Wedge Capital Management L L P NC Has $6.43 Million Holdings in QCR Holdings, Inc. (QCRH)
Wedge Capital Management L L P NC raised its stake in QCR Holdings, Inc. (NASDAQ:QCRH) by 62.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 141,208 shares of the bank’s stock after acquiring an additional 54,304 shares during the period. Wedge Capital Management L L P NC owned about 1.07% of QCR Holdings worth $6,425,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the business. Mesirow Financial Investment Management Inc. bought a new stake in QCR Holdings in the second quarter valued at $494,000. The Manufacturers Life Insurance Company grew its position in QCR Holdings by 2.2% in the second quarter. The Manufacturers Life Insurance Company now owns 289,332 shares of the bank’s stock valued at $13,714,000 after acquiring an additional 6,331 shares during the period. State Street Corp grew its position in QCR Holdings by 9.8% in the second quarter. State Street Corp now owns 223,447 shares of the bank’s stock valued at $10,590,000 after acquiring an additional 19,994 shares during the period. PDT Partners LLC bought a new stake in shares of QCR Holdings during the second quarter worth $670,000. Finally, Stifel Financial Corp grew its holdings in shares of QCR Holdings by 0.5% during the second quarter. Stifel Financial Corp now owns 101,596 shares of the bank’s stock worth $4,817,000 after purchasing an additional 464 shares during the last quarter. Hedge funds and other institutional investors own 61.96% of the company’s stock.
Shares of QCR Holdings, Inc. (NASDAQ QCRH) opened at $42.05 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $561.08, a price-to-earnings ratio of 16.35, a PEG ratio of 1.61 and a beta of 0.59. QCR Holdings, Inc. has a 1-year low of $32.85 and a 1-year high of $50.00.
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Several analysts have recently commented on QCRH shares. ValuEngine upgraded QCR Holdings from a “hold” rating to a “buy” rating in a report on Monday, August 7th. BidaskClub cut QCR Holdings from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. Piper Jaffray Companies set a $55.00 target price on QCR Holdings and gave the stock a “buy” rating in a report on Friday, October 6th. Keefe, Bruyette & Woods set a $52.00 target price on QCR Holdings and gave the stock a “buy” rating in a report on Saturday, July 22nd. Finally, Maxim Group decreased their target price on QCR Holdings from $53.00 to $51.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $52.67.
In other news, CFO Todd A. Gipple sold 5,920 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $43.00, for a total transaction of $254,560.00. Following the sale, the chief financial officer now owns 49,162 shares in the company, valued at $2,113,966. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.80% of the stock is currently owned by corporate insiders.
QCR Holdings Profile
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), Rockford Bank and Trust Company (RB&T), and Guaranty Bank and Trust Company, which provide full-service commercial and consumer banking and trust and asset management services.
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