Heartland Advisors Inc. Takes $8.29 Million Position in Nicolet Bankshares Inc. $NIC

Key Points

• Heartland Advisors Inc. disclosed a new first-quarter position in Nicolet Bankshares, buying 55,758 shares valued at about $8.29 million and representing roughly 0.26% of the company.
• Institutional ownership remains significant, with the article noting that 43.06% of Nicolet Bankshares shares are held by institutional investors; several smaller funds also increased or initiated positions recently.
• Analysts currently assign Nicolet Bankshares a Moderate Buy consensus, with five Buy ratings and two Hold ratings, while the stock recently traded near its 52-week high after reporting mixed quarterly results and raising its dividend to $0.36 per share.

Heartland Advisors Inc. acquired a new stake in shares of Nicolet Bankshares Inc. (NYSE:NIC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 55,758 shares of the company's stock, valued at approximately $8,287,000. Heartland Advisors Inc. owned about 0.26% of Nicolet Bankshares at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised its position in Nicolet Bankshares by 3,940.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company's stock worth $25,000 after buying an additional 197 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Nicolet Bankshares during the 4th quarter valued at about $48,000. Clearstead Advisors LLC grew its stake in shares of Nicolet Bankshares by 192.9% in the fourth quarter. Clearstead Advisors LLC now owns 451 shares of the company's stock worth $55,000 after acquiring an additional 297 shares during the period. UMB Bank n.a. bought a new stake in shares of Nicolet Bankshares in the fourth quarter worth approximately $102,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Nicolet Bankshares during the second quarter valued at approximately $133,000. 43.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NIC has been the topic of several research reports. Zacks Research upgraded shares of Nicolet Bankshares from a "strong sell" rating to a "hold" rating in a report on Monday, June 22nd. Raymond James Financial assumed coverage on shares of Nicolet Bankshares in a research note on Tuesday, June 23rd. They set a "market perform" rating for the company. Hovde Group lowered their price target on Nicolet Bankshares from $190.00 to $180.00 and set an "outperform" rating on the stock in a report on Thursday, April 23rd. Piper Sandler dropped their price target on Nicolet Bankshares from $185.00 to $183.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 22nd. Finally, Weiss Ratings lowered Nicolet Bankshares from a "buy (b+)" rating to a "buy (b)" rating in a report on Monday, May 18th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Nicolet Bankshares currently has an average rating of "Moderate Buy" and a consensus price target of $176.50.

Nicolet Bankshares Stock Performance

NIC opened at $169.57 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 19.88 and a beta of 0.65. The company's 50 day moving average is $150.70 and its 200 day moving average is $147.47. Nicolet Bankshares Inc. has a 12-month low of $114.11 and a 12-month high of $173.48.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last announced its earnings results on Tuesday, April 21st. The company reported $2.75 EPS for the quarter, missing analysts' consensus estimates of $2.98 by ($0.23). Nicolet Bankshares had a net margin of 21.89% and a return on equity of 11.48%. The business had revenue of $134.85 million for the quarter, compared to analysts' expectations of $129.74 million. On average, equities research analysts predict that Nicolet Bankshares Inc. will post 12.17 EPS for the current year.

Nicolet Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.36 dividend. This is a positive change from Nicolet Bankshares's previous quarterly dividend of $0.32. The ex-dividend date was Monday, June 1st. This represents a $1.44 annualized dividend and a dividend yield of 0.8%. Nicolet Bankshares's dividend payout ratio (DPR) is currently 16.88%.

About Nicolet Bankshares

Nicolet Bankshares, Inc is a bank holding company headquartered in Green Bay, Wisconsin. Through its subsidiary, Nicolet National Bank, it provides a range of commercial and consumer banking services to businesses, individuals and nonprofit organizations across northeastern Wisconsin and the Upper Peninsula of Michigan. The company's branch network, digital banking platform and commercial lending centers support its focus on community banking and regional growth.

The company offers deposit products such as checking, savings and money market accounts, alongside consumer and commercial lending solutions.

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