Assenagon Asset Management S.A. Sells 18,159 Shares of QCR Holdings, Inc. (NASDAQ:QCRH)

Assenagon Asset Management S.A. trimmed its position in QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 59.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,247 shares of the bank's stock after selling 18,159 shares during the period. Assenagon Asset Management S.A. owned approximately 0.07% of QCR worth $735,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in QCR by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,025,967 shares of the bank's stock worth $59,907,000 after purchasing an additional 24,251 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in QCR by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 131,470 shares of the bank's stock worth $7,677,000 after purchasing an additional 2,956 shares in the last quarter. Empowered Funds LLC increased its holdings in QCR by 8.0% during the 1st quarter. Empowered Funds LLC now owns 56,491 shares of the bank's stock worth $3,431,000 after purchasing an additional 4,200 shares in the last quarter. Comerica Bank increased its holdings in QCR by 3.4% during the 1st quarter. Comerica Bank now owns 28,266 shares of the bank's stock worth $1,717,000 after purchasing an additional 938 shares in the last quarter. Finally, Denali Advisors LLC increased its holdings in QCR by 111.4% during the 1st quarter. Denali Advisors LLC now owns 18,600 shares of the bank's stock worth $1,130,000 after purchasing an additional 9,800 shares in the last quarter. 70.01% of the stock is owned by institutional investors.

QCR Stock Performance

Shares of NASDAQ QCRH traded up $4.49 during midday trading on Friday, reaching $76.46. The company's stock had a trading volume of 92,199 shares, compared to its average volume of 59,231. QCR Holdings, Inc. has a 12-month low of $45.83 and a 12-month high of $79.61. The firm has a 50 day moving average price of $66.15 and a 200-day moving average price of $60.34. The stock has a market capitalization of $1.29 billion, a P/E ratio of 11.39 and a beta of 0.96. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.04 and a quick ratio of 1.00.

QCR (NASDAQ:QCRH - Get Free Report) last announced its earnings results on Wednesday, July 24th. The bank reported $1.73 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.34. QCR had a return on equity of 12.90% and a net margin of 19.37%. The firm had revenue of $150.64 million for the quarter, compared to the consensus estimate of $82.20 million. During the same quarter in the previous year, the business earned $1.69 EPS. As a group, equities analysts predict that QCR Holdings, Inc. will post 6.33 earnings per share for the current year.

QCR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Friday, September 13th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.24 annualized dividend and a yield of 0.31%. QCR's payout ratio is 3.58%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods restated an "outperform" rating and issued a $82.00 target price (up previously from $70.00) on shares of QCR in a research note 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.