QCR (NASDAQ:QCRH) Cut to Hold at StockNews.com

StockNews.com downgraded shares of QCR (NASDAQ:QCRHGet Rating) from a buy rating to a hold rating in a report issued on Monday.

QCRH has been the subject of several other reports. DA Davidson reduced their price objective on QCR to $61.00 in a report on Tuesday, November 1st. Raymond James reduced their price objective on QCR from $67.00 to $58.00 and set an outperform rating for the company in a report on Monday, October 31st. Finally, Piper Sandler reduced their price objective on QCR to $64.50 in a report on Tuesday, November 1st.

QCR Price Performance

Shares of NASDAQ QCRH opened at $52.16 on Monday. The stock has a fifty day simple moving average of $52.52 and a two-hundred day simple moving average of $54.42. QCR has a 1-year low of $47.23 and a 1-year high of $62.85. The firm has a market cap of $880.46 million, a price-to-earnings ratio of 9.02 and a beta of 0.95. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.84.

QCR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 5th. Stockholders of record on Friday, December 16th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Thursday, December 15th. QCR’s payout ratio is currently 4.15%.

Insider Transactions at QCR

In related news, Director Brent R. Cobb purchased 4,000 shares of the business’s stock in a transaction dated Monday, November 7th. The stock was purchased at an average cost of $49.85 per share, with a total value of $199,400.00. Following the completion of the acquisition, the director now directly owns 25,407 shares of the company’s stock, valued at $1,266,538.95. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other QCR news, Director Brent R. Cobb acquired 4,000 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The stock was bought at an average price of $49.85 per share, with a total value of $199,400.00. Following the completion of the purchase, the director now owns 25,407 shares of the company’s stock, valued at $1,266,538.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John F. Griesemer acquired 4,500 shares of the company’s stock in a transaction that occurred on Thursday, November 3rd. The shares were acquired at an average cost of $48.08 per share, with a total value of $216,360.00. Following the purchase, the director now directly owns 23,598 shares of the company’s stock, valued at approximately $1,134,591.84. The disclosure for this purchase can be found here. Insiders purchased 8,618 shares of company stock valued at $422,287 over the last three months. Company insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On QCR

Several large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC bought a new stake in QCR during the third quarter valued at $332,000. Alliancebernstein L.P. raised its position in QCR by 0.3% during the third quarter. Alliancebernstein L.P. now owns 164,591 shares of the bank’s stock valued at $8,384,000 after purchasing an additional 568 shares in the last quarter. Prelude Capital Management LLC raised its position in QCR by 3.0% during the third quarter. Prelude Capital Management LLC now owns 32,014 shares of the bank’s stock valued at $1,631,000 after purchasing an additional 946 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in QCR by 6.0% during the third quarter. Price T Rowe Associates Inc. MD now owns 17,114 shares of the bank’s stock valued at $873,000 after purchasing an additional 968 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in QCR during the third quarter valued at about $532,000. Institutional investors own 70.49% of the company’s stock.

QCR Company Profile

(Get Rating)

QCR Holdings, Inc, a multi-bank holding company, provides commercial and consumer banking, and trust and asset management services. Its deposit products include noninterest-bearing demand, interest-bearing demand, time, and brokered deposits. The company also provides various commercial and retail lending/leasing, and investment services to corporations, partnerships, individuals, and government agencies.

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