Wedge Capital Management L L P NC Cuts Stock Position in QCR Holdings, Inc. (NASDAQ:QCRH)

Wedge Capital Management L L P NC lessened its holdings in QCR Holdings, Inc. (NASDAQ:QCRH) by 13.3% during the first quarter, HoldingsChannel.com reports. The fund owned 36,296 shares of the bank’s stock after selling 5,583 shares during the quarter. Wedge Capital Management L L P NC’s holdings in QCR were worth $2,589,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in QCRH. Farther Finance Advisors LLC purchased a new position in shares of QCR in the 4th quarter valued at $35,000. Lazard Asset Management LLC increased its stake in QCR by 3,042.1% during the 4th quarter. Lazard Asset Management LLC now owns 597 shares of the bank’s stock worth $48,000 after buying an additional 578 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in QCR during the 4th quarter worth $237,000. LPL Financial LLC purchased a new stake in QCR during the 4th quarter worth $263,000. Finally, Virtus Investment Advisers Inc. purchased a new stake in QCR during the 4th quarter worth $282,000. Hedge funds and other institutional investors own 70.01% of the company’s stock.

QCR Trading Up 0.2%

NASDAQ QCRH opened at $67.06 on Tuesday. QCR Holdings, Inc. has a one year low of $54.75 and a one year high of $96.08. The company has a 50-day simple moving average of $66.81 and a 200-day simple moving average of $75.03. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.99 and a current ratio of 1.02. The firm has a market capitalization of $1.14 billion, a PE ratio of 9.99 and a beta of 0.81.

QCR (NASDAQ:QCRH) last posted its quarterly earnings results on Tuesday, April 22nd. The bank reported $1.53 EPS for the quarter, beating the consensus estimate of $1.52 by $0.01. QCR had a net margin of 19.06% and a return on equity of 12.68%. The business had revenue of $76.88 million during the quarter, compared to analyst estimates of $94.01 million. During the same period in the previous year, the business posted $1.59 EPS. On average, equities analysts forecast that QCR Holdings, Inc. will post 6.82 earnings per share for the current year.

QCR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 18th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Wednesday, June 18th. QCR’s dividend payout ratio (DPR) is presently 3.61%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Piper Sandler dropped their price target on shares of QCR from $98.00 to $88.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Keefe, Bruyette & Woods decreased their price objective on shares of QCR from $99.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Raymond James set a $78.00 price objective on shares of QCR and gave the stock an “outperform” rating in a report on Thursday, April 24th. Finally, Wall Street Zen raised shares of QCR from a “sell” rating to a “hold” rating in a report on Friday, May 30th.

Insider Activity

In other QCR news, insider James D. Klein sold 630 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $73.40, for a total transaction of $46,242.00. Following the completion of the transaction, the insider now directly owns 428 shares of the company’s stock, valued at $31,415.20. The trade was a 59.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Larry J. Helling bought 1,000 shares of QCR stock in a transaction on Monday, April 28th. The shares were purchased at an average cost of $64.53 per share, with a total value of $64,530.00. Following the completion of the purchase, the chief executive officer now directly owns 40,264 shares in the company, valued at $2,598,235.92. This trade represents a 2.55% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 3.70% of the company’s stock.

QCR Profile

QCR Holdings, Inc, a multi-bank holding company, provides commercial and consumer banking, and trust and asset management services. The company’s deposit products include noninterest-bearing demand, interest-bearing demand, time, and brokered deposits. It also provides various commercial and retail lending/leasing, and investment services to corporations, partnerships, individuals, and government agencies.