Nicolet Bankshares Inc. $NIC Shares Purchased by AlphaQuest LLC

Key Points

• AlphaQuest LLC boosted its stake in Nicolet Bankshares by 804.7% in the fourth quarter, buying 14,927 additional shares and bringing its total to 16,782 shares worth about $2.0 million.
• Institutional ownership remains significant, with large investors like Vanguard, First Trust, and Boston Partners also adding shares; overall, about 43.06% of the stock is held by institutions and hedge funds.
• Nicolet Bankshares recently raised its quarterly dividend to $0.36 per share from $0.32, even as its latest earnings missed EPS expectations and analyst sentiment turned mixed, with a consensus rating of Moderate Buy.

AlphaQuest LLC raised its stake in Nicolet Bankshares Inc. (NYSE:NIC - Free Report) by 804.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,782 shares of the company's stock after buying an additional 14,927 shares during the quarter. AlphaQuest LLC owned about 0.11% of Nicolet Bankshares worth $2,036,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in NIC. Vanguard Group Inc. raised its stake in Nicolet Bankshares by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 737,578 shares of the company's stock valued at $89,468,000 after buying an additional 22,474 shares in the last quarter. 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 worth $72,695,000 after buying an additional 21,473 shares during the last quarter. Boston Partners boosted its holdings in shares of Nicolet Bankshares by 40.6% in the 3rd quarter. Boston Partners now owns 199,396 shares of the company's stock valued at $26,789,000 after buying an additional 57,536 shares in the last quarter. Qube Research & Technologies Ltd boosted its holdings in shares of Nicolet Bankshares by 71.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 49,468 shares of the company's stock valued at $6,653,000 after buying an additional 20,640 shares in the last quarter. Finally, Merit Financial Group LLC boosted its holdings 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 buying an additional 11,729 shares in the last quarter. 43.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Robert Bruce Atwell sold 3,331 shares of Nicolet Bankshares stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $150.67, for a total value of $501,881.77. Following the transaction, the director owned 34,054 shares in the company, valued at approximately $5,130,916.18. This trade represents a 8.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.20% of the company's stock.

Wall Street Analysts Forecast Growth

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

Nicolet Bankshares Stock Performance

NYSE:NIC opened at $144.13 on Wednesday. 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 fifty-two week low of $114.11 and a fifty-two week high of $163.11. The stock has a market cap of $3.06 billion, a PE ratio of 16.90 and a beta of 0.70. The firm's fifty day simple moving average is $147.16 and its 200-day simple moving average is $140.30.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The company reported $2.75 EPS for the quarter, missing analysts' consensus estimates of $2.98 by ($0.23). The business had revenue of $134.85 million during the quarter, compared to analyst estimates of $129.74 million. Nicolet Bankshares had a net margin of 21.89% and a return on equity of 11.48%. Analysts expect that Nicolet Bankshares Inc. will post 11.75 earnings per share for the current fiscal year.

Nicolet Bankshares Increases Dividend

The company 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 is an increase from Nicolet Bankshares's previous quarterly dividend of $0.32. This represents a $1.44 dividend on an annualized basis and a yield of 1.0%. Nicolet Bankshares's payout ratio is 15.01%.

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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