Kennedy Capital Management LLC Acquires 360,884 Shares of QCR Holdings, Inc. $QCRH

Kennedy Capital Management LLC raised its holdings in QCR Holdings, Inc. (NASDAQ:QCRH) by 108.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 694,551 shares of the bank’s stock after acquiring an additional 360,884 shares during the quarter. QCR comprises 1.2% of Kennedy Capital Management LLC’s portfolio, making the stock its 2nd largest position. Kennedy Capital Management LLC’s holdings in QCR were worth $52,536,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in QCRH. Sei Investments Co. grew its stake in shares of QCR by 67.0% during the third quarter. Sei Investments Co. now owns 22,727 shares of the bank’s stock worth $1,719,000 after purchasing an additional 9,121 shares during the period. BNP Paribas Financial Markets boosted its holdings in QCR by 119.5% during the third quarter. BNP Paribas Financial Markets now owns 4,562 shares of the bank’s stock worth $345,000 after buying an additional 2,484 shares during the last quarter. Quadrant Capital Group LLC acquired a new position in shares of QCR during the 3rd quarter worth about $72,000. Swiss National Bank increased its stake in shares of QCR by 1.2% in the 3rd quarter. Swiss National Bank now owns 32,739 shares of the bank’s stock valued at $2,476,000 after acquiring an additional 400 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in shares of QCR in the 3rd quarter valued at approximately $104,000. Institutional investors own 70.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on QCRH. Piper Sandler restated an “overweight” rating and set a $108.00 price objective (up from $105.00) on shares of QCR in a report on Friday, January 30th. Keefe, Bruyette & Woods lifted their price target on shares of QCR from $92.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, January 29th. DA Davidson upped their price objective on shares of QCR from $92.00 to $96.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. Zacks Research downgraded QCR from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Finally, Weiss Ratings upgraded QCR from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 2nd. Four research analysts have rated the stock with a Buy rating and two have assigned 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 target price of $102.25.

Insider Activity

In related news, insider James D. Klein sold 554 shares of QCR stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $82.50, for a total transaction of $45,705.00. Following the completion of the transaction, the insider owned 738 shares in the company, valued at approximately $60,885. This trade represents a 42.88% 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, CFO Todd A. Gipple sold 8,590 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $89.92, for a total value of $772,412.80. Following the transaction, the chief financial officer directly owned 44,902 shares in the company, valued at approximately $4,037,587.84. This trade represents a 16.06% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 3.70% of the company’s stock.

QCR Stock Down 0.2%

Shares of QCR stock traded down $0.16 on Friday, hitting $81.76. The company had a trading volume of 9,864 shares, compared to its average volume of 96,368. The stock has a 50-day moving average of $88.21 and a 200-day moving average of $81.99. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.00 and a quick ratio of 1.00. QCR Holdings, Inc. has a twelve month low of $60.83 and a twelve month high of $96.00. The firm has a market capitalization of $1.37 billion, a P/E ratio of 10.89 and a beta of 0.82.

QCR (NASDAQ:QCRH) last posted its quarterly earnings data on Tuesday, January 27th. The bank reported $2.21 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 business had revenue of $107.02 million for the quarter, compared to analysts’ expectations of $106.87 million. Research analysts predict that QCR Holdings, Inc. will post 6.82 earnings per share for the current year.

QCR Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Thursday, March 19th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.5%. 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. QCR’s payout ratio is currently 3.20%.

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.