AlphaQuest LLC Has $207,000 Stock Holdings in Nicolet Bankshares Inc. $NIC

Key Points

• AlphaQuest LLC has reduced its holdings in Nicolet Bankshares Inc. by 64.6%, selling 3,460 shares and ending up with 1,898 shares valued at $207,000.
• Several institutional investors have increased their stakes in Nicolet Bankshares, with Aquatic Capital Management LLC leading with a 289.3% increase during the fourth quarter.
• Nicolet Bankshares recently reported a quarterly EPS of $2.35, exceeding analyst estimates, and announced a quarterly dividend of $0.32 scheduled for payment on September 15th.

AlphaQuest LLC lessened its holdings in shares of Nicolet Bankshares Inc. (NYSE:NIC - Free Report) by 64.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,898 shares of the company's stock after selling 3,460 shares during the quarter. AlphaQuest LLC's holdings in Nicolet Bankshares were worth $207,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NIC. Boston Partners bought a new position in Nicolet Bankshares during the first quarter valued at approximately $15,303,000. Nuveen LLC bought a new position in Nicolet Bankshares during the first quarter valued at approximately $3,754,000. Vest Financial LLC bought a new position in Nicolet Bankshares during the first quarter valued at approximately $1,642,000. Janus Henderson Group PLC raised its position in Nicolet Bankshares by 5.1% during the fourth quarter. Janus Henderson Group PLC now owns 180,218 shares of the company's stock valued at $18,907,000 after acquiring an additional 8,698 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Nicolet Bankshares by 1.1% in the first quarter. Vanguard Group Inc. now owns 745,270 shares of the company's stock valued at $81,205,000 after purchasing an additional 8,147 shares during the period. Institutional investors own 43.06% of the company's stock.

Insiders Place Their Bets

In other news, Director Robert Bruce Atwell sold 6,904 shares of the business's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $139.47, for a total value of $962,900.88. Following the sale, the director owned 34,220 shares in the company, valued at approximately $4,772,663.40. The trade was a 16.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Eric James Witczak sold 1,588 shares of the business's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $139.42, for a total transaction of $221,398.96. Following the completion of the sale, the executive vice president owned 28,901 shares in the company, valued at $4,029,377.42. This represents a 5.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,182 shares of company stock worth $2,466,754 in the last quarter. Corporate insiders own 14.20% of the company's stock.

Nicolet Bankshares Stock Performance

NIC traded up $0.90 during trading on Thursday, reaching $136.84. 21,292 shares of the company's stock were exchanged, compared to its average volume of 72,795. Nicolet Bankshares Inc. has a fifty-two week low of $90.07 and a fifty-two week high of $141.92. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. The business has a 50 day moving average price of $131.71 and a 200 day moving average price of $121.21. The company has a market capitalization of $2.03 billion, a P/E ratio of 15.71 and a beta of 0.77.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The company reported $2.35 earnings per share for the quarter, topping analysts' consensus estimates of $2.14 by $0.21. Nicolet Bankshares had a net margin of 25.12% and a return on equity of 11.48%. The firm had revenue of $95.74 million for the quarter, compared to the consensus estimate of $72.89 million. As a group, analysts predict that Nicolet Bankshares Inc. will post 8.18 earnings per share for the current fiscal year.

Nicolet Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.32 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.28 dividend on an annualized basis and a yield of 0.9%. Nicolet Bankshares's payout ratio is currently 14.70%.

Analyst Ratings Changes

NIC has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Nicolet Bankshares from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Maxim Group lifted their price target on shares of Nicolet Bankshares from $131.00 to $161.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Piper Sandler reissued a "neutral" rating and issued a $140.00 price target (up previously from $122.50) on shares of Nicolet Bankshares in a research report on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Nicolet Bankshares from $118.00 to $135.00 and gave the stock a "market perform" rating in a research report on Thursday, July 17th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $145.33.

About Nicolet Bankshares

Nicolet Bankshares, Inc operates as the bank holding company for Nicolet National Bank that provides banking products and services for businesses and individuals in Wisconsin and Michigan. The company accepts checking, savings, and money market accounts; various certificates of deposit; and individual retirement accounts.