Cornercap Investment Counsel Inc. Has $332,000 Position in QCR Holdings, Inc. (NASDAQ:QCRH)

Cornercap Investment Counsel Inc. lowered its holdings in QCR Holdings, Inc. (NASDAQ:QCRH) by 51.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,490 shares of the bank’s stock after selling 4,814 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in QCR were worth $332,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of QCRH. BNP Paribas Financial Markets grew its position in QCR by 90.0% in the 1st quarter. BNP Paribas Financial Markets now owns 8,154 shares of the bank’s stock valued at $495,000 after purchasing an additional 3,862 shares during the period. SG Americas Securities LLC acquired a new stake in QCR in the 1st quarter valued at $116,000. Lazard Asset Management LLC acquired a new stake in QCR in the 1st quarter valued at $43,000. Price T Rowe Associates Inc. MD grew its position in QCR by 12.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,713 shares of the bank’s stock valued at $287,000 after purchasing an additional 539 shares during the period. Finally, Janus Henderson Group PLC grew its position in QCR by 131.3% in the 1st quarter. Janus Henderson Group PLC now owns 16,301 shares of the bank’s stock valued at $989,000 after purchasing an additional 9,253 shares during the period. Institutional investors and hedge funds own 70.01% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods restated an “outperform” rating and set a $82.00 price objective (up from $70.00) on shares of QCR in a research note on Monday, July 29th.

Insider Transactions at QCR

In other news, CAO Nick W. Anderson sold 675 shares of QCR stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $81.93, for a total transaction of $55,302.75. Following the sale, the chief accounting officer now directly owns 782 shares in the company, valued at $64,069.26. The trade was a 46.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.70% of the company’s stock.

QCR Price Performance

Shares of NASDAQ:QCRH opened at $89.89 on Monday. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.67. The stock’s fifty day simple moving average is $78.71 and its two-hundred day simple moving average is $69.23. QCR Holdings, Inc. has a 1-year low of $49.47 and a 1-year high of $93.72. The stock has a market cap of $1.52 billion, a PE ratio of 13.05 and a beta of 0.93.

QCR (NASDAQ:QCRH) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.29. QCR had a return on equity of 12.92% and a net margin of 19.25%. The business had revenue of $152.58 million for the quarter, compared to analysts’ expectations of $84.00 million. During the same period last year, the business earned $1.51 EPS. As a group, analysts forecast that QCR Holdings, Inc. will post 6.73 EPS for the current fiscal year.

QCR Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Friday, September 13th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend was Friday, September 13th. QCR’s payout ratio is 3.48%.

QCR 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.