WCM Investment Management LLC Purchases 10,314 Shares of QCR Holdings, Inc. $QCRH

WCM Investment Management LLC raised its holdings in shares of QCR Holdings, Inc. (NASDAQ:QCRH) by 16.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 71,300 shares of the bank’s stock after purchasing an additional 10,314 shares during the quarter. WCM Investment Management LLC’s holdings in QCR were worth $6,018,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of QCR in the third quarter worth approximately $9,825,000. Kennedy Capital Management LLC boosted its holdings in QCR by 9.7% during the 4th quarter. Kennedy Capital Management LLC now owns 762,068 shares of the bank’s stock valued at $63,480,000 after acquiring an additional 67,517 shares during the period. Endeavour Capital Advisors Inc. boosted its holdings in QCR by 23.3% during the 4th quarter. Endeavour Capital Advisors Inc. now owns 328,497 shares of the bank’s stock valued at $27,364,000 after acquiring an additional 62,032 shares during the period. Kestrel Investment Management Corp bought a new position in QCR in the 4th quarter valued at $4,636,000. Finally, Millennium Management LLC grew its position 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. Institutional investors own 70.01% of the company’s stock.

QCR Stock Performance

QCR stock opened at $97.75 on Tuesday. The company has a 50 day moving average price of $94.18 and a 200-day moving average price of $90.14. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.89 and a current ratio of 0.96. QCR Holdings, Inc. has a fifty-two week low of $66.65 and a fifty-two week high of $100.30. The company has a market capitalization of $1.61 billion, a PE ratio of 12.25 and a beta of 0.75.

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

QCR Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 3rd. Shareholders of record on Thursday, June 18th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, June 18th. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. QCR’s payout ratio is 5.01%.

Insider Buying and Selling at QCR

In other news, insider James D. Klein sold 310 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $91.00, for a total transaction of $28,210.00. Following the transaction, the insider owned 428 shares in the company, valued at approximately $38,948. This trade represents a 42.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Laura L. Ekizian sold 750 shares of the firm’s stock in a transaction 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 owned 6,093 shares in the company, valued at approximately $578,591.28. This represents a 10.96% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of QCR in a research note on Monday, July 6th. Raymond James Financial reissued an “outperform” rating and set a $99.00 target price on shares of QCR in a research note on Monday, April 27th. Finally, Piper Sandler cut their price target on shares of QCR from $108.00 to $107.00 and set an “overweight” rating on the stock in a report on Monday, April 27th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $101.00.

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.