Comerica Bank Lowers Stock Position in QCR Holdings, Inc. (NASDAQ:QCRH)

Comerica Bank cut its position in shares of QCR Holdings, Inc. (NASDAQ:QCRH) by 18.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,238 shares of the bank’s stock after selling 3,184 shares during the period. Comerica Bank’s holdings in QCR were worth $1,148,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. boosted its holdings in QCR by 9.8% during the fourth quarter. Invesco Ltd. now owns 34,575 shares of the bank’s stock worth $2,788,000 after buying an additional 3,083 shares in the last quarter. Barclays PLC lifted its holdings in QCR by 148.9% during the third quarter. Barclays PLC now owns 30,805 shares of the bank’s stock valued at $2,281,000 after purchasing an additional 18,430 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in QCR during the fourth quarter valued at $3,755,000. Charles Schwab Investment Management Inc. lifted its holdings in QCR by 6.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 145,990 shares of the bank’s stock valued at $11,773,000 after purchasing an additional 9,292 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in QCR by 23.7% during the fourth quarter. New York State Common Retirement Fund now owns 19,339 shares of the bank’s stock valued at $1,559,000 after purchasing an additional 3,700 shares in the last quarter. 70.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at QCR

In other news, CEO Larry J. Helling acquired 1,000 shares of the business’s stock in a transaction that occurred on Monday, April 28th. The stock was purchased at an average cost of $64.53 per share, for a total transaction of $64,530.00. Following the completion of the transaction, the chief executive officer now owns 40,264 shares in the company, valued at approximately $2,598,235.92. This trade represents a 2.55% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider James D. Klein sold 630 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $73.40, for a total transaction of $46,242.00. Following the sale, the insider now owns 428 shares of the company’s stock, valued at approximately $31,415.20. The trade was a 59.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on QCRH shares. Keefe, Bruyette & Woods decreased their price objective on shares of QCR from $99.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Raymond James set a $78.00 price objective on shares of QCR and gave the company an “outperform” rating in a report on Thursday, April 24th. Finally, Piper Sandler decreased their price objective on shares of QCR from $98.00 to $88.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th.

QCR Stock Performance

NASDAQ:QCRH opened at $67.16 on Monday. The company’s 50-day moving average price is $68.58 and its 200-day moving average price is $77.69. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.67. The company has a market cap of $1.14 billion, a P/E ratio of 10.01 and a beta of 0.80. QCR Holdings, Inc. has a twelve month low of $54.75 and a twelve month high of $96.08.

QCR (NASDAQ:QCRH) last posted its quarterly earnings results on Tuesday, April 22nd. The bank reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.01. The firm had revenue of $76.88 million for the quarter, compared to the consensus estimate of $94.01 million. QCR had a net margin of 19.06% and a return on equity of 12.68%. During the same period last year, the firm posted $1.59 earnings per share. On average, sell-side analysts forecast that QCR Holdings, Inc. will post 6.82 earnings per share for the current fiscal year.

QCR Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Wednesday, March 19th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend was Wednesday, March 19th. QCR’s dividend payout ratio is currently 3.61%.

About QCR

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.