Wedge Capital Management L L P NC lowered its holdings in QCR Holdings, Inc. (NASDAQ:QCRH) by 2.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 127,583 shares of the bank’s stock after selling 2,853 shares during the period. Wedge Capital Management L L P NC owned approximately 0.81% of QCR worth $5,212,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Employees Retirement System of Texas purchased a new stake in shares of QCR in the second quarter valued at $1,186,000. Swiss National Bank lifted its holdings in shares of QCR by 10.0% in the second quarter. Swiss National Bank now owns 24,139 shares of the bank’s stock valued at $1,145,000 after purchasing an additional 2,200 shares in the last quarter. BKD Wealth Advisors LLC purchased a new stake in shares of QCR in the third quarter valued at $771,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of QCR by 12.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 66,563 shares of the bank’s stock valued at $3,159,000 after purchasing an additional 7,281 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of QCR by 22.0% in the second quarter. Dimensional Fund Advisors LP now owns 447,660 shares of the bank’s stock valued at $21,242,000 after purchasing an additional 80,850 shares in the last quarter. Institutional investors own 57.36% of the company’s stock.
In other news, CEO Thomas D. Budd sold 824 shares of the company’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $43.00, for a total value of $35,432.00. Following the transaction, the chief executive officer now directly owns 2,116 shares of the company’s stock, valued at $90,988. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 8.80% of the company’s stock.
QCR (NASDAQ:QCRH) last posted its quarterly earnings results on Monday, October 29th. The bank reported $0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.22). QCR had a return on equity of 11.59% and a net margin of 19.46%. The company had revenue of $47.12 million during the quarter, compared to analyst estimates of $45.06 million. On average, sell-side analysts predict that QCR Holdings, Inc. will post 3.04 EPS for the current year.
A number of research firms have recently issued reports on QCRH. BidaskClub upgraded QCR from a “strong sell” rating to a “sell” rating in a report on Saturday, November 3rd. Piper Jaffray Companies set a $45.00 target price on QCR and gave the company a “buy” rating in a report on Thursday, November 1st. Raymond James reduced their target price on QCR from $49.00 to $44.00 and set an “outperform” rating for the company in a report on Wednesday, October 31st. Finally, ValuEngine raised shares of QCR from a “strong sell” rating to a “sell” rating in a research note on Monday, October 29th. Two analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. QCR has a consensus rating of “Buy” and a consensus target price of $50.83.
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QCR Holdings, Inc, a multi-bank holding company, provides commercial and consumer banking, and trust and asset management services. The company operates through Commercial Banking and Wealth Management segments. Its deposit products include noninterest and interest-bearing demand, time, and brokered time deposits.
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