Miller Howard Investments Inc. NY Buys New Holdings in QCR Holdings, Inc. (NASDAQ:QCRH)

Miller Howard Investments Inc. NY purchased a new position in shares of QCR Holdings, Inc. (NASDAQ:QCRH) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 5,051 shares of the bank’s stock, valued at approximately $303,000.

A number of other large investors also recently modified their holdings of QCRH. Bank of New York Mellon Corp increased its position in QCR by 3.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 88,886 shares of the bank’s stock worth $5,333,000 after purchasing an additional 3,270 shares in the last quarter. EMC Capital Management acquired a new stake in shares of QCR in the first quarter worth $279,000. Comerica Bank raised its stake in shares of QCR by 3.4% in the 1st quarter. Comerica Bank now owns 28,266 shares of the bank’s stock valued at $1,717,000 after acquiring an additional 938 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of QCR by 131.3% during the 1st quarter. Janus Henderson Group PLC now owns 16,301 shares of the bank’s stock valued at $989,000 after acquiring an additional 9,253 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of QCR by 12.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,713 shares of the bank’s stock valued at $287,000 after acquiring an additional 539 shares in the last quarter. 70.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

QCR Price Performance

QCRH opened at $76.90 on Thursday. 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’s 50-day moving average price is $67.39 and its 200 day moving average price is $60.76. QCR Holdings, Inc. has a fifty-two week low of $45.83 and a fifty-two week high of $79.61. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 11.46 and a beta of 0.96.

QCR (NASDAQ:QCRH) last posted its earnings results on Wednesday, July 24th. The bank reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.34. The company had revenue of $150.64 million for the quarter, compared to analysts’ expectations of $82.20 million. QCR had a return on equity of 12.90% and a net margin of 19.37%. During the same period last year, the business posted $1.69 earnings per share. As a group, sell-side analysts expect that QCR Holdings, Inc. will post 6.33 earnings per share for the current year.

QCR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Friday, September 13th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.31%. The ex-dividend date is Friday, September 13th. QCR’s payout ratio is currently 3.58%.

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.