Pinnacle Holdings LLC Sells 73,842 Shares of QCR Holdings, Inc. (NASDAQ:QCRH)

Pinnacle Holdings LLC lessened its holdings in QCR Holdings, Inc. (NASDAQ:QCRH - Free Report) by 97.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,222 shares of the bank's stock after selling 73,842 shares during the quarter. Pinnacle Holdings LLC's holdings in QCR were worth $179,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its stake in QCR by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 136,698 shares of the bank's stock valued at $10,120,000 after acquiring an additional 2,328 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of QCR by 30.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,372 shares of the bank's stock worth $324,000 after purchasing an additional 1,012 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of QCR during the third quarter worth $54,000. Point72 DIFC Ltd bought a new stake in QCR in the third quarter valued at about $65,000. Finally, State Street Corp boosted its holdings in QCR by 3.4% during the third quarter. State Street Corp now owns 481,809 shares of the bank's stock worth $35,696,000 after buying an additional 16,006 shares during the last quarter. Institutional investors and hedge funds own 70.01% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Raymond James lowered their price target on QCR from $95.00 to $82.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd.

Remove Ads

QCR Stock Down 0.6 %

Shares of NASDAQ:QCRH traded down $0.39 during trading on Friday, hitting $63.60. 78,196 shares of the company's stock traded hands, compared to its average volume of 72,036. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.67. The company has a 50-day moving average price of $72.84 and a 200-day moving average price of $79.13. QCR Holdings, Inc. has a 52 week low of $54.37 and a 52 week high of $96.08. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 9.48 and a beta of 0.81.

QCR (NASDAQ:QCRH - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.93 EPS for the quarter, topping analysts' consensus estimates of $1.74 by $0.19. QCR had a net margin of 19.06% and a return on equity of 12.68%. As a group, research analysts forecast that QCR Holdings, Inc. will post 6.82 EPS for the current fiscal year.

QCR Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Wednesday, March 19th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $0.24 annualized dividend and a dividend yield of 0.38%. QCR's dividend payout ratio is currently 3.58%.

Insider Buying and Selling

In other news, insider James D. Klein sold 630 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $73.40, for a total transaction of $46,242.00. Following the completion of the transaction, the insider now directly owns 428 shares in the company, valued at $31,415.20. This represents a 59.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Nicole A. Lee acquired 1,094 shares of the firm's stock in a transaction dated Wednesday, January 29th. The stock was bought at an average price of $78.47 per share, with a total value of $85,846.18. Following the acquisition, 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 owned by corporate insiders.

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.