Wellington Management Group LLP Increases Position in QCR Holdings, Inc. $QCRH

Wellington Management Group LLP raised its holdings in QCR Holdings, Inc. (NASDAQ:QCRH) by 18.4% in the second quarter, Holdings Channel reports. The fund owned 284,295 shares of the bank’s stock after buying an additional 44,106 shares during the period. Wellington Management Group LLP’s holdings in QCR were worth $27,676,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Assetmark Inc. boosted its holdings in shares of QCR by 50.0% during the 1st quarter. Assetmark Inc. now owns 675 shares of the bank’s stock worth $58,000 after purchasing an additional 225 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new stake in shares of QCR in the fourth quarter valued at approximately $61,000. Blue Trust Inc. acquired a new stake in shares of QCR in the first quarter valued at approximately $71,000. Quadrant Capital Group LLC purchased a new position in QCR during the third quarter worth approximately $72,000. Finally, Geneos Wealth Management Inc. purchased a new position in QCR during the first quarter worth approximately $102,000. 70.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. DA Davidson boosted their price objective on QCR from $97.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Piper Sandler reiterated an “overweight” rating and set a $123.00 price target (up from $107.00) on shares of QCR in a report on Monday, July 27th. Weiss Ratings reissued a “buy (b)” rating on shares of QCR in a research report on Monday, July 6th. Finally, Keefe, Bruyette & Woods upped their price objective 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 research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $108.75.

QCR Stock Performance

NASDAQ QCRH opened at $102.69 on Friday. The stock has a market cap of $1.68 billion, a PE ratio of 12.14 and a beta of 0.73. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.57. QCR Holdings, Inc. has a twelve month low of $66.65 and a twelve month high of $108.11. The stock has a fifty day simple moving average of $100.55 and a 200-day simple moving average of $93.49.

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

QCR Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Friday, September 18th will be given a dividend of $0.15 per share. This is a boost 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 is Friday, September 18th. QCR’s dividend payout ratio (DPR) is 4.73%.

Insider Buying and Selling at QCR

In other news, CEO Laura Ekizian sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $94.96, for a total value of $71,220.00. Following the sale, the chief executive officer directly owned 6,093 shares of the company’s stock, valued at approximately $578,591.28. The trade was a 10.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.20% of the stock is currently owned by corporate insiders.

QCR Company 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.