QCR Holdings
QCRH on Nasdaq. QCR Holdings sells commercial and consumer banking to people and businesses in the Midwest. Market value $1.6bn.
Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.
We can't read total debt from the filing, so debt is left out.
Should I look at this?
Worth a closer look
Why it could be worth it
What to watch out for
Nothing stood out in the numbers we check.
This is not advice. Check the numbers below.
Yearly profit per dollar of owners' money: 14 cents. Above 10 is good.
What you pay for each dollar of net assets: $1.41.
Profit per $100 you pay: $8.76.
Quality score: 97 of 100. Price score: 89 of 100. Our list needs 70 on quality and 60 on price.
$99.02 a share, 49% above its 1-year low
Over the past year the price has ranged from $66.65 to $108.11.
Dividend: 0.3% a year
Paid every year for at least 5 years
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $301m | $373m | $546m | n/a | n/a |
| Operating margin | |||||
| Operating margin | n/a | n/a | n/a | n/a | n/a |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.02bn | 0.02bn | 0.02bn | 0.02bn | 0.02bn |
Health checks
- Free cash flow positiveDoesn't apply to banks and insurers
- Accounting checksDoesn't apply to banks and insurers
- DebtDoesn't apply to banks and insurers
- Revenue growth, five yearsStrong, 20.5% a year
- Buying back its own sharesYes, 3% fewer since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Profit: $36 million, up 25% on a year ago.
- Spare cash over the past 12 months: $793 million, up from $405 million.
- 3% fewer shares than a year ago. Each share owns a bit more of the company.
| Quarter to | Amount |
|---|---|
| September 2024 | $28m |
| December 2024 | $30m |
| March 2025 | $26m |
| June 2025 | $29m |
| September 2025 | $37m |
| December 2025 | $36m |
| March 2026 | $33m |
| June 2026 | $36m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 27 February 2026
- Next quarterly (estimated, 10-Q)
- 6 November 2026
Who owns it
1 long-term investor we follow owns it, unchanged from 1 last quarter. 218 funds in all.
- Mairs & PowerAndy Adams
- Value
- $9m
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Mairs & PowerAndy Adams | $9m | <0.1% |
Largest holders overall
- BlackRock$145mAdded
- Dimensional Fund Advisors LP$92m
- FMR$89m
- Vanguard Capital Management$69m
- State Street$55mAdded
- Kennedy Capital Management$55mCut
- Geode Capital Management$43mAdded
- Endeavour Capital Advisors$38mCut
- Victory Capital Management$37mAdded
- American Century Companies$36m
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
1 investor owns more than 5%.
- FMR LLCPassive investorat least 5.5%−1.6 pts(filed with 1 related holder)Since 31 March 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
FMR LLC Passive investor | at least 5.5%−1.6 pts (filed with 1 related holder) | 31 March 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 1 insider bought $14,250 of shares on the open market. 3 sold $917,548.
- Ekizian Laura LPresident & CEO, QCBTSold
- Date
- 9 June 2026
- Shares
- 750
- Price
- $94.96
- Value
- $71,220
- Reasner Amy LDirectorBought
- Date
- 2 June 2026
- Shares
- 60
- Price
- $90.25
- Value
- $5,415
- Klein James D.President, CRBTSold
- Date
- 30 April 2026
- Shares
- 310
- Price
- $91.00
- Value
- $28,210
- Reasner Amy LDirectorBought
- Date
- 23 April 2026
- Shares
- 100
- Price
- $88.35
- Value
- $8,835
- Klein James D.President, CRBTSold
- Date
- 12 March 2026
- Shares
- 554
- Price
- $82.50
- Value
- $45,705
- GIPPLE TODD APresident & CFO, DirectorSold
- Date
- 30 January 2026
- Shares
- 8,590
- Price
- $89.92
- Value
- $772,413
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 9 June 2026 | Ekizian Laura L President & CEO, QCBT | Sold | 750 | $94.96 | $71,220 |
| 2 June 2026 | Reasner Amy L Director | Bought | 60 | $90.25 | $5,415 |
| 30 April 2026 | Klein James D. President, CRBT | Sold | 310 | $91.00 | $28,210 |
| 23 April 2026 | Reasner Amy L Director | Bought | 100 | $88.35 | $8,835 |
| 12 March 2026 | Klein James D. President, CRBT | Sold | 554 | $82.50 | $45,705 |
| 30 January 2026 | GIPPLE TODD A President & CFO, Director | Sold | 8,590 | $89.92 | $772,413 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 27 Feb 2026, plus the 10-Q filed 7 Aug 2026 and 6 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
What changed in the risks this year
Companies must list what could hurt them each year. These are the parts that changed since last year’s report.
The Company's information systems or those of its third-party partners may experience an interruption, failure or breach in security and cyber-attacks, all of which could have a material adverse effect on the Company's business.
Could happen Technology-related operation interruptions may also occur in connection with planned system upgrades and vendor transitions. The Company completed a core processing provider consolidation at GB in the fourth quarter of 2025 and intends to undertake core processing provider consolidations at its other subsidiary banks in 2026 and 2027. The Company and its core processing systems may be more vulnerable to threat actors during these transitions, and may not be able to anticipate matters that could cause delays or interruptions during the consolidations.
Read more
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.