TIAA CREF Investment Management LLC Holds Stake in QCR Holdings, Inc. (QCRH)
TIAA CREF Investment Management LLC maintained its position in shares of QCR Holdings, Inc. (NASDAQ:QCRH) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,400 shares of the bank’s stock at the end of the second quarter. TIAA CREF Investment Management LLC owned approximately 0.33% of QCR Holdings worth $2,057,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in QCRH. Kennedy Capital Management Inc. acquired a new position in shares of QCR Holdings in the second quarter valued at approximately $5,760,000. Wedge Capital Management L L P NC acquired a new position in shares of QCR Holdings in the second quarter valued at approximately $4,119,000. AJO LP boosted its holdings in shares of QCR Holdings by 507.5% in the second quarter. AJO LP now owns 88,437 shares of the bank’s stock valued at $4,192,000 after buying an additional 73,879 shares during the period. Bowling Portfolio Management LLC acquired a new position in shares of QCR Holdings in the second quarter valued at approximately $746,000. Finally, Municipal Employees Retirement System of Michigan acquired a new position in shares of QCR Holdings in the second quarter valued at approximately $723,000. Institutional investors own 61.63% of the company’s stock.
Shares of QCR Holdings, Inc. (NASDAQ QCRH) opened at 47.75 on Wednesday. The stock has a 50 day moving average of $46.53 and a 200-day moving average of $45.75. QCR Holdings, Inc. has a 12 month low of $32.40 and a 12 month high of $50.00. The company has a market cap of $629.39 million, a price-to-earnings ratio of 19.64 and a beta of 0.61.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 4th. Investors of record on Friday, September 15th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.42%. The ex-dividend date was Thursday, September 14th. QCR Holdings’s payout ratio is currently 8.23%.
Several research analysts have recently weighed in on QCRH shares. Piper Jaffray Companies set a $55.00 price target on shares of QCR Holdings and gave the company a “buy” rating in a report on Friday, October 6th. Keefe, Bruyette & Woods set a $52.00 price target on shares of QCR Holdings and gave the company a “buy” rating in a report on Saturday, July 22nd. ValuEngine upgraded shares of QCR Holdings from a “hold” rating to a “buy” rating in a report on Monday, August 7th. Finally, BidaskClub cut shares of QCR Holdings from a “buy” rating to a “hold” rating in a report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $53.33.
In related news, CFO Todd A. Gipple sold 5,920 shares of QCR Holdings stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $43.00, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Cathie Whiteside sold 5,000 shares of QCR Holdings stock in a transaction on Monday, August 7th. The shares were sold at an average price of $46.23, for a total transaction of $231,150.00. Following the completion of the sale, the executive vice president now directly owns 17,255 shares of the company’s stock, valued at approximately $797,698.65. The disclosure for this sale can be found here. In the last three months, insiders sold 11,775 shares of company stock valued at $523,135. 8.80% of the stock is currently owned by insiders.
QCR Holdings Company 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), Rockford Bank and Trust Company (RB&T), and Guaranty Bank and Trust Company, which provide full-service commercial and consumer banking and trust and asset management services.
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