Summit Global Investments Sells 607 Shares of QCR Holdings, Inc. (NASDAQ:QCRH)

Summit Global Investments cut its stake in shares of QCR Holdings, Inc. (NASDAQ:QCRH) by 17.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,919 shares of the bank’s stock after selling 607 shares during the quarter. Summit Global Investments’ holdings in QCR were worth $235,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its stake in shares of QCR by 3.4% in the third quarter. State Street Corp now owns 481,809 shares of the bank’s stock worth $35,696,000 after acquiring an additional 16,006 shares during the period. JPMorgan Chase & Co. lifted its position in shares of QCR by 10.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 421,843 shares of the bank’s stock worth $31,229,000 after purchasing an additional 41,043 shares during the period. Geode Capital Management LLC boosted its stake in shares of QCR by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 401,193 shares of the bank’s stock valued at $29,706,000 after purchasing an additional 4,179 shares during the last quarter. Wellington Management Group LLP increased its position in shares of QCR by 5.0% during the third quarter. Wellington Management Group LLP now owns 253,452 shares of the bank’s stock worth $18,763,000 after buying an additional 12,052 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in QCR by 6.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 145,990 shares of the bank’s stock worth $11,773,000 after buying an additional 9,292 shares during the last quarter. Institutional investors own 70.01% of the company’s stock.

Insider Activity

In other news, insider James D. Klein sold 630 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $73.40, for a total value of $46,242.00. Following the completion of the sale, the insider now directly owns 428 shares in the company, valued at $31,415.20. This trade represents a 59.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Nicole A. Lee bought 1,094 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The stock was purchased at an average cost of $78.47 per share, with a total value of $85,846.18. Following the completion of the transaction, the executive vice president now directly owns 1,881 shares in the company, valued at $147,602.07. This represents a 139.01 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.70% of the stock is currently owned by company insiders.

QCR Price Performance

QCRH stock opened at $72.85 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.67. The company’s fifty day simple moving average is $76.20 and its 200 day simple moving average is $79.88. QCR Holdings, Inc. has a 12-month low of $54.37 and a 12-month high of $96.08. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 10.86 and a beta of 0.98.

QCR (NASDAQ:QCRH) last announced its earnings results on Wednesday, January 22nd. The bank reported $1.93 EPS for the quarter, beating the consensus estimate of $1.74 by $0.19. QCR had a return on equity of 12.68% and a net margin of 19.06%. On average, analysts expect that QCR Holdings, Inc. will post 6.82 earnings per share for the current year.

QCR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, March 19th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend is Wednesday, March 19th. QCR’s dividend payout ratio (DPR) is 3.58%.

About QCR

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.