Summit Global Investments Acquires Shares of 10,200 QCR Holdings, Inc. (QCRH)
Summit Global Investments acquired a new stake in QCR Holdings, Inc. (NASDAQ:QCRH) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,200 shares of the bank’s stock, valued at approximately $483,000. Summit Global Investments owned approximately 0.08% of QCR Holdings as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. Kennedy Capital Management Inc. acquired a new stake in QCR Holdings in the second quarter valued at about $5,760,000. AJO LP raised its position in QCR Holdings by 507.5% in the second quarter. AJO LP now owns 88,437 shares of the bank’s stock valued at $4,192,000 after purchasing an additional 73,879 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in QCR Holdings in the second quarter valued at about $4,119,000. Martingale Asset Management L P raised its position in QCR Holdings by 17.6% in the second quarter. Martingale Asset Management L P now owns 84,933 shares of the bank’s stock valued at $4,026,000 after purchasing an additional 12,704 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in QCR Holdings by 5.5% in the second quarter. Bank of New York Mellon Corp now owns 67,856 shares of the bank’s stock valued at $3,217,000 after purchasing an additional 3,545 shares during the last quarter. 62.07% of the stock is currently owned by institutional investors and hedge funds.
Shares of QCR Holdings, Inc. (QCRH) opened at 43.00 on Thursday. QCR Holdings, Inc. has a 1-year low of $28.70 and a 1-year high of $50.00. The company’s 50-day moving average price is $44.45 and its 200 day moving average price is $44.76. The firm has a market cap of $566.78 million, a PE ratio of 17.69 and a beta of 0.62.
QCR Holdings (NASDAQ:QCRH) last released its earnings results on Thursday, July 20th. The bank reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). QCR Holdings had a net margin of 21.11% and a return on equity of 11.17%. The company had revenue of $34.83 million during the quarter, compared to the consensus estimate of $36.49 million. On average, analysts predict that QCR Holdings, Inc. will post $2.72 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Friday, September 15th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Thursday, September 14th. QCR Holdings’s dividend payout ratio (DPR) is presently 8.23%.
In other QCR Holdings news, EVP Cathie Whiteside sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $46.23, for a total transaction of $231,150.00. Following the completion of the transaction, the executive vice president now owns 17,255 shares of the company’s stock, valued at approximately $797,698.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Todd A. Gipple sold 5,920 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $43.00, for a total value of $254,560.00. Following the transaction, the chief financial officer now directly owns 49,162 shares of the company’s stock, valued at approximately $2,113,966. The disclosure for this sale can be found here. Insiders have sold a total of 14,450 shares of company stock valued at $646,051 in the last ninety days. 8.80% of the stock is currently owned by corporate insiders.
Several equities analysts have commented on the company. ValuEngine downgraded QCR Holdings from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. BidaskClub downgraded QCR Holdings from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Keefe, Bruyette & Woods set a $52.00 price objective on QCR Holdings and gave the stock a “buy” rating in a research report on Saturday, July 22nd. Finally, Maxim Group restated a “buy” rating and set a $53.00 price objective on shares of QCR Holdings in a research report on Thursday, June 15th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $47.00.
QCR Holdings Company Profile
QCR Holdings, Inc is a multi-bank holding company. The Company serves the Quad Cities, Cedar Rapids, Waterloo/Cedar Falls, Des Moines/Ankeny and Rockford communities through its banking subsidiaries, Quad City Bank and Trust Company (QCBT), Cedar Rapids Bank and Trust Company (CRBT), Community State Bank (CSB), and Rockford Bank and Trust Company (RB&T), which provide full-service commercial and consumer banking and trust and asset management services.
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