Nicolet Bankshares Inc. raised its stake in Nicolet Bankshares Inc. (NYSE:NIC - Free Report) by 5.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 888,335 shares of the company's stock after purchasing an additional 45,950 shares during the quarter. Nicolet Bankshares accounts for 19.4% of Nicolet Bankshares Inc.'s investment portfolio, making the stock its biggest holding. Nicolet Bankshares Inc. owned about 5.89% of Nicolet Bankshares worth $96,793,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently modified their holdings of NIC. Wells Fargo & Company MN grew its stake in shares of Nicolet Bankshares by 70.3% in the 4th quarter. Wells Fargo & Company MN now owns 13,898 shares of the company's stock valued at $1,458,000 after purchasing an additional 5,736 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Nicolet Bankshares by 2.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 5,815 shares of the company's stock valued at $610,000 after purchasing an additional 157 shares during the last quarter. Invesco Ltd. grew its stake in shares of Nicolet Bankshares by 14.5% in the 4th quarter. Invesco Ltd. now owns 28,511 shares of the company's stock valued at $2,991,000 after purchasing an additional 3,600 shares during the last quarter. Barclays PLC grew its stake in shares of Nicolet Bankshares by 15.1% in the 4th quarter. Barclays PLC now owns 27,589 shares of the company's stock valued at $2,894,000 after purchasing an additional 3,611 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Nicolet Bankshares by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 641,740 shares of the company's stock valued at $67,325,000 after buying an additional 21,819 shares in the last quarter. 43.06% of the stock is currently owned by hedge funds and other institutional investors.
Nicolet Bankshares Price Performance
Shares of NYSE NIC traded down $0.76 during trading on Friday, reaching $137.84. The company had a trading volume of 41,415 shares, compared to its average volume of 67,092. Nicolet Bankshares Inc. has a twelve month low of $90.07 and a twelve month high of $141.92. The stock has a market capitalization of $2.05 billion, a PE ratio of 16.00 and a beta of 0.77. The stock has a 50-day moving average price of $130.38 and a two-hundred day moving average price of $120.69. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.11.
Nicolet Bankshares (NYSE:NIC - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The company reported $2.35 earnings per share for the quarter, topping analysts' consensus estimates of $2.14 by $0.21. Nicolet Bankshares had a return on equity of 11.48% and a net margin of 25.12%.The company had revenue of $95.74 million during the quarter, compared to analysts' expectations of $72.89 million. As a group, sell-side analysts predict that Nicolet Bankshares Inc. will post 8.18 earnings per share for the current year.
Nicolet Bankshares Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a $0.32 dividend. 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 0.9%. Nicolet Bankshares's payout ratio is currently 14.70%.
Wall Street Analyst Weigh In
NIC has been the topic of a number of analyst reports. Piper Sandler restated a "neutral" rating and issued a $140.00 price target (up from $122.50) on shares of Nicolet Bankshares in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods lifted their price target on Nicolet Bankshares from $118.00 to $135.00 and gave the company a "market perform" rating in a research note on Thursday, July 17th. Wall Street Zen upgraded Nicolet Bankshares from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Maxim Group lifted their price target on Nicolet Bankshares from $131.00 to $161.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $145.33.
Check Out Our Latest Stock Report on NIC
Insider Buying and Selling at Nicolet Bankshares
In related news, Director Robert Bruce Atwell sold 6,904 shares of the stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $139.47, for a total transaction of $962,900.88. Following the transaction, the director directly owned 34,220 shares in the company, valued at approximately $4,772,663.40. This represents a 16.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Eric James Witczak sold 5,000 shares of Nicolet Bankshares stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $139.77, for a total value of $698,850.00. Following the completion of the sale, the executive vice president owned 28,901 shares of the company's stock, valued at $4,039,492.77. This trade represents a 14.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,182 shares of company stock valued at $2,466,754 over the last quarter. Insiders own 16.40% of the company's stock.
About Nicolet Bankshares
(
Free Report)
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.
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