SG Americas Securities LLC trimmed its position in QCR Holdings, Inc. (NASDAQ:QCRH – Free Report) by 67.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,695 shares of the bank’s stock after selling 5,632 shares during the period. SG Americas Securities LLC’s holdings in QCR were worth $230,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of QCRH. Assetmark Inc. acquired a new stake in QCR in the 4th quarter valued at approximately $37,000. Farther Finance Advisors LLC grew its stake in shares of QCR by 34.6% during the 4th quarter. Farther Finance Advisors LLC now owns 576 shares of the bank’s stock worth $48,000 after acquiring an additional 148 shares in the last quarter. Kemnay Advisory Services Inc. bought a new position in shares of QCR during the 4th quarter worth approximately $61,000. Quadrant Capital Group LLC acquired a new stake in shares of QCR in the third quarter valued at approximately $72,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of QCR in the third quarter valued at approximately $104,000. 70.01% of the stock is currently owned by institutional investors.
Insider Activity
In related news, insider James D. Klein sold 310 shares of QCR stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $91.00, for a total transaction of $28,210.00. Following the completion of the transaction, the insider owned 428 shares in the company, valued at approximately $38,948. This trade represents a 42.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Laura L. Ekizian sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $94.96, for a total value of $71,220.00. Following the transaction, the chief executive officer directly owned 6,093 shares in the company, valued at approximately $578,591.28. This trade represents a 10.96% decrease in their position. The SEC filing for this sale provides additional information. 3.20% of the stock is owned by insiders.
QCR Stock Up 0.5%
QCR (NASDAQ:QCRH – Get Free Report) last released its earnings results on Wednesday, April 22nd. The bank reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.21. QCR had a net margin of 21.98% and a return on equity of 12.54%. The business had revenue of $89.52 million during the quarter, compared to analysts’ expectations of $105.42 million. On average, equities research analysts forecast that QCR Holdings, Inc. will post 8.13 earnings per share for the current year.
QCR Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 3rd. Stockholders of record on Thursday, June 18th were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, June 18th. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. QCR’s payout ratio is currently 5.01%.
Analysts Set New Price Targets
A number of analysts have recently commented on the stock. Raymond James Financial reissued an “outperform” rating and issued a $99.00 price objective on shares of QCR in a research report on Monday, April 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of QCR in a research report on Monday, July 6th. Finally, Piper Sandler lowered their price target on shares of QCR from $108.00 to $107.00 and set an “overweight” rating on the stock in a research note on Monday, April 27th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $101.00.
View Our Latest Report on QCRH
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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