings in shares of QCR by 124.5% during the first quarter. Millennium Management LLC now owns 98,583 shares of the bank’s stock worth $7,031,000 after acquiring an additional 54,678 shares during the period. Jane Street Group LLC raised its holdings in shares of QCR by 106.5% during the first quarter. Jane Street Group LLC now owns 30,052 shares of the bank’s stock worth $2,143,000 after acquiring an additional 15,501 shares during the period. Finally, Geode Capital Management LLC lifted its position in QCR by 2.6% in the 2nd quarter. Geode Capital Management LLC now owns 435,133 shares of the bank’s stock valued at $29,549,000 after acquiring an additional 11,033 shares in the last quarter. Institutional investors own 70.01% of the company’s stock.

QCR Stock Performance

Shares of QCRH stock opened at $83.05 on Friday. QCR Holdings, Inc. has a 12 month low of $60.83 and a 12 month high of $96.00. The company’s fifty day simple moving average is $88.24 and its 200-day simple moving average is $81.80. The firm has a market cap of $1.39 billion, a PE ratio of 11.06 and a beta of 0.82. The company has a quick ratio of 1.01, a current ratio of 1.00 and a debt-to-equity ratio of 0.57.

QCR (NASDAQ:QCRH) last released its earnings results on Tuesday, January 27th. The bank reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.25. QCR had a net margin of 21.07% and a return on equity of 12.13%. The business had revenue of $107.02 million during the quarter, compared to the consensus estimate of $106.87 million. Equities research analysts expect that QCR Holdings, Inc. will post 6.82 EPS for the current fiscal year.

QCR Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Thursday, March 19th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Thursday, March 19th. This is a positive change from QCR’s previous quarterly dividend of $0.06. QCR’s dividend payout ratio is 3.20%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on QCRH. Piper Sandler reaffirmed an “overweight” rating and issued a $108.00 target price (up from $105.00) on shares of QCR in a research note 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. Weiss Ratings upgraded QCR from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 2nd. Keefe, Bruyette & Woods upped their price objective on QCR from $92.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, January 29th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $103.00 price objective on shares of QCR in a report on Friday, January 30th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.25.

Insider Activity

In related news, CFO Todd A. Gipple sold 8,590 shares of QCR stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $89.92, for a total value of $772,412.80. Following the sale, the chief financial officer owned 44,902 shares of the company’s stock, valued at approximately $4,037,587.84. The trade was a 16.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.70% of the company’s stock.

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.