Wedge Capital Management L L P NC lowered its holdings in shares of QCR Holdings, Inc. (NASDAQ:QCRH) by 2.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 94,127 shares of the bank’s stock after selling 2,744 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.60% of QCR worth $3,575,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of QCRH. CWM LLC increased its stake in QCR by 2,981.0% during the third quarter. CWM LLC now owns 647 shares of the bank’s stock worth $25,000 after purchasing an additional 626 shares during the period. Bank of Montreal Can purchased a new stake in shares of QCR during the 2nd quarter valued at about $43,000. JPMorgan Chase & Co. raised its holdings in shares of QCR by 25.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,053 shares of the bank’s stock valued at $140,000 after buying an additional 820 shares during the period. Citadel Advisors LLC purchased a new stake in shares of QCR during the 2nd quarter valued at about $316,000. Finally, UMB Bank N A MO purchased a new stake in shares of QCR during the 2nd quarter valued at about $388,000. Institutional investors own 60.10% of the company’s stock.
Several equities research analysts have issued reports on QCRH shares. BidaskClub upgraded QCR from a “strong sell” rating to a “sell” rating in a report on Thursday, September 12th. Stephens set a $45.00 price objective on QCR and gave the stock a “buy” rating in a report on Friday, October 25th. Zacks Investment Research downgraded QCR from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, ValuEngine upgraded QCR from a “strong sell” rating to a “sell” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. QCR has a consensus rating of “Hold” and an average target price of $42.00.
QCRH stock opened at $41.75 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.42. QCR Holdings, Inc. has a 52-week low of $30.15 and a 52-week high of $42.40. The stock’s 50 day moving average is $38.84 and its two-hundred day moving average is $35.90. The company has a market capitalization of $655.80 million, a PE ratio of 13.56 and a beta of 0.82.
QCR (NASDAQ:QCRH) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.04. QCR had a return on equity of 11.77% and a net margin of 19.58%. The business had revenue of $60.63 million during the quarter, compared to the consensus estimate of $54.10 million. As a group, sell-side analysts anticipate that QCR Holdings, Inc. will post 3.59 EPS for the current year.
QCR Company Profile
QCR Holdings, Inc, a multi-bank holding company, provides commercial and consumer banking, and trust and asset management services. The company operates through Commercial Banking and Wealth Management segments. Its deposit products include noninterest and interest-bearing demand, time, and brokered time deposits.
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