Wedge Capital Management L L P NC Has $6.40 Million Position in QCR Holdings, Inc. (QCRH)
Wedge Capital Management L L P NC lifted its position in shares of QCR Holdings, Inc. (NASDAQ:QCRH) by 5.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 149,388 shares of the bank’s stock after buying an additional 8,180 shares during the quarter. Wedge Capital Management L L P NC’s holdings in QCR were worth $6,401,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. lifted its stake in QCR by 23.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 22,062 shares of the bank’s stock worth $1,046,000 after purchasing an additional 4,200 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in QCR by 5.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 67,856 shares of the bank’s stock worth $3,217,000 after purchasing an additional 3,545 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in QCR in the 2nd quarter worth $244,000. Alliancebernstein L.P. purchased a new stake in QCR in the 2nd quarter worth $389,000. Finally, Teachers Advisors LLC lifted its stake in QCR by 9.3% in the 2nd quarter. Teachers Advisors LLC now owns 21,586 shares of the bank’s stock worth $1,023,000 after purchasing an additional 1,843 shares in the last quarter. Institutional investors own 59.73% of the company’s stock.
In other news, CEO Douglas M. Hultquist sold 2,036 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $43.90, for a total value of $89,380.40. Following the sale, the chief executive officer now directly owns 77,404 shares in the company, valued at approximately $3,398,035.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Larry J. Helling sold 1,021 shares of the business’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $44.40, for a total transaction of $45,332.40. Following the completion of the sale, the chief executive officer now owns 11,180 shares in the company, valued at $496,392. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,854 shares of company stock worth $213,494. Insiders own 8.80% of the company’s stock.
QCR (NASDAQ:QCRH) last posted its earnings results on Thursday, February 1st. The bank reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.04. QCR had a net margin of 21.51% and a return on equity of 12.09%. The firm had revenue of $41.51 million for the quarter, compared to the consensus estimate of $39.74 million. research analysts anticipate that QCR Holdings, Inc. will post 3.22 earnings per share for the current year.
Several analysts have commented on QCRH shares. Maxim Group decreased their price target 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. Piper Jaffray Companies set a $52.00 price target on shares of QCR and gave the stock a “buy” rating in a research note on Monday. Stephens set a $53.00 price target on shares of QCR and gave the stock a “buy” rating in a research note on Monday. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $54.00 price target on shares of QCR in a research note on Friday, December 22nd. Finally, DA Davidson reiterated a “buy” rating and issued a $56.00 price target on shares of QCR in a research note on Wednesday, December 20th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. QCR currently has an average rating of “Buy” and an average target price of $53.60.
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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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