Maltese Capital Management LLC Trims Position in QCR Holdings, Inc. $QCRH

Maltese Capital Management LLC decreased its position in shares of QCR Holdings, Inc. (NASDAQ:QCRH) by 44.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 156,900 shares of the bank’s stock after selling 128,100 shares during the quarter. QCR comprises approximately 1.8% of Maltese Capital Management LLC’s portfolio, making the stock its 14th biggest holding. Maltese Capital Management LLC’s holdings in QCR were worth $11,868,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Kennedy Capital Management LLC increased its position in QCR by 108.2% during the third quarter. Kennedy Capital Management LLC now owns 694,551 shares of the bank’s stock worth $52,536,000 after purchasing an additional 360,884 shares during the last quarter. Geode Capital Management LLC boosted its holdings in QCR by 2.6% in the 2nd quarter. Geode Capital Management LLC now owns 435,133 shares of the bank’s stock valued at $29,549,000 after purchasing an additional 11,033 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of QCR by 715.4% in the 3rd quarter. Victory Capital Management Inc. now owns 400,229 shares of the bank’s stock valued at $30,273,000 after buying an additional 351,145 shares during the period. Schroder Investment Management Group increased its holdings in shares of QCR by 86.2% during the 3rd quarter. Schroder Investment Management Group now owns 350,963 shares of the bank’s stock worth $26,663,000 after buying an additional 162,482 shares during the last quarter. Finally, Endeavour Capital Advisors Inc. raised its position in shares of QCR by 20.5% during the 3rd quarter. Endeavour Capital Advisors Inc. now owns 266,465 shares of the bank’s stock valued at $20,155,000 after buying an additional 45,389 shares during the period. Hedge funds and other institutional investors own 70.01% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on QCRH shares. Raymond James Financial reiterated an “outperform” rating and set a $103.00 price target on shares of QCR in a report on Friday, January 30th. DA Davidson lifted their price objective on QCR from $92.00 to $96.00 and gave the company a “neutral” rating in a research note on Thursday, January 29th. Keefe, Bruyette & Woods raised 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. Zacks Research downgraded shares of QCR from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Piper Sandler reiterated an “overweight” rating and set a $108.00 target price (up from $105.00) on shares of QCR in a research note on Friday, January 30th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $102.25.

QCR Price Performance

Shares of QCRH opened at $82.64 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.00 and a quick ratio of 1.00. QCR Holdings, Inc. has a 1-year low of $60.83 and a 1-year high of $96.00. The stock has a market cap of $1.38 billion, a PE ratio of 11.00 and a beta of 0.82. The firm has a fifty day moving average price of $88.18 and a 200 day moving average price of $82.07.

QCR (NASDAQ:QCRH) last posted its earnings results on Tuesday, January 27th. The bank reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.25. The business had revenue of $107.02 million for the quarter, compared to analysts’ expectations of $106.87 million. QCR had a return on equity of 12.13% and a net margin of 21.07%. As a group, sell-side analysts anticipate that QCR Holdings, Inc. will post 6.82 EPS for the current year.

QCR Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Shareholders of record on Thursday, March 19th will be paid a $0.10 dividend. This is an increase from QCR’s previous quarterly dividend of $0.06. The ex-dividend date is Thursday, March 19th. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. QCR’s dividend payout ratio (DPR) is 3.20%.

Insider Activity at QCR

In other QCR news, CFO Todd A. Gipple sold 8,590 shares of the business’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $89.92, for a total transaction of $772,412.80. Following the sale, the chief financial officer directly owned 44,902 shares in the company, valued at approximately $4,037,587.84. The trade was a 16.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James D. Klein sold 554 shares of the stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $82.50, for a total transaction of $45,705.00. Following the completion of the transaction, the insider owned 738 shares of the company’s stock, valued at $60,885. This represents a 42.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.70% of the stock is owned by corporate insiders.

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.