Russell Investments Group Ltd. Boosts Position in QCR Holdings, Inc. (QCRH)
Russell Investments Group Ltd. increased its holdings in QCR Holdings, Inc. (NASDAQ:QCRH) by 48.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,082 shares of the bank’s stock after buying an additional 10,543 shares during the quarter. Russell Investments Group Ltd. owned 0.24% of QCR worth $1,459,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Citigroup Inc. raised its stake in QCR by 142.1% during the 2nd quarter. Citigroup Inc. now owns 3,208 shares of the bank’s stock worth $152,000 after acquiring an additional 1,883 shares during the period. Citadel Advisors LLC bought a new stake in QCR during the 2nd quarter worth approximately $200,000. Voya Investment Management LLC bought a new stake in QCR during the 2nd quarter worth approximately $224,000. Principal Financial Group Inc. bought a new stake in QCR during the 2nd quarter worth approximately $244,000. Finally, Parametric Portfolio Associates LLC bought a new stake in QCR during the 2nd quarter worth approximately $343,000. 59.71% of the stock is currently owned by institutional investors.
In other news, CEO Larry J. Helling sold 1,021 shares of QCR stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $44.40, for a total transaction of $45,332.40. Following the sale, the chief executive officer now owns 11,180 shares in the company, valued at $496,392. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Patrick Baird sold 800 shares of QCR stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $43.23, for a total transaction of $34,584.00. Following the sale, the director now owns 52,722 shares in the company, valued at approximately $2,279,172.06. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,818 shares of company stock worth $124,113. Company insiders own 8.80% of the company’s stock.
Shares of QCR Holdings, Inc. (NASDAQ:QCRH) opened at $43.65 on Wednesday. The stock has a market cap of $609.03, a P/E ratio of 17.12, a PEG ratio of 1.66 and a beta of 0.54. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.93. QCR Holdings, Inc. has a 1 year low of $39.85 and a 1 year high of $50.00.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Friday, December 15th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Thursday, December 14th. QCR’s payout ratio is currently 7.84%.
A number of equities research analysts have commented on QCRH shares. Piper Jaffray Companies set a $55.00 target price on shares of QCR and gave the stock a “buy” rating in a research note on Friday, October 6th. Maxim Group decreased their target price on shares of QCR from $53.00 to $51.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $54.00 price objective on shares of QCR in a research report on Friday, December 22nd. DA Davidson reiterated a “buy” rating and set a $56.00 price objective on shares of QCR in a research report on Wednesday, December 20th. Finally, ValuEngine cut shares of QCR from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $54.00.
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QCR 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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