Cornercap Investment Counsel Inc. Decreases Stake in QCR Holdings, Inc. (NASDAQ:QCRH)

Cornercap Investment Counsel Inc. lowered its position in QCR Holdings, Inc. (NASDAQ:QCRH) by 51.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 4,490 shares of the bank’s stock after selling 4,814 shares during the period. Cornercap Investment Counsel Inc.’s holdings in QCR were worth $332,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in QCR during the 2nd quarter valued at about $35,000. Lazard Asset Management LLC purchased a new position in shares of QCR during the first quarter worth about $43,000. New York State Teachers Retirement System purchased a new position in shares of QCR during the third quarter worth about $111,000. SG Americas Securities LLC purchased a new position in shares of QCR during the first quarter worth about $116,000. Finally, Summit Global Investments purchased a new position in shares of QCR during the third quarter worth about $261,000. Hedge funds and other institutional investors own 70.01% of the company’s stock.

QCR Stock Performance

NASDAQ:QCRH opened at $89.89 on Monday. The business has a 50 day moving average of $78.71 and a 200 day moving average of $69.23. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 13.05 and a beta of 0.93. QCR Holdings, Inc. has a 1-year low of $49.47 and a 1-year high of $93.72. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.02 and a quick ratio of 1.00.

QCR (NASDAQ:QCRH) last released its earnings results on Wednesday, October 23rd. The bank reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.29. The company had revenue of $152.58 million during the quarter, compared to the consensus estimate of $84.00 million. QCR had a return on equity of 12.92% and a net margin of 19.25%. During the same quarter in the previous year, the company posted $1.51 EPS. On average, sell-side analysts predict that QCR Holdings, Inc. will post 6.73 earnings per share for the current fiscal year.

QCR Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Friday, September 13th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.24 dividend on an annualized basis and a yield of 0.27%. QCR’s payout ratio is 3.48%.

Insider Buying and Selling

In other QCR news, CAO Nick W. Anderson sold 675 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $81.93, for a total value of $55,302.75. Following the completion of the sale, the chief accounting officer now owns 782 shares in the company, valued at approximately $64,069.26. The trade was a 46.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $82.00 price objective (up previously from $70.00) on shares of QCR in a report on Monday, July 29th.

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.