Legato Capital Management LLC Cuts Holdings in QCR Holdings, Inc. $QCRH

Legato Capital Management LLC decreased its position in shares of QCR Holdings, Inc. (NASDAQ:QCRH) by 25.6% in the fourth quarter, HoldingsChannel reports. The firm owned 19,163 shares of the bank’s stock after selling 6,596 shares during the quarter. Legato Capital Management LLC’s holdings in QCR were worth $1,596,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in QCRH. Assetmark Inc. purchased a new position in shares of QCR during the fourth quarter valued at about $37,000. Farther Finance Advisors LLC grew its position in shares of QCR by 34.6% during 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 in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of QCR during the third quarter valued at about $51,000. Quadrant Capital Group LLC purchased a new position in shares of QCR during the third quarter valued at about $72,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of QCR during the third quarter valued at about $104,000. Hedge funds and other institutional investors own 70.01% of the company’s stock.

QCR Stock Down 0.2%

Shares of NASDAQ:QCRH opened at $90.88 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. QCR Holdings, Inc. has a 12 month low of $63.68 and a 12 month high of $96.00. The company has a 50-day moving average price of $88.01 and a 200 day moving average price of $86.27. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 11.39 and a beta of 0.77.

QCR (NASDAQ:QCRH) last announced its quarterly earnings results on Wednesday, April 22nd. The bank reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.21. QCR had a net margin of 21.98% and a return on equity of 12.54%. The firm had revenue of $89.52 million during the quarter, compared to the consensus estimate of $105.42 million. As a group, equities research analysts predict that QCR Holdings, Inc. will post 8.13 earnings per share for the current year.

Analyst Ratings Changes

QCRH has been the subject of a number of research analyst reports. Piper Sandler cut their price objective on QCR from $108.00 to $107.00 and set an “overweight” rating for the company in a research report on Monday, April 27th. Weiss Ratings raised shares of QCR from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 2nd. DA Davidson increased their price target on shares of QCR from $92.00 to $96.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. Keefe, Bruyette & Woods increased their price target on shares of QCR from $92.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $99.00 price target on shares of QCR in a report on Monday, April 27th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $101.00.

Insider Transactions at QCR

In other QCR news, insider James D. Klein sold 310 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $91.00, for a total value of $28,210.00. Following the completion of the sale, the insider owned 428 shares of the company’s stock, valued at $38,948. This trade represents a 42.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.20% of the stock is currently owned by insiders.

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.