Royal Bank of Canada decreased its position in shares of QCR Holdings, Inc. (NASDAQ:QCRH – Free Report) by 53.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,116 shares of the bank’s stock after selling 21,075 shares during the period. Royal Bank of Canada’s holdings in QCR were worth $1,548,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Kestrel Investment Management Corp purchased a new stake in QCR during the fourth quarter worth about $4,636,000. WCM Investment Management LLC boosted its stake in shares of QCR by 16.9% in the first quarter. WCM Investment Management LLC now owns 71,300 shares of the bank’s stock valued at $6,018,000 after purchasing an additional 10,314 shares during the period. Hsbc Holdings PLC purchased a new position in shares of QCR in the fourth quarter valued at approximately $1,245,000. Jackson Creek Investment Advisors LLC grew its holdings in shares of QCR by 40.9% in the fourth quarter. Jackson Creek Investment Advisors LLC now owns 22,864 shares of the bank’s stock valued at $1,905,000 after purchasing an additional 6,633 shares in the last quarter. Finally, Kennedy Capital Management LLC grew its holdings in shares of QCR by 9.7% in the fourth quarter. Kennedy Capital Management LLC now owns 762,068 shares of the bank’s stock valued at $63,480,000 after purchasing an additional 67,517 shares in the last quarter. 70.01% of the stock is currently owned by hedge funds and other institutional investors.
QCR Stock Down 2.7%
QCRH stock opened at $101.14 on Thursday. 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 company’s 50 day moving average is $99.31 and its two-hundred day moving average is $92.79. The stock has a market cap of $1.66 billion, a P/E ratio of 11.96 and a beta of 0.74.
Insider Buying and Selling
In related news, CEO Laura L. Ekizian sold 750 shares of the business’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 $578,591.28. The trade was a 10.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.20% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on QCRH. Piper Sandler reaffirmed an “overweight” rating and set a $123.00 target price (up from $107.00) on shares of QCR in a research note on Monday, July 27th. Keefe, Bruyette & Woods raised their price target on shares of QCR from $105.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Weiss Ratings restated a “buy (b)” rating on shares of QCR in a research note on Monday, July 6th. Raymond James Financial reaffirmed an “outperform” rating and set a $99.00 price objective on shares of QCR in a research report on Monday, April 27th. Finally, DA Davidson increased their price objective on QCR from $97.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $108.75.
Read Our Latest Research Report on QCR
QCR 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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