QCR Holdings, Inc. (NASDAQ:QCRH) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas reduced its position in shares of QCR Holdings, Inc. (NASDAQ:QCRH) by 33.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,334 shares of the bank’s stock after selling 5,200 shares during the period. Teacher Retirement System of Texas’ holdings in QCR were worth $737,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Deutsche Bank AG raised its stake in shares of QCR by 49.1% during the 4th quarter. Deutsche Bank AG now owns 13,831 shares of the bank’s stock worth $1,115,000 after buying an additional 4,553 shares in the last quarter. Invesco Ltd. grew its holdings in QCR by 9.8% during the fourth quarter. Invesco Ltd. now owns 34,575 shares of the bank’s stock worth $2,788,000 after acquiring an additional 3,083 shares during the period. Charles Schwab Investment Management Inc. raised its position in QCR by 6.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 145,990 shares of the bank’s stock worth $11,773,000 after acquiring an additional 9,292 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in QCR by 3,042.1% in the fourth quarter. Lazard Asset Management LLC now owns 597 shares of the bank’s stock valued at $48,000 after acquiring an additional 578 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of QCR by 72.8% during the 4th quarter. Bank of America Corp DE now owns 35,191 shares of the bank’s stock worth $2,838,000 after purchasing an additional 14,825 shares in the last quarter. Institutional investors and hedge funds own 70.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of QCR from a “hold” rating to a “sell” rating in a report on Saturday, June 28th. Piper Sandler dropped their target price on shares of QCR from $98.00 to $88.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Raymond James Financial set a $78.00 price target on QCR and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Finally, Keefe, Bruyette & Woods lowered their price target on QCR from $99.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th.

Insider Buying and Selling

In related news, CEO Larry J. Helling purchased 1,000 shares of the business’s stock in a transaction dated Monday, April 28th. The stock was bought at an average cost of $64.53 per share, with a total value of $64,530.00. Following the completion of the acquisition, the chief executive officer directly owned 40,264 shares in the company, valued at $2,598,235.92. The trade was a 2.55% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.70% of the company’s stock.

QCR Price Performance

QCR stock opened at $72.20 on Wednesday. The firm has a market capitalization of $1.22 billion, a PE ratio of 10.86 and a beta of 0.80. QCR Holdings, Inc. has a 52 week low of $60.83 and a 52 week high of $96.08. The firm’s 50-day simple moving average is $68.52 and its 200 day simple moving average is $71.71. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.42.

QCR (NASDAQ:QCRH) last announced its earnings results on Tuesday, April 22nd. The bank reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.01. The company had revenue of $76.88 million during the quarter, compared to analysts’ expectations of $94.01 million. QCR had a net margin of 19.17% and a return on equity of 12.03%. During the same quarter in the previous year, the business posted $1.59 earnings per share. On average, equities research analysts predict that QCR Holdings, Inc. will post 6.82 EPS for the current fiscal year.

QCR Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 18th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date was Wednesday, June 18th. QCR’s payout ratio is currently 3.61%.

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.