Jupiter Asset Management Ltd. Takes $5.51 Million Position in Nicolet Bankshares Inc. $NIC

Key Points

• Jupiter Asset Management disclosed a new fourth-quarter stake in Nicolet Bankshares, buying 45,453 shares valued at about $5.51 million and representing roughly 0.31% of the company.
• Nicolet Bankshares reported quarterly EPS of $2.75, which missed analyst expectations of $2.98, even though revenue came in above estimates at $134.85 million.
• The company announced a dividend increase to $0.36 per quarter, up from $0.32, and several analysts updated views on the stock, leaving it with a consensus rating of Moderate Buy and a target price of $176.50.

Jupiter Asset Management Ltd. acquired a new stake in Nicolet Bankshares Inc. (NYSE:NIC - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 45,453 shares of the company's stock, valued at approximately $5,513,000. Jupiter Asset Management Ltd. owned about 0.31% of Nicolet Bankshares as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Merit Financial Group LLC boosted its stake in shares of Nicolet Bankshares by 31.2% in the 4th quarter. Merit Financial Group LLC now owns 49,314 shares of the company's stock valued at $5,982,000 after purchasing an additional 11,729 shares during the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of Nicolet Bankshares in the 3rd quarter valued at $3,850,000. UBS Group AG boosted its stake in shares of Nicolet Bankshares by 61.1% in the 4th quarter. UBS Group AG now owns 49,213 shares of the company's stock valued at $5,970,000 after purchasing an additional 18,657 shares during the last quarter. AlphaQuest LLC lifted its position in shares of Nicolet Bankshares by 804.7% during the 4th quarter. AlphaQuest LLC now owns 16,782 shares of the company's stock valued at $2,036,000 after acquiring an additional 14,927 shares during the period. Finally, First Trust Advisors LP lifted its position in shares of Nicolet Bankshares by 4.1% during the 3rd quarter. First Trust Advisors LP now owns 540,486 shares of the company's stock valued at $72,695,000 after acquiring an additional 21,473 shares during the period. 43.06% of the stock is owned by institutional investors.

Nicolet Bankshares Stock Down 0.2%

Nicolet Bankshares stock opened at $140.25 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.08. Nicolet Bankshares Inc. has a 12-month low of $114.11 and a 12-month high of $163.11. The firm's fifty day moving average is $146.88 and its 200 day moving average is $140.53. The company has a market capitalization of $2.98 billion, a PE ratio of 16.44 and a beta of 0.70.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last released its earnings results on Tuesday, April 21st. The company reported $2.75 earnings per share (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 company had revenue of $134.85 million for the quarter, compared to analyst estimates of $129.74 million. As a group, sell-side analysts predict that Nicolet Bankshares Inc. will post 11.75 EPS for the current fiscal year.

Nicolet Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a $0.36 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from Nicolet Bankshares's previous quarterly dividend of $0.32. Nicolet Bankshares's dividend payout ratio (DPR) is currently 15.01%.

Insider Buying and Selling at Nicolet Bankshares

In related news, Director Robert Bruce Atwell sold 3,309 shares of the company's stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $149.82, for a total value of $495,754.38. Following the sale, the director owned 34,054 shares in the company, valued at $5,101,970.28. This represents a 8.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 7.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

NIC has been the topic of a number of research reports. Hovde Group dropped their target price on shares of Nicolet Bankshares from $190.00 to $180.00 and set an "outperform" rating on the stock in a research report on Thursday, April 23rd. Zacks Research downgraded shares of Nicolet Bankshares from a "hold" rating to a "strong sell" rating in a research report on Wednesday, May 20th. Piper Sandler dropped their target price on shares of Nicolet Bankshares from $185.00 to $183.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 22nd. Finally, Weiss Ratings downgraded shares of Nicolet Bankshares from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday, May 18th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Nicolet Bankshares presently has an average rating of "Moderate Buy" and a consensus target price of $176.50.

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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