Sterling Capital Management LLC Sells 10,910 Shares of QCR Holdings, Inc. $QCRH

Sterling Capital Management LLC lessened its stake in QCR Holdings, Inc. (NASDAQ:QCRH) by 27.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,328 shares of the bank’s stock after selling 10,910 shares during the quarter. Sterling Capital Management LLC’s holdings in QCR were worth $2,773,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Nykredit A S acquired a new position in QCR in the second quarter worth about $27,000. Assetmark Inc. raised its stake in QCR by 50.0% during the first quarter. Assetmark Inc. now owns 675 shares of the bank’s stock valued at $58,000 after buying an additional 225 shares in the last quarter. Blue Trust Inc. acquired a new stake in QCR during the first quarter valued at approximately $71,000. Geneos Wealth Management Inc. bought a new position in QCR during the 1st quarter worth approximately $102,000. Finally, Pinnacle Holdings LLC acquired a new position in shares of QCR in the 2nd quarter worth approximately $162,000. Institutional investors own 70.01% of the company’s stock.

QCR Stock Performance

Shares of QCRH opened at $103.37 on Monday. QCR Holdings, Inc. has a 1 year low of $71.69 and a 1 year high of $108.11. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 12.15 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a fifty day moving average of $100.42 and a 200-day moving average of $96.97.

QCR (NASDAQ:QCRH) last released its quarterly earnings results on Tuesday, October 20th. The bank reported $2.21 EPS for the quarter, topping the consensus estimate of $2.09 by $0.12. QCR had a net margin of 23.17% and a return on equity of 12.71%. The business had revenue of $99.17 million during the quarter, compared to analyst estimates of $108.97 million. As a group, equities analysts anticipate that QCR Holdings, Inc. will post 8.58 earnings per share for the current year.

QCR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Friday, September 18th were given a $0.15 dividend. This is a positive change from QCR’s previous quarterly dividend of $0.10. The ex-dividend date was Friday, September 18th. This represents a $0.60 annualized dividend and a yield of 0.6%. QCR’s payout ratio is currently 7.05%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on QCRH shares. Piper Sandler reissued an “overweight” rating and set a $123.00 price target (up from $107.00) on shares of QCR in a research report on Monday, July 27th. DA Davidson boosted their target price on shares of QCR from $97.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Raymond James Financial initiated coverage on shares of QCR in a research report on Thursday, October 1st. They issued an “outperform” rating and a $110.00 price target on the stock. Stephens initiated coverage on shares of QCR in a research report on Friday, September 18th. They issued an “equal weight” rating and a $107.00 price target on the stock. Finally, Keefe, Bruyette & Woods lifted their price target on shares of QCR from $105.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $110.60.

About QCR

QCR Holdings, Inc (NASDAQ: QCRH) is a bank holding company that provides commercial and consumer banking services through a group of community banking subsidiaries. Its offerings include business and consumer loans, deposit accounts, treasury management, mortgage lending, cash management, and related financial services.

The company serves businesses, individuals, families, and institutions in selected Midwestern markets. Its banking operations have a presence in eastern Iowa, the Quad Cities region of Iowa and Illinois, and communities in Missouri, with a focus on relationship-based commercial banking and local decision-making.

QCR Holdings traces its origins to the early 1990s and has expanded through the development and acquisition of community banks.