Maltese Capital Management LLC lowered its stake in shares of QCR Holdings, Inc. (NASDAQ:QCRH – Free Report) by 17.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 130,300 shares of the bank’s stock after selling 26,600 shares during the period. QCR accounts for 1.9% of Maltese Capital Management LLC’s investment portfolio, making the stock its 12th largest position. Maltese Capital Management LLC owned 0.77% of QCR worth $10,854,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of the stock. Farther Finance Advisors LLC increased its stake in QCR by 34.6% during the fourth quarter. Farther Finance Advisors LLC now owns 576 shares of the bank’s stock worth $48,000 after acquiring an additional 148 shares during the last quarter. Legal & General Group Plc increased its position in shares of QCR by 1.0% during the second quarter. Legal & General Group Plc now owns 17,366 shares of the bank’s stock valued at $1,179,000 after acquiring an additional 165 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in shares of QCR by 0.7% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 28,395 shares of the bank’s stock worth $2,365,000 after acquiring an additional 185 shares during the last quarter. LPL Financial LLC boosted its position in shares of QCR by 3.8% during the 4th quarter. LPL Financial LLC now owns 5,208 shares of the bank’s stock worth $434,000 after purchasing an additional 191 shares during the period. Finally, ProShare Advisors LLC boosted its position in shares of QCR by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 3,023 shares of the bank’s stock worth $252,000 after purchasing an additional 195 shares during the period. Hedge funds and other institutional investors own 70.01% of the company’s stock.
QCR Stock Down 1.7%
Shares of NASDAQ:QCRH opened at $94.71 on Tuesday. QCR Holdings, Inc. has a fifty-two week low of $63.68 and a fifty-two week high of $97.25. The company has a quick ratio of 0.89, a current ratio of 0.96 and a debt-to-equity ratio of 0.37. The firm’s 50-day simple moving average is $91.10 and its 200-day simple moving average is $88.12. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 11.87 and a beta of 0.76.
QCR Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 3rd. Stockholders of record on Thursday, June 18th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Thursday, June 18th. QCR’s dividend payout ratio (DPR) is currently 5.01%.
Insider Buying and Selling
In related news, insider James D. Klein sold 310 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $91.00, for a total transaction of $28,210.00. Following the transaction, the insider owned 428 shares of the company’s stock, valued at $38,948. This represents a 42.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Laura L. Ekizian sold 750 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer directly owned 6,093 shares of the company’s stock, valued at approximately $578,591.28. This trade represents a 10.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.20% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of research firms have commented on QCRH. Raymond James Financial restated an “outperform” rating and set a $99.00 price target on shares of QCR in a research note on Monday, April 27th. Piper Sandler reduced their price target on QCR from $108.00 to $107.00 and set an “overweight” rating on the stock in a research report on Monday, April 27th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, QCR has an average rating of “Moderate Buy” and an average price target of $101.00.
Read Our Latest Stock Analysis on QCRH
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.
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