Thrivent Financial for Lutherans grew its holdings in QCR Holdings (NASDAQ:QCRH) by 83.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 103,767 shares of the bank’s stock after buying an additional 47,343 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.74% of QCR worth $4,654,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ramsey Quantitative Systems purchased a new stake in QCR in the 4th quarter worth approximately $123,000. Wells Fargo & Company MN raised its position in shares of QCR by 19.4% in the 4th quarter. Wells Fargo & Company MN now owns 23,790 shares of the bank’s stock worth $1,019,000 after acquiring an additional 3,869 shares in the last quarter. Allianz Asset Management GmbH raised its position in shares of QCR by 4.2% in the 4th quarter. Allianz Asset Management GmbH now owns 37,114 shares of the bank’s stock worth $1,591,000 after acquiring an additional 1,510 shares in the last quarter. BlackRock Inc. raised its position in shares of QCR by 0.4% in the 4th quarter. BlackRock Inc. now owns 974,529 shares of the bank’s stock worth $41,760,000 after acquiring an additional 4,155 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of QCR by 6.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 54,827 shares of the bank’s stock worth $2,350,000 after acquiring an additional 3,382 shares in the last quarter. Institutional investors and hedge funds own 62.86% of the company’s stock.
In related news, CEO Larry J. Helling sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, April 23rd. The stock was sold at an average price of $47.50, for a total transaction of $47,500.00. Following the completion of the transaction, the chief executive officer now owns 10,504 shares of the company’s stock, valued at approximately $498,940. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Douglas M. Hultquist sold 2,057 shares of the firm’s stock in a transaction that occurred on Monday, April 16th. The shares were sold at an average price of $44.50, for a total value of $91,536.50. Following the transaction, the chief executive officer now directly 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 ninety days, insiders have sold 11,953 shares of company stock valued at $554,566. 8.80% of the stock is owned by corporate insiders.
QCR (NASDAQ:QCRH) last announced its earnings results on Wednesday, April 18th. The bank reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.04. QCR had a return on equity of 11.45% and a net margin of 21.13%. The firm had revenue of $40.94 million during the quarter, compared to analyst estimates of $40.39 million. equities research analysts forecast that QCR Holdings will post 3.32 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 5th. Investors of record on Friday, June 15th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Thursday, June 14th. QCR’s dividend payout ratio (DPR) is presently 9.02%.
Several brokerages have recently issued reports on QCRH. BidaskClub raised QCR from a “sell” rating to a “hold” rating in a research report on Wednesday, May 9th. ValuEngine raised QCR from a “hold” rating to a “buy” rating in a research report on Thursday, March 8th. Maxim Group reissued a “buy” rating and issued a $53.00 target price on shares of QCR in a research report on Friday, February 2nd. Piper Jaffray Companies set a $52.00 target price on QCR and gave the stock a “buy” rating in a research report on Monday, February 5th. Finally, Stephens set a $53.00 target price on QCR and gave the stock a “buy” rating in a research report on Monday, February 5th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. QCR currently has a consensus rating of “Buy” and an average price target of $53.60.
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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