Nicolet Bankshares Inc. $NIC Shares Acquired by Bank of America Corp DE

Bank of America Corp DE increased its position in shares of Nicolet Bankshares Inc. (NYSE:NIC - Free Report) by 109.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,420 shares of the company's stock after purchasing an additional 16,446 shares during the period. Bank of America Corp DE owned approximately 0.15% of Nicolet Bankshares worth $4,670,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in NIC. EverSource Wealth Advisors LLC increased its stake in Nicolet Bankshares by 3,940.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company's stock valued at $25,000 after purchasing an additional 197 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Nicolet Bankshares during the 4th quarter valued at about $48,000. Clearstead Advisors LLC increased its holdings in Nicolet Bankshares by 192.9% during the 4th quarter. Clearstead Advisors LLC now owns 451 shares of the company's stock valued at $55,000 after acquiring an additional 297 shares in the last quarter. Parallel Advisors LLC raised its position in Nicolet Bankshares by 151.9% during the first quarter. Parallel Advisors LLC now owns 607 shares of the company's stock worth $90,000 after acquiring an additional 366 shares during the last quarter. Finally, UMB Bank n.a. acquired a new position in Nicolet Bankshares during the fourth quarter worth about $102,000. Institutional investors and hedge funds own 43.06% of the company's stock.

Insider Activity

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

Nicolet Bankshares Price Performance

NIC stock opened at $171.97 on Friday. The stock's 50 day moving average is $168.99 and its two-hundred day moving average is $155.40. Nicolet Bankshares Inc. has a 52-week low of $114.11 and a 52-week high of $180.00. The company has a market capitalization of $3.60 billion, a PE ratio of 19.52 and a beta of 0.65. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.04.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last released its earnings results on Tuesday, July 21st. The company reported $2.99 EPS for the quarter, beating the consensus estimate of $2.85 by $0.14. Nicolet Bankshares had a return on equity of 11.36% and a net margin of 21.77%.The company had revenue of $177.75 million during the quarter, compared to analysts' expectations of $171.93 million. Analysts predict that Nicolet Bankshares Inc. will post 12.3 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 Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 1st. Nicolet Bankshares's dividend payout ratio (DPR) is presently 16.35%.

Analyst Ratings Changes

Several equities analysts have weighed in on NIC shares. Weiss Ratings raised Nicolet Bankshares from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Monday, August 17th. Raymond James Financial assumed coverage on Nicolet Bankshares in a research report on Tuesday, June 23rd. They issued a "market perform" rating on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Nicolet Bankshares from $175.00 to $185.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. Zacks Research upgraded Nicolet Bankshares from a "strong sell" rating to a "hold" rating in a report on Monday, June 22nd. Finally, Piper Sandler set a $194.00 price target on Nicolet Bankshares in a research note on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $183.00.

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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