Fifth Third Bancorp Takes Position in QCR Holdings, Inc. $QCRH

Fifth Third Bancorp bought a new position in shares of QCR Holdings, Inc. (NASDAQ:QCRH) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,788 shares of the bank’s stock, valued at approximately $751,000. Fifth Third Bancorp owned about 0.05% of QCR as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of QCRH. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of QCR in the third quarter worth about $9,825,000. Kennedy Capital Management LLC grew its stake 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 purchasing an additional 67,517 shares in the last quarter. Endeavour Capital Advisors Inc. increased 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 worth $27,364,000 after purchasing an additional 62,032 shares during the last quarter. Kestrel Investment Management Corp purchased a new stake in QCR during the 4th quarter worth approximately $4,636,000. Finally, Millennium Management LLC raised its position in shares of 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 purchasing an additional 54,678 shares in the last quarter. 70.01% of the stock is owned by hedge funds and other institutional investors.

QCR Trading Up 0.0%

Shares of NASDAQ QCRH opened at $100.16 on Tuesday. The stock’s 50 day moving average price is $95.14 and its two-hundred day moving average price is $90.67. QCR Holdings, Inc. has a 52-week low of $66.65 and a 52-week high of $101.83. The stock has a market capitalization of $1.65 billion, a P/E ratio of 11.84 and a beta of 0.75. The company has a quick ratio of 0.89, a current ratio of 0.96 and a debt-to-equity ratio of 0.37.

QCR (NASDAQ:QCRH) last issued its earnings results on Wednesday, July 22nd. The bank reported $2.19 EPS for the quarter, topping the consensus estimate of $1.91 by $0.28. QCR had a return on equity of 13.00% and a net margin of 22.86%.The company had revenue of $97.34 million during the quarter, compared to analyst estimates of $104.10 million. On average, analysts anticipate that QCR Holdings, Inc. will post 8.13 earnings per share for the current fiscal year.

QCR Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 3rd. Shareholders of record on Thursday, June 18th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Thursday, June 18th. QCR’s dividend payout ratio is 4.73%.

Insiders Place Their Bets

In related news, insider James D. Klein sold 310 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $91.00, for a total transaction 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 represents a 42.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Laura L. Ekizian sold 750 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $94.96, for a total transaction of $71,220.00. Following the sale, the chief executive officer owned 6,093 shares in the company, valued at approximately $578,591.28. This trade represents a 10.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on QCRH shares. Keefe, Bruyette & Woods increased their target price on QCR from $105.00 to $108.00 and gave the company an “outperform” rating in a research note on Friday. Raymond James Financial restated an “outperform” rating and issued a $99.00 price target on shares of QCR in a research note on Monday, April 27th. Piper Sandler reaffirmed an “overweight” rating and issued a $123.00 price target (up from $107.00) on shares of QCR in a report on Monday. DA Davidson increased their price objective on shares of QCR from $97.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of QCR in a report on Monday, July 6th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, QCR presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.75.

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.