Sterling Capital Management LLC Lowers Stock Holdings in QCR Holdings, Inc. $QCRH

Sterling Capital Management LLC lowered its stake in QCR Holdings, Inc. (NASDAQ:QCRH) by 13.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,351 shares of the bank’s stock after selling 6,455 shares during the period. Sterling Capital Management LLC owned approximately 0.24% of QCR worth $3,448,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Cetera Investment Advisers boosted its holdings in shares of QCR by 2.6% in the fourth quarter. Cetera Investment Advisers now owns 4,883 shares of the bank’s stock valued at $407,000 after acquiring an additional 122 shares in the last quarter. Farther Finance Advisors LLC lifted its position in QCR by 34.6% in the fourth quarter. Farther Finance Advisors LLC now owns 576 shares of the bank’s stock valued at $48,000 after purchasing an additional 148 shares during the period. Legal & General Group Plc boosted its holdings in QCR by 1.0% in the 2nd quarter. Legal & General Group Plc now owns 17,366 shares of the bank’s stock valued at $1,179,000 after purchasing an additional 165 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in QCR by 0.7% during 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 purchasing an additional 185 shares during the period. Finally, LPL Financial LLC increased its position in 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. Institutional investors and hedge funds own 70.01% of the company’s stock.

QCR Trading Up 1.7%

Shares of QCR stock opened at $98.27 on Friday. QCR Holdings, Inc. has a 12-month low of $66.16 and a 12-month high of $98.76. The company has a current ratio of 0.96, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. The stock has a market cap of $1.62 billion, a PE ratio of 12.31 and a beta of 0.76. The company has a 50-day moving average of $92.16 and a two-hundred day moving average of $88.84.

QCR (NASDAQ:QCRH) last announced its quarterly earnings results on Wednesday, April 22nd. The bank reported $1.99 EPS for the quarter, topping the consensus estimate of $1.78 by $0.21. QCR had a return on equity of 12.54% and a net margin of 21.98%.The business had revenue of $89.52 million for the quarter, compared to analyst estimates of $105.42 million. On average, research analysts anticipate that QCR Holdings, Inc. will post 8.13 EPS for the current fiscal year.

QCR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 3rd. Shareholders of record on Thursday, June 18th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $0.40 annualized dividend and a yield of 0.4%. QCR’s dividend payout ratio is 5.01%.

Insiders Place Their Bets

In other QCR news, insider James D. Klein sold 310 shares of QCR stock in a transaction dated Thursday, April 30th. The shares were 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. The trade was a 42.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Laura L. Ekizian sold 750 shares of QCR stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $94.96, for a total transaction of $71,220.00. Following the transaction, the chief executive officer owned 6,093 shares of the company’s stock, valued at approximately $578,591.28. The trade was a 10.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on QCRH shares. Piper Sandler reduced their price target on QCR from $108.00 to $107.00 and set an “overweight” rating for the company in a report on Monday, April 27th. Raymond James Financial reiterated an “outperform” rating and issued a $99.00 price objective on shares of QCR in a research report on Monday, April 27th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, QCR presently has an average rating of “Moderate Buy” and a consensus price target of $101.00.

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.