Nicolet Bankshares Inc. $NIC Shares Bought by BlackRock Inc.

Key Points

• BlackRock increased its Nicolet Bankshares stake by 86.3% in the second quarter, adding 1.4 million shares to own 3.03 million shares, or approximately 14.44% of the company. Institutional investors collectively hold 43.06% of NIC.
• Nicolet reported quarterly EPS of $2.99, exceeding the $2.85 consensus estimate, while revenue of $177.75 million also topped expectations. Analysts maintain a “Moderate Buy” consensus with an average price target of $183.
• Insiders sold 4,219 shares worth about $716,000 during the last quarter, while the company announced a quarterly dividend of $0.36 per share, equivalent to a 0.8% annual yield.

BlackRock Inc. boosted its holdings in Nicolet Bankshares Inc. (NYSE:NIC - Free Report) by 86.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,027,246 shares of the company's stock after acquiring an additional 1,402,419 shares during the quarter. BlackRock Inc. owned about 14.44% of Nicolet Bankshares worth $500,676,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. increased its position in Nicolet Bankshares by 344.3% during the second quarter. Principal Financial Group Inc. now owns 124,379 shares of the company's stock worth $20,571,000 after purchasing an additional 96,387 shares during the last quarter. Mendon Capital Advisors Corp boosted its position in Nicolet Bankshares by 274.9% during the 1st quarter. Mendon Capital Advisors Corp now owns 74,988 shares of the company's stock worth $11,145,000 after purchasing an additional 54,988 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in Nicolet Bankshares in the 4th quarter valued at $5,513,000. Swiss National Bank raised its position in Nicolet Bankshares by 53.2% in the first quarter. Swiss National Bank now owns 40,300 shares of the company's stock valued at $5,989,000 after purchasing an additional 14,000 shares during the period. Finally, AlphaQuest LLC raised its position in Nicolet Bankshares by 804.7% in the fourth quarter. AlphaQuest LLC now owns 16,782 shares of the company's stock valued at $2,036,000 after purchasing an additional 14,927 shares during the period. 43.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Nicolet Bankshares

In related news, EVP Eric James Witczak sold 342 shares of the business's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $171.96, for a total transaction of $58,810.32. Following the completion of the sale, the executive vice president owned 33,288 shares of the company's stock, valued at $5,724,204.48. This represents a 1.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Bruce Atwell sold 2,662 shares of the stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $170.24, for a total transaction of $453,178.88. Following the sale, the director owned 34,483 shares in the company, valued at approximately $5,870,385.92. This trade represents a 7.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 4,219 shares of company stock valued at $715,976. 7.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

Nicolet Bankshares Price Performance

NIC opened at $172.93 on Tuesday. The company has a 50-day moving average of $167.00 and a 200-day moving average of $154.84. The company has a market capitalization of $3.62 billion, a P/E ratio of 19.63 and a beta of 0.65. Nicolet Bankshares Inc. has a 1-year low of $114.11 and a 1-year high of $180.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.90 and a current ratio of 0.90.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $2.99 EPS for the quarter, topping the consensus estimate of $2.85 by $0.14. The business had revenue of $177.75 million for the quarter, compared to analysts' expectations of $171.93 million. Nicolet Bankshares had a net margin of 21.77% and a return on equity of 11.36%. Equities analysts expect that Nicolet Bankshares Inc. will post 12.3 EPS for the current fiscal year.

Nicolet Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 1st. Nicolet Bankshares's payout ratio is currently 16.35%.

Nicolet Bankshares 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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