QCR Holdings, Inc. $QCRH Shares Sold by Royal Bank of Canada

Royal Bank of Canada cut its stake in QCR Holdings, Inc. (NASDAQ:QCRH) by 53.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,116 shares of the bank’s stock after selling 21,075 shares during the period. Royal Bank of Canada owned approximately 0.11% of QCR worth $1,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in QCRH. Kennedy Capital Management LLC boosted its stake in QCR by 9.7% during the fourth quarter. Kennedy Capital Management LLC now owns 762,068 shares of the bank’s stock worth $63,480,000 after buying an additional 67,517 shares during the last quarter. Endeavour Capital Advisors Inc. increased its stake in shares of QCR by 23.3% in the 4th quarter. Endeavour Capital Advisors Inc. now owns 328,497 shares of the bank’s stock worth $27,364,000 after acquiring an additional 62,032 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of QCR by 0.5% in the 3rd quarter. Wellington Management Group LLP now owns 243,762 shares of the bank’s stock worth $18,438,000 after acquiring an additional 1,118 shares during the last quarter. Bridgeway Capital Management LLC raised its holdings in shares of QCR by 2.1% during the 3rd quarter. Bridgeway Capital Management LLC now owns 174,571 shares of the bank’s stock worth $13,205,000 after acquiring an additional 3,568 shares during the period. Finally, Qube Research & Technologies Ltd raised its holdings in shares of QCR by 28.4% during the 2nd quarter. Qube Research & Technologies Ltd now owns 155,127 shares of the bank’s stock worth $10,533,000 after acquiring an additional 34,346 shares during the period. Institutional investors and hedge funds own 70.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of QCR in a report on Monday, July 6th. DA Davidson lifted their target price on shares of QCR from $97.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Keefe, Bruyette & Woods lifted their target price on shares of QCR from $105.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Piper Sandler reissued an “overweight” rating and issued a $123.00 price target (up from $107.00) on shares of QCR in a research note on Monday, July 27th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $99.00 price target on shares of QCR in a research note on Monday, April 27th. Four equities research 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 a consensus rating of “Moderate Buy” and an average target price of $108.75.

QCR Stock Down 2.7%

Shares of QCRH opened at $101.14 on Thursday. The firm has a market cap of $1.66 billion, a P/E ratio of 11.96 and a beta of 0.74. QCR Holdings, Inc. has a 12-month low of $66.65 and a 12-month high of $108.11. The company’s 50-day moving average price is $99.31 and its 200 day moving average price is $92.79. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.57.

QCR (NASDAQ:QCRH) last posted its earnings results on Wednesday, July 22nd. The bank reported $2.19 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.28. QCR had a net margin of 22.86% and a return on equity of 12.87%. The company had revenue of $97.34 million for the quarter, compared to analysts’ expectations of $104.10 million. On average, sell-side analysts forecast that QCR Holdings, Inc. will post 8.5 earnings per share for the current year.

Insider Activity

In other news, CEO Laura L. Ekizian sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were 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 represents a 10.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.20% of the company’s stock.

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.