Hsbc Holdings PLC Invests $5.38 Million in Nicolet Bankshares Inc. $NIC

Key Points

• HSBC Holdings initiated a $5.38 million position in Nicolet Bankshares during the second quarter, acquiring 32,830 shares, while institutional investors collectively owned 43.06% of the company.
• Analysts maintain a generally positive outlook, with five Buy ratings and two Hold ratings, producing a “Moderate Buy” consensus and an average price target of $183—above the reported $170.71 share price.
• Nicolet exceeded quarterly earnings expectations, reporting $2.99 EPS and $177.75 million in revenue. The company also declared a quarterly dividend of $0.36 per share, equivalent to a 0.8% annual yield.

Hsbc Holdings PLC bought a new stake in Nicolet Bankshares Inc. (NYSE:NIC - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 32,830 shares of the company's stock, valued at approximately $5,380,000. Hsbc Holdings PLC owned 0.16% of Nicolet Bankshares as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. raised its stake in Nicolet Bankshares by 86.3% in the 2nd quarter. BlackRock Inc. now owns 3,027,246 shares of the company's stock worth $500,676,000 after purchasing an additional 1,402,419 shares in the last quarter. Jennison Associates LLC bought a new position in shares of Nicolet Bankshares during the first quarter worth approximately $31,794,000. Dimensional Fund Advisors LP raised its position in shares of Nicolet Bankshares by 32.1% in the first quarter. Dimensional Fund Advisors LP now owns 819,274 shares of the company's stock valued at $121,756,000 after buying an additional 198,997 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Nicolet Bankshares in the second quarter valued at approximately $30,896,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Nicolet Bankshares by 344.3% in the second quarter. Principal Financial Group Inc. now owns 124,379 shares of the company's stock valued at $20,571,000 after buying an additional 96,387 shares during the period. 43.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Piper Sandler set a $194.00 price target on Nicolet Bankshares in a research report on Wednesday, July 22nd. Weiss Ratings cut Nicolet Bankshares from a "buy (a-)" rating to a "buy (b+)" rating in a report on Monday, August 31st. Keefe, Bruyette & Woods upped their target price on Nicolet Bankshares from $175.00 to $185.00 and gave the company an "outperform" rating in a research report on Thursday, July 23rd. Raymond James Financial started coverage on Nicolet Bankshares in a research report on Tuesday, June 23rd. They issued a "market perform" rating on the stock. Finally, Zacks Research raised Nicolet Bankshares from a "strong sell" rating to a "hold" rating in a research note on Monday, June 22nd. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $183.00.

Nicolet Bankshares Stock Down 0.8%

Shares of NIC opened at $170.71 on Thursday. Nicolet Bankshares Inc. has a one year low of $114.11 and a one year high of $180.00. The company has a market cap of $3.58 billion, a P/E ratio of 19.38 and a beta of 0.64. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a 50 day simple moving average of $170.64 and a two-hundred day simple moving average of $156.32.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last released its earnings results on Tuesday, July 21st. The company reported $2.99 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.14. The firm had revenue of $177.75 million during the quarter, compared to analysts' expectations of $171.93 million. Nicolet Bankshares had a return on equity of 11.36% and a net margin of 21.77%. Research analysts forecast that Nicolet Bankshares Inc. will post 12.3 EPS for the current fiscal year.

Nicolet Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.44 annualized dividend and a yield of 0.8%. Nicolet Bankshares's dividend payout ratio (DPR) is 16.35%.

Insider Transactions at Nicolet Bankshares

In other Nicolet Bankshares news, Director Robert Atwell sold 2,662 shares of Nicolet Bankshares stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $170.24, for a total value of $453,178.88. Following the transaction, the director owned 34,483 shares in the company, valued at $5,870,385.92. The trade was a 7.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Eric Witczak sold 1,215 shares of the business's stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $167.89, for a total value of $203,986.35. Following the transaction, the executive vice president directly owned 33,630 shares of the company's stock, valued at approximately $5,646,140.70. The trade was a 3.49% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 4,219 shares of company stock worth $715,976. Company insiders own 7.20% of the company's stock.

Nicolet Bankshares Company Profile

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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