Vanguard Group Inc. Sells 14,228 Shares of QCR Holdings, Inc. $QCRH

Vanguard Group Inc. decreased its holdings in shares of QCR Holdings, Inc. (NASDAQ:QCRH) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 953,171 shares of the bank’s stock after selling 14,228 shares during the quarter. Vanguard Group Inc. owned about 5.63% of QCR worth $72,098,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. AQR Capital Management LLC lifted its holdings in QCR by 20.7% in the first quarter. AQR Capital Management LLC now owns 38,470 shares of the bank’s stock valued at $2,744,000 after buying an additional 6,607 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in QCR by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,729 shares of the bank’s stock valued at $694,000 after acquiring an additional 403 shares during the last quarter. Millennium Management LLC grew its holdings in QCR by 124.5% during the 1st quarter. Millennium Management LLC now owns 98,583 shares of the bank’s stock worth $7,031,000 after acquiring an additional 54,678 shares during the period. Jane Street Group LLC grew its holdings in QCR by 106.5% during the 1st quarter. Jane Street Group LLC now owns 30,052 shares of the bank’s stock worth $2,143,000 after acquiring an additional 15,501 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of QCR by 2.6% during the 2nd quarter. Geode Capital Management LLC now owns 435,133 shares of the bank’s stock valued at $29,549,000 after acquiring an additional 11,033 shares during the last quarter. 70.01% of the stock is owned by institutional investors.

Insider Transactions at QCR

In other QCR news, CFO Todd A. Gipple sold 8,590 shares of the stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $89.92, for a total value of $772,412.80. Following the completion of the sale, the chief financial officer directly owned 44,902 shares in the company, valued at $4,037,587.84. This represents a 16.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.70% of the company’s stock.

QCR Trading Down 3.4%

QCRH opened at $83.05 on Friday. The firm’s fifty day moving average is $88.24 and its two-hundred day moving average is $81.80. The firm has a market cap of $1.39 billion, a PE ratio of 11.06 and a beta of 0.82. QCR Holdings, Inc. has a twelve month low of $60.83 and a twelve month high of $96.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.00.

QCR (NASDAQ:QCRH) last announced its quarterly earnings results on Tuesday, January 27th. The bank reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.25. QCR had a net margin of 21.07% and a return on equity of 12.13%. The company had revenue of $107.02 million during the quarter, compared to analyst estimates of $106.87 million. Equities research analysts anticipate that QCR Holdings, Inc. will post 6.82 EPS for the current year.

QCR Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Shareholders of record on Thursday, March 19th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, March 19th. This is a positive change from QCR’s previous quarterly dividend of $0.06. This represents a $0.40 dividend on an annualized basis and a yield of 0.5%. QCR’s payout ratio is presently 3.20%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on QCRH shares. Keefe, Bruyette & Woods increased their price target on QCR from $92.00 to $102.00 and gave the company an “outperform” rating in a research note on Thursday, January 29th. DA Davidson upped their price objective on QCR from $92.00 to $96.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. Raymond James Financial reissued an “outperform” rating and issued a $103.00 target price on shares of QCR in a research note on Friday, January 30th. Piper Sandler reissued an “overweight” rating and issued a $108.00 target price (up from $105.00) on shares of QCR in a research note on Friday, January 30th. Finally, Zacks Research cut QCR from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $102.25.

About QCR

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.