Waterfront Wealth Inc. Has $355,000 Stock Holdings in QCR Holdings, Inc. (NASDAQ:QCRH)

Waterfront Wealth Inc. trimmed its position in QCR Holdings, Inc. (NASDAQ:QCRH) by 11.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,074 shares of the bank’s stock after selling 780 shares during the quarter. Waterfront Wealth Inc.’s holdings in QCR were worth $355,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in QCR by 83.9% during the 3rd quarter. FMR LLC now owns 1,502,724 shares of the bank’s stock worth $72,912,000 after acquiring an additional 685,471 shares during the period. JPMorgan Chase & Co. increased its stake in QCR by 93.1% in the fourth quarter. JPMorgan Chase & Co. now owns 278,386 shares of the bank’s stock valued at $13,819,000 after purchasing an additional 134,236 shares in the last quarter. EJF Capital LLC boosted its position in shares of QCR by 44.7% during the first quarter. EJF Capital LLC now owns 265,063 shares of the bank’s stock worth $15,000,000 after purchasing an additional 81,945 shares in the last quarter. BlackRock Inc. increased its position in shares of QCR by 5.0% in the 2nd quarter. BlackRock Inc. now owns 1,352,693 shares of the bank’s stock valued at $55,501,000 after buying an additional 64,005 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in QCR by 24.0% during the first quarter. The Manufacturers Life Insurance Company now owns 329,385 shares of the bank’s stock worth $18,640,000 after acquiring an additional 63,712 shares in the last quarter. 70.01% of the stock is owned by institutional investors.

QCR Stock Up 1.0 %

Shares of NASDAQ:QCRH traded up $0.52 during midday trading on Thursday, hitting $55.20. The stock had a trading volume of 5,367 shares, compared to its average volume of 54,770. The company has a market cap of $927.36 million, a P/E ratio of 8.12 and a beta of 0.95. QCR Holdings, Inc. has a 12 month low of $35.14 and a 12 month high of $62.94. The business’s 50-day simple moving average is $57.14 and its 200-day simple moving average is $54.79. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.81.

QCR (NASDAQ:QCRH) last announced its quarterly earnings results on Tuesday, January 23rd. The bank reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.61. The firm had revenue of $103.47 million during the quarter, compared to analysts’ expectations of $81.57 million. QCR had a net margin of 20.80% and a return on equity of 13.78%. On average, sell-side analysts forecast that QCR Holdings, Inc. will post 5.64 earnings per share for the current fiscal year.

QCR Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Friday, March 15th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Thursday, March 14th. QCR’s payout ratio is presently 3.57%.

Insider Buying and Selling

In related news, CFO Todd A. Gipple sold 6,791 shares of the business’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $61.00, for a total value of $414,251.00. Following the completion of the transaction, the chief financial officer now owns 40,043 shares of the company’s stock, valued at $2,442,623. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Todd A. Gipple sold 6,791 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $61.00, for a total transaction of $414,251.00. Following the completion of the sale, the chief financial officer now owns 40,043 shares of the company’s stock, valued at approximately $2,442,623. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Larry J. Helling purchased 1,000 shares of QCR stock in a transaction that occurred on Monday, February 5th. The shares were purchased at an average price of $56.00 per share, for a total transaction of $56,000.00. Following the transaction, the chief executive officer now directly owns 36,601 shares in the company, valued at approximately $2,049,656. The disclosure for this purchase can be found here. 3.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Raymond James lifted their price objective on QCR from $60.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Piper Sandler lifted their price target on shares of QCR from $67.00 to $74.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of QCR from $69.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th.

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.