United Fire Group Inc. Maintains Position in QCR Holdings, Inc. (NASDAQ:QCRH)
United Fire Group Inc. continued to hold its stake in QCR Holdings, Inc. (NASDAQ:QCRH) during the second quarter, Holdings Channel reports. The fund owned 113,181 shares of the bank’s stock at the end of the second quarter. QCR Holdings accounts for about 1.9% of United Fire Group Inc.’s holdings, making the stock its 14th largest position. United Fire Group Inc.’s holdings in QCR Holdings were worth $5,365,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of QCRH. First Quadrant L P CA acquired a new position in shares of QCR Holdings during the second quarter valued at $468,000. Municipal Employees Retirement System of Michigan acquired a new position in shares of QCR Holdings during the second quarter valued at $723,000. Bowling Portfolio Management LLC acquired a new position in shares of QCR Holdings during the second quarter valued at $746,000. Bessemer Group Inc. increased its position in shares of QCR Holdings by 0.4% in the second quarter. Bessemer Group Inc. now owns 23,300 shares of the bank’s stock valued at $1,104,000 after buying an additional 100 shares during the period. Finally, Busey Trust CO acquired a new position in shares of QCR Holdings during the second quarter valued at $213,000. 60.77% of the stock is currently owned by hedge funds and other institutional investors.
Shares of QCR Holdings, Inc. (NASDAQ:QCRH) opened at 44.40 on Friday. The stock’s 50 day moving average price is $46.91 and its 200-day moving average price is $44.67. QCR Holdings, Inc. has a 12-month low of $28.70 and a 12-month high of $50.00. The firm has a market capitalization of $584.97 million, a P/E ratio of 18.26 and a beta of 0.61.
QCR Holdings (NASDAQ:QCRH) last issued its earnings results on Thursday, July 20th. The bank reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by $0.01. The company had revenue of $34.83 million for the quarter, compared to analyst estimates of $36.49 million. QCR Holdings had a net margin of 21.11% and a return on equity of 11.17%. On average, equities analysts expect that QCR Holdings, Inc. will post $2.72 EPS for the current year.
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Several research analysts have weighed in on QCRH shares. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $47.00 price target on shares of QCR Holdings in a report on Friday, April 21st. Maxim Group reiterated a “buy” rating and issued a $50.00 price target on shares of QCR Holdings in a report on Monday, April 24th. ValuEngine upgraded QCR Holdings from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, BidaskClub downgraded QCR Holdings from a “buy” rating to a “hold” rating in a report on Monday, July 24th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. QCR Holdings presently has a consensus rating of “Buy” and a consensus target price of $43.75.
In other news, EVP Cathie Whiteside sold 5,000 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $46.23, for a total transaction of $231,150.00. Following the transaction, the executive vice president now owns 17,255 shares in the company, valued at approximately $797,698.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 8,052 shares of company stock worth $370,937 in the last 90 days. 8.80% of the stock is owned by insiders.
About QCR Holdings
QCR Holdings, Inc is a multi-bank holding company. The Company serves the Quad Cities, Cedar Rapids, Waterloo/Cedar Falls, Des Moines/Ankeny and Rockford communities through its banking subsidiaries, Quad City Bank and Trust Company (QCBT), Cedar Rapids Bank and Trust Company (CRBT), Community State Bank (CSB), and Rockford Bank and Trust Company (RB&T), which provide full-service commercial and consumer banking and trust and asset management services.
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