Waterfront Wealth Inc. Decreases Stock Holdings in QCR Holdings, Inc. (NASDAQ:QCRH)

Waterfront Wealth Inc. lessened its stake in shares of QCR Holdings, Inc. (NASDAQ:QCRH) by 11.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 6,074 shares of the bank’s stock after selling 780 shares during the quarter. Waterfront Wealth Inc.’s holdings in QCR were worth $355,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. FMR LLC lifted its position in QCR by 83.9% during the third quarter. FMR LLC now owns 1,502,724 shares of the bank’s stock valued at $72,912,000 after purchasing an additional 685,471 shares during the period. Teacher Retirement System of Texas purchased a new position in shares of QCR in the 3rd quarter worth $488,000. Brandywine Global Investment Management LLC grew its holdings in shares of QCR by 53.1% in the third quarter. Brandywine Global Investment Management LLC now owns 50,729 shares of the bank’s stock worth $2,461,000 after acquiring an additional 17,590 shares during the period. Assenagon Asset Management S.A. purchased a new stake in QCR during the fourth quarter valued at $1,734,000. Finally, Bank of New York Mellon Corp increased its position in QCR by 2.0% during the third quarter. Bank of New York Mellon Corp now owns 89,525 shares of the bank’s stock valued at $4,344,000 after acquiring an additional 1,715 shares during the last quarter. 70.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

QCRH has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their price target on QCR from $69.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Raymond James boosted their target price on shares of QCR from $60.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Finally, Piper Sandler increased their price target on shares of QCR from $67.00 to $74.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th.

Insider Activity at QCR

In other QCR news, CFO Todd A. Gipple sold 6,791 shares of the stock in a transaction on Friday, January 26th. The stock was sold at an average price of $61.00, for a total value of $414,251.00. Following the completion of the sale, the chief financial officer now owns 40,043 shares in the company, valued at approximately $2,442,623. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Larry J. Helling bought 1,000 shares of the stock in a transaction dated Monday, February 5th. The shares were purchased at an average price of $56.00 per share, with a total value of $56,000.00. Following the completion of the acquisition, the chief executive officer now owns 36,601 shares of the company’s stock, valued at $2,049,656. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Todd A. Gipple sold 6,791 shares of the company’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $61.00, for a total transaction of $414,251.00. Following the transaction, the chief financial officer now owns 40,043 shares of the company’s stock, valued at approximately $2,442,623. The disclosure for this sale can be found here. 3.50% of the stock is owned by corporate insiders.

QCR Stock Performance

Shares of NASDAQ QCRH traded up $0.52 during trading on Thursday, hitting $55.20. The company had a trading volume of 5,367 shares, compared to its average volume of 54,770. QCR Holdings, Inc. has a 12 month low of $35.14 and a 12 month high of $62.94. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market capitalization of $927.36 million, a P/E ratio of 8.12 and a beta of 0.95. The stock has a 50 day simple moving average of $57.14 and a 200 day simple moving average of $54.79.

QCR (NASDAQ:QCRH) last released its earnings results on Tuesday, January 23rd. The bank reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.61. QCR had a net margin of 20.80% and a return on equity of 13.78%. The company had revenue of $103.47 million during the quarter, compared to analyst estimates of $81.57 million. As a group, analysts anticipate that QCR Holdings, Inc. will post 5.64 earnings per share for the current year.

QCR Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Friday, March 15th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.24 annualized dividend and a dividend yield of 0.43%. QCR’s payout ratio is 3.57%.

QCR Company Profile

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