Wedge Capital Management L L P NC decreased its position in QCR Holdings (NASDAQ:QCRH) by 6.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,976 shares of the bank’s stock after selling 9,412 shares during the quarter. Wedge Capital Management L L P NC owned approximately 1.00% of QCR worth $6,278,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ramsey Quantitative Systems bought a new stake in shares of QCR in the 4th quarter worth $123,000. Stone Ridge Asset Management LLC bought a new stake in shares of QCR in the 4th quarter worth $232,000. MetLife Investment Advisors LLC bought a new stake in shares of QCR in the 4th quarter worth $249,000. Brandywine Global Investment Management LLC bought a new stake in shares of QCR in the 4th quarter worth $275,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of QCR in the 3rd quarter worth $428,000. Hedge funds and other institutional investors own 60.90% of the company’s stock.
QCRH has been the subject of several recent analyst reports. ValuEngine upgraded shares of QCR from a “hold” rating to a “buy” rating in a research note on Thursday, March 8th. Piper Jaffray set a $52.00 target price on shares of QCR and gave the stock a “buy” rating in a research note on Monday, February 5th. Stephens set a $53.00 target price on shares of QCR and gave the stock a “buy” rating in a research note on Monday, February 5th. Maxim Group reiterated a “buy” rating and issued a $53.00 target price on shares of QCR in a research note on Friday, February 2nd. Finally, BidaskClub upgraded shares of QCR from a “sell” rating to a “hold” rating in a research report on Tuesday, April 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. QCR currently has an average rating of “Buy” and an average target price of $53.60.
In related news, CEO John H. Anderson sold 3,697 shares of the stock in a transaction dated Wednesday, April 25th. The shares were sold at an average price of $47.56, for a total transaction of $175,829.32. Following the completion of the transaction, the chief executive officer now owns 5,407 shares in the company, valued at $257,156.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Douglas M. Hultquist sold 2,057 shares of the stock in a transaction dated Monday, April 16th. The shares were sold at an average price of $44.50, for a total transaction of $91,536.50. Following the transaction, the chief executive officer now owns 76,347 shares of the company’s stock, valued at approximately $3,397,441.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,768 shares of company stock valued at $404,146. 8.80% of the stock is owned by company insiders.
QCRH opened at $46.85 on Tuesday. The stock has a market cap of $646.60 million, a P/E ratio of 17.00, a P/E/G ratio of 1.40 and a beta of 0.41. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.95 and a quick ratio of 0.95. QCR Holdings has a fifty-two week low of $39.85 and a fifty-two week high of $50.00.
QCR (NASDAQ:QCRH) last posted its quarterly earnings results on Wednesday, April 18th. The bank reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.04. The company had revenue of $40.94 million during the quarter, compared to analyst estimates of $40.39 million. QCR had a net margin of 21.13% and a return on equity of 11.82%. analysts predict that QCR Holdings will post 3.32 earnings per share for the current year.
QCR Holdings, Inc, a multi-bank holding company, provides commercial and consumer banking, and trust and asset management services. The company operates through Commercial Banking and Wealth Management segments. Its deposit products include noninterest and interest-bearing demand, time, and brokered time deposits.
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