Knights of Columbus Asset Advisors LLC Sells 540 Shares of QCR Holdings, Inc. $QCRH

Knights of Columbus Asset Advisors LLC reduced its holdings in shares of QCR Holdings, Inc. (NASDAQ:QCRH) by 2.2% during the second quarter, Holdings Channel reports. The fund owned 23,982 shares of the bank’s stock after selling 540 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in QCR were worth $1,628,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. grew its position in QCR by 24.8% during the first quarter. Raymond James Financial Inc. now owns 61,603 shares of the bank’s stock valued at $4,394,000 after acquiring an additional 12,256 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of QCR by 0.7% during the first quarter. Vanguard Group Inc. now owns 952,780 shares of the bank’s stock valued at $67,952,000 after purchasing an additional 7,002 shares during the period. Royal Bank of Canada boosted its stake in shares of QCR by 22.5% during the first quarter. Royal Bank of Canada now owns 144,589 shares of the bank’s stock valued at $10,312,000 after purchasing an additional 26,567 shares during the period. Strs Ohio purchased a new stake in shares of QCR during the first quarter valued at approximately $642,000. Finally, Larson Financial Group LLC purchased a new stake in shares of QCR during the first quarter valued at approximately $363,000. 70.01% of the stock is currently owned by institutional investors.

QCR Stock Performance

Shares of QCRH stock opened at $76.09 on Tuesday. The stock has a fifty day moving average of $76.05 and a 200 day moving average of $71.23. QCR Holdings, Inc. has a 52 week low of $60.83 and a 52 week high of $96.08. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 11.46 and a beta of 0.83. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.48.

QCR (NASDAQ:QCRH) last announced its quarterly earnings results on Wednesday, July 23rd. The bank reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.10. QCR had a return on equity of 11.71% and a net margin of 19.43%.The company had revenue of $84.20 million during the quarter, compared to analyst estimates of $95.11 million. As a group, research analysts expect that QCR Holdings, Inc. will post 6.82 earnings per share for the current year.

QCR Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Thursday, September 18th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, September 18th. This represents a $0.24 annualized dividend and a yield of 0.3%. QCR’s dividend payout ratio (DPR) is currently 3.61%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Piper Sandler increased their price objective on QCR from $88.00 to $92.50 and gave the company an “overweight” rating in a research note on Monday, July 28th. Wall Street Zen raised QCR from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. DA Davidson increased their price objective on QCR from $80.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $92.00 price objective (up previously from $90.00) on shares of QCR in a research note on Friday, July 25th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of QCR in a research note on Saturday, September 27th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, QCR presently has a consensus rating of “Buy” and an average price target of $87.38.

Insider Buying and Selling

In other QCR news, CEO Laura L. Ekizian sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $80.00, for a total transaction of $80,000.00. Following the completion of the transaction, the chief executive officer owned 5,965 shares of the company’s stock, valued at approximately $477,200. This trade represents a 14.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 3.70% of the company’s stock.

QCR 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.