QCR Holdings, Inc. $QCRH Shares Bought by Legato Capital Management LLC

Legato Capital Management LLC grew its holdings in QCR Holdings, Inc. (NASDAQ:QCRH) by 32.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 25,759 shares of the bank’s stock after buying an additional 6,287 shares during the period. Legato Capital Management LLC’s holdings in QCR were worth $1,948,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of QCRH. AQR Capital Management LLC lifted its position in QCR by 20.7% in the first quarter. AQR Capital Management LLC now owns 38,470 shares of the bank’s stock valued at $2,744,000 after buying an additional 6,607 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of QCR by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,729 shares of the bank’s stock valued at $694,000 after acquiring an additional 403 shares during the last quarter. Millennium Management LLC raised its stake in shares of QCR by 124.5% in the 1st quarter. Millennium Management LLC now owns 98,583 shares of the bank’s stock valued at $7,031,000 after acquiring an additional 54,678 shares during the period. Jane Street Group LLC lifted its holdings in shares of QCR by 106.5% in the 1st quarter. Jane Street Group LLC now owns 30,052 shares of the bank’s stock worth $2,143,000 after acquiring an additional 15,501 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of QCR by 2.6% in the 2nd quarter. Geode Capital Management LLC now owns 435,133 shares of the bank’s stock worth $29,549,000 after acquiring an additional 11,033 shares during the last quarter. 70.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Todd A. Gipple sold 8,590 shares of QCR stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $89.92, for a total value of $772,412.80. Following the sale, the chief financial officer directly owned 44,902 shares in the company, valued at $4,037,587.84. The trade was a 16.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Keefe, Bruyette & Woods lifted their target price on shares of QCR from $92.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. Piper Sandler reaffirmed an “overweight” rating and issued a $108.00 price objective (up from $105.00) on shares of QCR in a research note on Friday, January 30th. Weiss Ratings upgraded QCR from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 2nd. Zacks Research lowered QCR from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Finally, DA Davidson raised their target price on QCR from $92.00 to $96.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $102.25.

QCR Stock Performance

Shares of QCRH opened at $87.99 on Tuesday. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 11.72 and a beta of 0.82. QCR Holdings, Inc. has a 52-week low of $60.83 and a 52-week high of $96.00. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. The stock has a 50 day moving average price of $88.12 and a 200 day moving average price of $81.58.

QCR (NASDAQ:QCRH) last posted its earnings results on Tuesday, January 27th. The bank reported $2.21 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.25. QCR had a return on equity of 12.30% and a net margin of 21.07%.The business had revenue of $107.02 million during the quarter, compared to the consensus estimate of $106.87 million. Research analysts predict that QCR Holdings, Inc. will post 6.82 EPS for the current fiscal year.

QCR Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 3rd. Investors of record on Thursday, March 19th will be issued a dividend of $0.10 per share. This is an increase from QCR’s previous quarterly dividend of $0.06. This represents a $0.40 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, March 19th. QCR’s dividend payout ratio is currently 3.20%.

QCR Company Profile

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.