QCR Holdings, Inc. $QCRH Position Raised by Victory Capital Management Inc.

Victory Capital Management Inc. raised its position in shares of QCR Holdings, Inc. (NASDAQ:QCRH) by 715.4% in the third quarter, HoldingsChannel.com reports. The firm owned 400,229 shares of the bank’s stock after buying an additional 351,145 shares during the period. Victory Capital Management Inc.’s holdings in QCR were worth $30,273,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kennedy Capital Management LLC boosted its stake in QCR by 33.6% during the second quarter. Kennedy Capital Management LLC now owns 333,667 shares of the bank’s stock valued at $22,656,000 after buying an additional 83,977 shares in the last quarter. Millennium Management LLC lifted its holdings in QCR by 124.5% in the 1st quarter. Millennium Management LLC now owns 98,583 shares of the bank’s stock valued at $7,031,000 after acquiring an additional 54,678 shares during the last quarter. Roubaix Capital LLC bought a new position in shares of QCR during the 3rd quarter valued at about $3,677,000. Endeavour Capital Advisors Inc. grew its stake in shares of QCR by 20.5% in the 3rd quarter. Endeavour Capital Advisors Inc. now owns 266,465 shares of the bank’s stock worth $20,155,000 after purchasing an additional 45,389 shares during the last quarter. Finally, Schroder Investment Management Group grew its stake in shares of QCR by 25.2% in the 2nd quarter. Schroder Investment Management Group now owns 188,481 shares of the bank’s stock worth $12,809,000 after purchasing an additional 37,905 shares during the last quarter. Institutional investors own 70.01% of the company’s stock.

QCR Stock Performance

QCRH stock opened at $83.05 on Monday. The firm has a 50 day simple moving average of $88.24 and a 200 day simple moving average of $81.90. QCR Holdings, Inc. has a 52 week low of $60.83 and a 52 week high of $96.00. The stock has a market cap of $1.39 billion, a P/E ratio of 11.06 and a beta of 0.82. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.00.

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

QCR Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Thursday, March 19th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from QCR’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, March 19th. QCR’s dividend payout ratio (DPR) is currently 3.20%.

Insider Activity

In related news, CFO Todd A. Gipple sold 8,590 shares of the stock in a transaction on Friday, January 30th. The stock was sold at an average price of $89.92, for a total transaction of $772,412.80. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Piper Sandler reissued an “overweight” rating and set a $108.00 target price (up from $105.00) on shares of QCR in a research note on Friday, January 30th. 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 report on Thursday, January 29th. Raymond James Financial reiterated an “outperform” rating and set a $103.00 price objective on shares of QCR in a research report on Friday, January 30th. Zacks Research downgraded shares of QCR from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Finally, DA Davidson raised their target price on QCR from $92.00 to $96.00 and gave the stock a “neutral” rating in a research report on Thursday, January 29th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, QCR has a consensus rating of “Moderate Buy” and a consensus price target of $102.25.

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.