Nicolet Bankshares, Inc. (NYSE:NIC) Shares Sold by Millennium Management LLC

Millennium Management LLC cut its holdings in shares of Nicolet Bankshares, Inc. (NYSE:NIC - Free Report) by 27.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,445 shares of the company's stock after selling 5,870 shares during the quarter. Millennium Management LLC owned 0.10% of Nicolet Bankshares worth $1,620,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Sterling Capital Management LLC grew its stake in shares of Nicolet Bankshares by 748.7% during the 4th quarter. Sterling Capital Management LLC now owns 331 shares of the company's stock worth $35,000 after purchasing an additional 292 shares during the period. New York State Teachers Retirement System purchased a new position in Nicolet Bankshares in the fourth quarter valued at $128,000. Summit Investment Advisors Inc. increased its holdings in Nicolet Bankshares by 11.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,410 shares of the company's stock valued at $148,000 after buying an additional 140 shares in the last quarter. Franklin Resources Inc. purchased a new position in Nicolet Bankshares in the fourth quarter valued at $211,000. Finally, Quantbot Technologies LP increased its holdings in Nicolet Bankshares by 30.7% in the fourth quarter. Quantbot Technologies LP now owns 2,116 shares of the company's stock valued at $222,000 after buying an additional 497 shares in the last quarter. 43.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Susan L. Merkatoris sold 300 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $115.26, for a total value of $34,578.00. Following the completion of the transaction, the director now owns 81,918 shares in the company, valued at approximately $9,441,868.68. This represents a 0.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert Bruce Atwell sold 3,208 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $123.42, for a total transaction of $395,931.36. Following the sale, the director now owns 34,220 shares of the company's stock, valued at approximately $4,223,432.40. This represents a 8.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,400 shares of company stock valued at $1,549,599 in the last ninety days. Company insiders own 16.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Piper Sandler cut their price objective on shares of Nicolet Bankshares from $120.00 to $118.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Keefe, Bruyette & Woods lifted their target price on shares of Nicolet Bankshares from $115.00 to $118.00 and gave the company a "market perform" rating in a research report on Thursday, April 17th.

Nicolet Bankshares Trading Down 2.8%

Shares of NIC stock traded down $3.32 during trading hours on Wednesday, hitting $116.92. The company had a trading volume of 48,360 shares, compared to its average volume of 56,005. The company's fifty day moving average is $115.16 and its 200 day moving average is $112.74. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.96. Nicolet Bankshares, Inc. has a fifty-two week low of $76.01 and a fifty-two week high of $125.50. The stock has a market capitalization of $1.76 billion, a PE ratio of 14.56 and a beta of 0.76.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The company reported $2.10 EPS for the quarter, topping the consensus estimate of $1.96 by $0.14. Nicolet Bankshares had a net margin of 23.83% and a return on equity of 10.95%. The firm had revenue of $89.43 million for the quarter, compared to analyst estimates of $70.08 million. Research analysts expect that Nicolet Bankshares, Inc. will post 8.18 earnings per share for the current fiscal year.

Nicolet Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be paid a dividend of $0.32 per share. This is an increase from Nicolet Bankshares's previous quarterly dividend of $0.28. This represents a $1.28 annualized dividend and a yield of 1.09%. The ex-dividend date is Monday, June 2nd. Nicolet Bankshares's dividend payout ratio is presently 15.44%.

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.