Franklin Resources Inc. Trims Stake in QCR Holdings, Inc. $QCRH

Franklin Resources Inc. decreased its holdings in shares of QCR Holdings, Inc. (NASDAQ:QCRH) by 83.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,671 shares of the bank’s stock after selling 54,586 shares during the quarter. Franklin Resources Inc.’s holdings in QCR were worth $725,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Raymond James Financial Inc. lifted its position in shares of QCR by 24.8% during the first quarter. Raymond James Financial Inc. now owns 61,603 shares of the bank’s stock worth $4,394,000 after purchasing an additional 12,256 shares during the last quarter. Strs Ohio purchased a new position in QCR in the 1st quarter worth about $642,000. Royal Bank of Canada increased its stake in QCR by 22.5% in the 1st quarter. Royal Bank of Canada now owns 144,589 shares of the bank’s stock worth $10,312,000 after buying an additional 26,567 shares during the period. Vanguard Group Inc. lifted its holdings in QCR by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 952,780 shares of the bank’s stock valued at $67,952,000 after buying an additional 7,002 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in QCR by 93.3% in the 1st quarter. Deutsche Bank AG now owns 26,738 shares of the bank’s stock valued at $1,907,000 after buying an additional 12,907 shares during the period. 70.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on QCRH shares. Raymond James Financial reaffirmed an “outperform” rating and set a $88.00 target price (up from $85.00) on shares of QCR in a research report on Monday, October 27th. DA Davidson reissued a “neutral” rating and issued a $83.00 price objective on shares of QCR in a research note on Thursday, October 9th. Zacks Research upgraded QCR from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. Piper Sandler lifted their target price on QCR from $92.50 to $97.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of QCR in a report on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $90.00.

QCR Stock Performance

Shares of QCRH stock opened at $85.74 on Monday. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 11.97 and a beta of 0.85. QCR Holdings, Inc. has a 52-week low of $60.83 and a 52-week high of $91.49. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. The company’s 50 day moving average is $76.32 and its 200 day moving average is $73.95.

QCR (NASDAQ:QCRH) last announced its earnings results on Friday, November 7th. The bank reported $2.17 earnings per share (EPS) for the quarter. QCR had a return on equity of 12.04% and a net margin of 20.64%.The business had revenue of $101.45 million for the quarter. On average, sell-side analysts anticipate that QCR Holdings, Inc. will post 6.82 EPS for the current fiscal year.

QCR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 7th. Shareholders of record on Tuesday, December 23rd will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.3%. The ex-dividend date is Tuesday, December 23rd. QCR’s payout ratio is 3.35%.

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.