Millennium Management LLC Acquires 19,472 Shares of QCR Holdings, Inc. (NASDAQ:QCRH)

Millennium Management LLC increased its holdings in shares of QCR Holdings, Inc. (NASDAQ:QCRH) by 79.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 43,905 shares of the bank’s stock after acquiring an additional 19,472 shares during the quarter. Millennium Management LLC’s holdings in QCR were worth $3,540,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. JPMorgan Chase & Co. grew its stake in QCR by 10.3% during the fourth quarter. JPMorgan Chase & Co. now owns 465,282 shares of the bank’s stock worth $37,520,000 after buying an additional 43,439 shares in the last quarter. Geode Capital Management LLC raised its holdings in QCR by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 402,487 shares of the bank’s stock worth $32,464,000 after purchasing an additional 1,294 shares during the last quarter. American Century Companies Inc. raised its holdings in QCR by 10.5% during the 4th quarter. American Century Companies Inc. now owns 387,702 shares of the bank’s stock worth $31,264,000 after purchasing an additional 36,930 shares during the last quarter. Bridgeway Capital Management LLC raised its holdings in QCR by 41.0% during the 4th quarter. Bridgeway Capital Management LLC now owns 176,267 shares of the bank’s stock worth $14,214,000 after purchasing an additional 51,240 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of QCR by 4.2% in the 4th quarter. Northern Trust Corp now owns 153,658 shares of the bank’s stock valued at $12,391,000 after acquiring an additional 6,191 shares in the last quarter. 70.01% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider James D. Klein sold 630 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $73.40, for a total value of $46,242.00. Following the transaction, the insider now directly owns 428 shares in the company, valued at approximately $31,415.20. This represents a 59.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Larry J. Helling acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, April 28th. The stock was bought at an average price of $64.53 per share, for a total transaction of $64,530.00. Following the completion of the transaction, the chief executive officer now owns 40,264 shares of the company’s stock, valued at $2,598,235.92. The trade was a 2.55% increase in their position. The disclosure for this purchase can be found here. 3.70% of the stock is owned by company insiders.

QCR Trading Down 0.2%

Shares of QCRH opened at $67.77 on Friday. The business’s 50-day moving average price is $67.59 and its 200-day moving average price is $76.40. QCR Holdings, Inc. has a twelve month low of $54.75 and a twelve month high of $96.08. The stock has a market cap of $1.15 billion, a PE ratio of 10.10 and a beta of 0.80. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.67.

QCR (NASDAQ:QCRH) last announced its quarterly earnings results on Tuesday, April 22nd. The bank reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.01. The firm had revenue of $76.88 million for the quarter, compared to analysts’ expectations of $94.01 million. QCR had a return on equity of 12.68% and a net margin of 19.06%. During the same period in the prior year, the business posted $1.59 earnings per share. On average, equities analysts forecast that QCR Holdings, Inc. will post 6.82 EPS for the current fiscal year.

QCR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 18th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.35%. The ex-dividend date is Wednesday, June 18th. QCR’s dividend payout ratio (DPR) is 3.61%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Wall Street Zen upgraded shares of QCR from a “sell” rating to a “hold” rating in a research note on Friday. Keefe, Bruyette & Woods dropped their price objective on shares of QCR from $99.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Piper Sandler dropped their price objective on shares of QCR from $98.00 to $88.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Finally, Raymond James set a $78.00 price target on QCR and gave the company an “outperform” rating in a research report on Thursday, April 24th.

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.