QCR Holdings, Inc. (QCRH) Shares Sold by Banc Funds Co. LLC
Banc Funds Co. LLC lessened its stake in shares of QCR Holdings, Inc. (NASDAQ:QCRH) by 7.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 485,128 shares of the bank’s stock after selling 40,000 shares during the period. QCR Holdings accounts for approximately 1.0% of Banc Funds Co. LLC’s investment portfolio, making the stock its 19th biggest position. Banc Funds Co. LLC owned approximately 3.68% of QCR Holdings worth $22,995,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Citigroup Inc. raised its position in shares of QCR Holdings by 142.1% during the 2nd quarter. Citigroup Inc. now owns 3,208 shares of the bank’s stock worth $152,000 after purchasing an additional 1,883 shares during the last quarter. Citadel Advisors LLC acquired a new position in shares of QCR Holdings during the 2nd quarter worth about $200,000. Busey Trust CO acquired a new position in shares of QCR Holdings during the 2nd quarter worth about $213,000. Principal Financial Group Inc. acquired a new position in shares of QCR Holdings during the 2nd quarter worth about $244,000. Finally, Parametric Portfolio Associates LLC acquired a new position in shares of QCR Holdings during the 2nd quarter worth about $343,000. Hedge funds and other institutional investors own 62.07% of the company’s stock.
In related news, EVP Cathie Whiteside sold 2,675 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $45.95, for a total value of $122,916.25. Following the completion of the sale, the executive vice president now owns 12,255 shares in the company, valued at $563,117.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Todd A. Gipple sold 5,920 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $43.00, for a total transaction of $254,560.00. Following the completion of the sale, the chief financial officer now owns 49,162 shares of the company’s stock, valued at approximately $2,113,966. The disclosure for this sale can be found here. Insiders sold 14,450 shares of company stock valued at $646,051 in the last quarter. Company insiders own 8.80% of the company’s stock.
QCR Holdings (NASDAQ:QCRH) last announced its quarterly earnings data on Thursday, July 20th. The bank reported $0.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.01). QCR Holdings had a net margin of 21.11% and a return on equity of 11.17%. The company had revenue of $34.83 million during the quarter, compared to analyst estimates of $36.49 million.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Friday, September 15th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Thursday, September 14th. QCR Holdings’s dividend payout ratio (DPR) is 8.23%.
QCRH has been the subject of several research analyst reports. ValuEngine upgraded shares of QCR Holdings from a “hold” rating to a “buy” rating in a research report on Monday, August 7th. Maxim Group restated a “buy” rating and set a $53.00 price target on shares of QCR Holdings in a research report on Thursday, June 15th. Keefe, Bruyette & Woods set a $52.00 price target on shares of QCR Holdings and gave the stock a “buy” rating in a research report on Saturday, July 22nd. Finally, BidaskClub downgraded shares of QCR Holdings from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $47.00.
QCR Holdings Profile
QCR Holdings, Inc is a multi-bank holding company. The Company serves the Quad Cities, Cedar Rapids, Waterloo/Cedar Falls, Des Moines/Ankeny and Rockford communities through its banking subsidiaries, Quad City Bank and Trust Company (QCBT), Cedar Rapids Bank and Trust Company (CRBT), Community State Bank (CSB), and Rockford Bank and Trust Company (RB&T), which provide full-service commercial and consumer banking and trust and asset management services.
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