Principal Financial Group Inc. Invests $1.80 Million in QCR Holdings, Inc. $QCRH

Principal Financial Group Inc. bought a new position in shares of QCR Holdings, Inc. (NASDAQ:QCRH) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 21,059 shares of the bank’s stock, valued at approximately $1,799,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Assetmark Inc. acquired a new stake in QCR during the fourth quarter worth approximately $37,000. Farther Finance Advisors LLC boosted its holdings in shares of QCR by 34.6% during the fourth quarter. Farther Finance Advisors LLC now owns 576 shares of the bank’s stock worth $48,000 after acquiring an additional 148 shares during the period. Kemnay Advisory Services Inc. acquired a new position in shares of QCR in the fourth quarter valued at approximately $61,000. Blue Trust Inc. acquired a new position in shares of QCR in the first quarter valued at approximately $71,000. Finally, Quadrant Capital Group LLC bought a new position in shares of QCR during the third quarter worth approximately $72,000. Institutional investors and hedge funds own 70.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. DA Davidson lifted their price target on QCR from $97.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday. Raymond James Financial reaffirmed an “outperform” rating and issued a $99.00 price objective on shares of QCR in a report on Monday, April 27th. Keefe, Bruyette & Woods increased their price objective on QCR from $105.00 to $108.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Weiss Ratings reissued a “buy (b)” rating on shares of QCR in a report on Monday, July 6th. Finally, Piper Sandler reissued an “overweight” rating and set a $123.00 target price (up from $107.00) on shares of QCR in a report on Monday. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $108.75.

QCR Trading Up 0.2%

Shares of QCRH stock opened at $103.10 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. The stock has a market cap of $1.70 billion, a P/E ratio of 12.19 and a beta of 0.75. The stock has a 50 day simple moving average of $95.91 and a 200 day simple moving average of $91.09. QCR Holdings, Inc. has a 1 year low of $66.65 and a 1 year high of $104.29.

QCR (NASDAQ:QCRH) last posted its quarterly earnings data on Wednesday, July 22nd. The bank reported $2.19 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.28. The firm had revenue of $97.34 million for the quarter, compared to analyst estimates of $104.10 million. QCR had a return on equity of 13.00% and a net margin of 22.86%. On average, research analysts predict that QCR Holdings, Inc. will post 8.5 earnings per share for the current fiscal year.

QCR Announces Dividend

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

Insider Activity

In related news, CEO Laura L. Ekizian sold 750 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer owned 6,093 shares in the company, valued at approximately $578,591.28. This trade represents a 10.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.20% of the company’s stock.

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.