Raymond James Financial Inc. Invests $3.98 Million in QCR Holdings, Inc. (NASDAQ:QCRH)

Raymond James Financial Inc. acquired a new stake in QCR Holdings, Inc. (NASDAQ:QCRH) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 49,347 shares of the bank’s stock, valued at approximately $3,979,000. Raymond James Financial Inc. owned approximately 0.29% of QCR as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its stake in shares of QCR by 10.8% in the third quarter. JPMorgan Chase & Co. now owns 421,843 shares of the bank’s stock worth $31,229,000 after acquiring an additional 41,043 shares in the last quarter. Barclays PLC grew its stake in QCR by 148.9% during the 3rd quarter. Barclays PLC now owns 30,805 shares of the bank’s stock worth $2,281,000 after purchasing an additional 18,430 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in QCR during the 4th quarter worth about $3,755,000. Charles Schwab Investment Management Inc. raised its position in QCR by 6.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 145,990 shares of the bank’s stock valued at $11,773,000 after purchasing an additional 9,292 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of QCR by 11.2% in the 3rd quarter. Principal Financial Group Inc. now owns 8,306 shares of the bank’s stock valued at $615,000 after buying an additional 834 shares during the period. 70.01% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider James D. Klein sold 630 shares of QCR stock in a transaction on Friday, March 14th. The shares were sold at an average price of $73.40, for a total value of $46,242.00. Following 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Nicole A. Lee purchased 1,094 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were acquired at an average price of $78.47 per share, with a total value of $85,846.18. Following the purchase, the executive vice president now owns 1,881 shares in the company, valued at $147,602.07. This trade represents a 139.01 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.70% of the stock is currently owned by corporate insiders.

QCR Stock Down 1.5 %

QCRH stock opened at $64.16 on Friday. The company’s 50 day moving average is $70.49 and its two-hundred day moving average is $78.60. QCR Holdings, Inc. has a twelve month low of $54.75 and a twelve month high of $96.08. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.67. The stock has a market cap of $1.09 billion, a P/E ratio of 9.56 and a beta of 0.81.

QCR (NASDAQ:QCRH) last announced its quarterly earnings results on Tuesday, April 22nd. The bank reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.01. The firm had revenue of $76.88 million during the quarter, compared to analysts’ expectations of $94.01 million. QCR had a net margin of 19.06% and a return on equity of 12.68%. During the same period in the previous year, the company earned $1.59 earnings per share. Research analysts expect that QCR Holdings, Inc. will post 6.82 earnings per share for the current fiscal year.

QCR Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Wednesday, March 19th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $0.24 dividend on an annualized basis and a yield of 0.37%. QCR’s dividend payout ratio is presently 3.61%.

Wall Street Analyst Weigh In

QCRH has been the topic of a number of recent research reports. Raymond James set a $78.00 target price on shares of QCR and gave the stock an “outperform” rating in a research note on Thursday. 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 research report on Thursday. Finally, Piper Sandler dropped their target price on QCR from $98.00 to $88.00 and set an “overweight” rating on the stock in a report on Thursday.

QCR Company 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.