Jacobs Asset Management LLC Sells 9,694 Shares of QCR Holdings, Inc. $QCRH

Jacobs Asset Management LLC decreased its stake in QCR Holdings, Inc. (NASDAQ:QCRH) by 8.8% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 100,000 shares of the bank’s stock after selling 9,694 shares during the quarter. QCR comprises approximately 5.1% of Jacobs Asset Management LLC’s portfolio, making the stock its 6th largest position. Jacobs Asset Management LLC’s holdings in QCR were worth $8,545,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of QCRH. Assetmark Inc. purchased a new stake in shares of QCR during the 4th quarter valued at about $37,000. Farther Finance Advisors LLC grew its position in QCR by 34.6% in the fourth quarter. Farther Finance Advisors LLC now owns 576 shares of the bank’s stock valued at $48,000 after acquiring an additional 148 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new stake in QCR in the fourth quarter valued at approximately $61,000. Blue Trust Inc. purchased a new stake in shares of QCR during the first quarter valued at approximately $71,000. Finally, Quadrant Capital Group LLC purchased a new stake in shares of QCR during the third quarter valued at approximately $72,000. 70.01% of the stock is currently owned by hedge funds and other institutional investors.

QCR Price Performance

QCRH opened at $100.15 on Friday. The company 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 50-day moving average of $94.91 and a 200-day moving average of $90.51. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.89 and a current ratio of 0.96. QCR Holdings, Inc. has a 1-year low of $66.65 and a 1-year high of $101.42.

QCR (NASDAQ:QCRH) last issued its quarterly 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. The business had revenue of $97.34 million for the quarter, compared to analysts’ expectations of $104.10 million. QCR had a net margin of 22.86% and a return on equity of 13.00%. Equities analysts expect that QCR Holdings, Inc. will post 8.13 EPS for the current fiscal year.

QCR Dividend Announcement

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

Insider Buying and Selling

In other QCR news, insider James D. Klein sold 310 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $91.00, for a total transaction of $28,210.00. Following the transaction, the insider owned 428 shares of the company’s stock, valued at $38,948. This trade represents a 42.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Laura L. Ekizian sold 750 shares of QCR stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $94.96, for a total value of $71,220.00. Following the completion of the transaction, the chief executive officer owned 6,093 shares of the company’s stock, valued at approximately $578,591.28. The trade was a 10.96% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Weiss Ratings restated a “buy (b)” rating on shares of QCR in a research note on Monday, July 6th. Keefe, Bruyette & Woods boosted their price objective on shares of QCR from $105.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday. Piper Sandler decreased their price objective on shares of QCR from $108.00 to $107.00 and set an “overweight” rating for the company in a research report on Monday, April 27th. Finally, Raymond James Financial restated an “outperform” rating and set a $99.00 target price on shares of QCR in a research note on Monday, April 27th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.50.

About QCR

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.