State of New Jersey Common Pension Fund D Sells 15,472 Shares of QCR Holdings, Inc. (NASDAQ:QCRH)

State of New Jersey Common Pension Fund D cut its position in shares of QCR Holdings, Inc. (NASDAQ:QCRH) by 32.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,317 shares of the bank’s stock after selling 15,472 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.19% of QCR worth $1,939,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. ClariVest Asset Management LLC lifted its position in shares of QCR by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 15,080 shares of the bank’s stock worth $905,000 after buying an additional 421 shares in the last quarter. Rhumbline Advisers lifted its holdings in QCR by 1.3% during the second quarter. Rhumbline Advisers now owns 26,407 shares of the bank’s stock worth $1,584,000 after acquiring an additional 341 shares during the period. Principal Financial Group Inc. boosted its position in QCR by 6.6% in the second quarter. Principal Financial Group Inc. now owns 7,472 shares of the bank’s stock worth $448,000 after purchasing an additional 463 shares during the last quarter. Innealta Capital LLC bought a new position in QCR in the 2nd quarter valued at $35,000. Finally, Panagora Asset Management Inc. purchased a new stake in shares of QCR during the 2nd quarter valued at $496,000. 70.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

QCR Stock Down 3.1 %

Shares of NASDAQ:QCRH opened at $75.54 on Friday. The stock has a market capitalization of $1.27 billion, a P/E ratio of 11.26 and a beta of 0.95. The stock’s 50-day moving average price is $72.98 and its 200-day moving average price is $62.93. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 0.82. QCR Holdings, Inc. has a 12-month low of $45.83 and a 12-month high of $79.61.

QCR (NASDAQ:QCRH) last posted its earnings results on Wednesday, July 24th. The bank reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.34. The company had revenue of $150.64 million during the quarter, compared to analyst estimates of $82.20 million. QCR had a net margin of 19.37% and a return on equity of 12.90%. During the same period in the prior year, the business posted $1.69 earnings per share. On average, equities analysts anticipate that QCR Holdings, Inc. will post 6.33 earnings per share for the current year.

QCR Announces Dividend

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 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date is Friday, September 13th. QCR’s dividend payout ratio is 3.58%.

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.