Renaissance Technologies LLC Has $17.53 Million Stock Position in QCR Holdings, Inc. $QCRH

Renaissance Technologies LLC trimmed its position in QCR Holdings, Inc. (NASDAQ:QCRH) by 10.0% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 205,171 shares of the bank’s stock after selling 22,700 shares during the quarter. Renaissance Technologies LLC’s holdings in QCR were worth $17,532,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Cetera Investment Advisers increased its holdings in shares of QCR by 2.4% during the first quarter. Cetera Investment Advisers now owns 4,999 shares of the bank’s stock valued at $427,000 after acquiring an additional 116 shares in the last quarter. Farther Finance Advisors LLC increased its stake in QCR by 34.6% during the 4th quarter. Farther Finance Advisors LLC now owns 576 shares of the bank’s stock valued at $48,000 after purchasing an additional 148 shares in the last quarter. Legal & General Group Plc raised its holdings in QCR by 1.0% during the second quarter. Legal & General Group Plc now owns 17,366 shares of the bank’s stock worth $1,179,000 after buying an additional 165 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of QCR by 0.7% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 28,395 shares of the bank’s stock valued at $2,365,000 after buying an additional 185 shares in the last quarter. Finally, LPL Financial LLC grew its holdings in shares of QCR by 3.8% during the fourth quarter. LPL Financial LLC now owns 5,208 shares of the bank’s stock valued at $434,000 after buying an additional 191 shares during the last quarter. 70.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at QCR

In other QCR news, CEO Laura L. Ekizian sold 750 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $94.96, for a total value of $71,220.00. Following the transaction, the chief executive officer directly owned 6,093 shares in the company, valued at $578,591.28. The trade was a 10.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.20% of the company’s stock.

QCR Stock Performance

QCRH stock opened at $103.10 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.96 and a debt-to-equity ratio of 0.37. The firm has a market cap of $1.70 billion, a PE ratio of 12.19 and a beta of 0.75. The business has a 50 day moving average of $95.91 and a 200-day moving average of $91.09. QCR Holdings, Inc. has a 12-month low of $66.65 and a 12-month high of $104.29.

QCR (NASDAQ:QCRH) last posted its quarterly earnings data on Wednesday, July 22nd. The bank reported $2.19 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.28. The business had revenue of $97.34 million for the quarter, compared to analysts’ expectations of $104.10 million. QCR had a return on equity of 13.00% and a net margin of 22.86%. As a group, sell-side analysts expect that QCR Holdings, Inc. will post 8.5 earnings per share for the current year.

QCR Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

QCR 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.