Wedge Capital Management L L P NC Cuts Stock Holdings in QCR Holdings, Inc. (NASDAQ:QCRH)

Wedge Capital Management L L P NC reduced its position in shares of QCR Holdings, Inc. (NASDAQ:QCRH) by 2.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,193 shares of the bank’s stock after selling 1,428 shares during the period. Wedge Capital Management L L P NC owned 0.41% of QCR worth $4,092,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in QCR by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,025,967 shares of the bank’s stock worth $59,907,000 after acquiring an additional 24,251 shares during the period. Denali Advisors LLC grew its position in QCR by 111.4% in the first quarter. Denali Advisors LLC now owns 18,600 shares of the bank’s stock worth $1,130,000 after acquiring an additional 9,800 shares during the period. New York State Common Retirement Fund grew its position in QCR by 25.0% in the fourth quarter. New York State Common Retirement Fund now owns 9,042 shares of the bank’s stock worth $528,000 after acquiring an additional 1,807 shares during the period. Comerica Bank grew its position in QCR by 3.4% in the first quarter. Comerica Bank now owns 28,266 shares of the bank’s stock worth $1,717,000 after acquiring an additional 938 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new position in QCR in the first quarter worth approximately $205,000. 70.01% of the stock is currently owned by hedge funds and other institutional investors.

QCR Stock Up 3.1 %

QCR stock traded up $2.16 during midday trading on Thursday, reaching $71.43. The company’s stock had a trading volume of 67,566 shares, compared to its average volume of 59,156. QCR Holdings, Inc. has a fifty-two week low of $45.83 and a fifty-two week high of $79.61. 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 $1.20 billion, a P/E ratio of 10.65 and a beta of 0.96. The business has a 50-day simple moving average of $63.84 and a 200-day simple moving average of $59.66.

QCR (NASDAQ:QCRH) last issued its quarterly earnings data on Wednesday, July 24th. The bank reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.34. QCR had a return on equity of 12.90% and a net margin of 19.37%. The company had revenue of $150.64 million for the quarter, compared to analyst estimates of $82.20 million. During the same quarter last year, the company posted $1.69 earnings per share. On average, research analysts expect that QCR Holdings, Inc. will post 6.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $82.00 price objective (up 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.