Summit Financial Strategies Inc. Cuts Stock Position in QCR Holdings, Inc. (NASDAQ:QCRH)

Summit Financial Strategies Inc. lessened its holdings in shares of QCR Holdings, Inc. (NASDAQ:QCRH) by 6.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,397 shares of the bank’s stock after selling 217 shares during the period. Summit Financial Strategies Inc.’s holdings in QCR were worth $251,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Inspire Investing LLC acquired a new stake in QCR in the third quarter valued at $818,000. CWM LLC raised its holdings in shares of QCR by 20.9% in the 3rd quarter. CWM LLC now owns 22,755 shares of the bank’s stock worth $1,685,000 after purchasing an additional 3,931 shares during the period. SG Americas Securities LLC purchased a new position in shares of QCR in the 3rd quarter worth about $158,000. Susquehanna Fundamental Investments LLC raised its holdings in shares of QCR by 71.1% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 5,784 shares of the bank’s stock valued at $347,000 after buying an additional 2,404 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of QCR by 13.0% during the 2nd quarter. AQR Capital Management LLC now owns 32,732 shares of the bank’s stock valued at $1,964,000 after buying an additional 3,769 shares during the period. Institutional investors and hedge funds own 70.01% of the company’s stock.

QCR Stock Performance

QCR stock traded down $0.28 during mid-day trading on Thursday, hitting $81.27. 8,388 shares of the company’s stock traded hands, compared to its average volume of 60,554. The firm has a 50 day moving average price of $74.25 and a 200 day moving average price of $65.12. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 0.82. The company has a market cap of $1.37 billion, a PE ratio of 12.15 and a beta of 0.94. QCR Holdings, Inc. has a one year low of $45.83 and a one year high of $81.85.

QCR (NASDAQ:QCRH) last posted its quarterly earnings data on Wednesday, July 24th. The bank reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.34. The company had revenue of $150.64 million for the quarter, compared to the consensus estimate of $82.20 million. QCR had a return on equity of 12.90% and a net margin of 19.37%. During the same quarter in the previous year, the business earned $1.69 EPS. On average, equities analysts forecast that QCR Holdings, Inc. will post 6.34 EPS for the current year.

QCR Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Friday, September 13th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend was Friday, September 13th. QCR’s payout ratio is 3.58%.

Wall Street Analyst Weigh In

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

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.