Jacobs Levy Equity Management Inc. Buys New Shares in Nicolet Bankshares Inc. $NIC

Key Points

• Jacobs Levy Equity Management Inc. invested approximately $1.43 million in Nicolet Bankshares, acquiring 13,157 shares, which represents a 0.09% stake in the company as of the latest SEC filing.
• Several institutional investors, including Nicolet Bankshares Inc. and Vanguard Group Inc., have also increased their holdings in the company, highlighting continued institutional interest.
• Nicolet Bankshares reported a strong quarterly performance with earnings per share of $2.35, exceeding analysts' expectations, and declaring a quarterly dividend of $0.32 to be paid in September.

Jacobs Levy Equity Management Inc. bought a new stake in shares of Nicolet Bankshares Inc. (NYSE:NIC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,157 shares of the company's stock, valued at approximately $1,434,000. Jacobs Levy Equity Management Inc. owned 0.09% of Nicolet Bankshares at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Rafferty Asset Management LLC boosted its position in shares of Nicolet Bankshares by 1.4% during the fourth quarter. Rafferty Asset Management LLC now owns 8,531 shares of the company's stock valued at $895,000 after buying an additional 120 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Nicolet Bankshares by 4.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,617 shares of the company's stock valued at $799,000 after purchasing an additional 321 shares during the period. Ameriprise Financial Inc. grew its stake in Nicolet Bankshares by 4.4% in the fourth quarter. Ameriprise Financial Inc. now owns 9,262 shares of the company's stock worth $972,000 after purchasing an additional 390 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in Nicolet Bankshares by 1.6% during the 4th quarter. Nuveen Asset Management LLC now owns 34,854 shares of the company's stock worth $3,657,000 after purchasing an additional 544 shares during the period. Finally, North Star Asset Management Inc. increased its holdings in Nicolet Bankshares by 1.2% during the 4th quarter. North Star Asset Management Inc. now owns 46,088 shares of the company's stock worth $4,835,000 after purchasing an additional 548 shares during the period. Hedge funds and other institutional investors own 43.06% of the company's stock.

Nicolet Bankshares Stock Down 0.5%

Nicolet Bankshares stock traded down $0.61 during mid-day trading on Friday, reaching $134.54. 38,617 shares of the company were exchanged, compared to its average volume of 52,934. The business has a fifty day moving average of $132.84 and a 200 day moving average of $122.10. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $2.00 billion, a P/E ratio of 15.45 and a beta of 0.77. Nicolet Bankshares Inc. has a 12-month low of $90.07 and a 12-month high of $141.92.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The company reported $2.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.14 by $0.21. The business had revenue of $95.74 million for the quarter, compared to the consensus estimate of $72.89 million. Nicolet Bankshares had a return on equity of 11.48% and a net margin of 25.12%. Research analysts anticipate 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. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.0%. Nicolet Bankshares's dividend payout ratio is presently 14.70%.

Insiders Place Their Bets

In other news, EVP Eric James Witczak sold 5,000 shares of the company's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $139.77, for a total transaction of $698,850.00. Following the transaction, the executive vice president directly owned 28,901 shares of the company's stock, valued at approximately $4,039,492.77. This represents a 14.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert Bruce Atwell sold 6,904 shares of the company's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $139.47, for a total value of $962,900.88. Following the transaction, the director directly owned 34,220 shares in the company, valued at approximately $4,772,663.40. The trade was a 16.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,056 shares of company stock worth $2,096,949. Insiders own 16.40% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on NIC shares. Maxim Group upped their target price on Nicolet Bankshares from $131.00 to $161.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Wall Street Zen upgraded Nicolet Bankshares from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Keefe, Bruyette & Woods upped their target price on Nicolet Bankshares from $118.00 to $135.00 and gave the stock a "market perform" rating in a report on Thursday, July 17th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $140.00 target price (up from $122.50) on shares of Nicolet Bankshares in a report on Wednesday, July 16th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $145.33.

Nicolet Bankshares Company Profile

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.