Vanguard Group Inc. Boosts Stock Position in Nicolet Bankshares Inc. $NIC

Key Points

• Vanguard Group Inc. increased its holdings in Nicolet Bankshares Inc. by 1.1%, owning approximately 4.94% of the company valued at $81.2 million.
• Nicolet Bankshares reported earnings per share of $2.35 for the last quarter, exceeding expectations and reflecting a significant revenue of $95.74 million.
• Analysts have mixed ratings on Nicolet Bankshares, with one "Buy" rating, two "Hold" ratings, and a consensus price target of $145.33.

Vanguard Group Inc. lifted its holdings in Nicolet Bankshares Inc. (NYSE:NIC - Free Report) by 1.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 745,270 shares of the company's stock after purchasing an additional 8,147 shares during the period. Vanguard Group Inc. owned about 4.94% of Nicolet Bankshares worth $81,205,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of Nicolet Bankshares by 20,603.3% in the 1st quarter. GAMMA Investing LLC now owns 6,211 shares of the company's stock worth $677,000 after purchasing an additional 6,181 shares during the period. Deutsche Bank AG increased its holdings in Nicolet Bankshares by 51.0% in the 4th quarter. Deutsche Bank AG now owns 11,506 shares of the company's stock worth $1,207,000 after acquiring an additional 3,888 shares in the last quarter. Vest Financial LLC purchased a new stake in Nicolet Bankshares in the 1st quarter worth approximately $1,642,000. Barclays PLC increased its holdings in Nicolet Bankshares by 15.1% in the 4th quarter. Barclays PLC now owns 27,589 shares of the company's stock worth $2,894,000 after acquiring an additional 3,611 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Nicolet Bankshares in the 1st quarter worth approximately $405,000. Institutional investors own 43.06% of the company's stock.

Insiders Place Their Bets

In related news, Director Robert Bruce Atwell sold 6,904 shares of the firm's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $139.47, for a total value of $962,900.88. Following the completion of the transaction, the director directly owned 34,220 shares of the company's stock, valued at approximately $4,772,663.40. This trade represents a 16.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Eric James Witczak sold 5,000 shares of the firm's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $139.77, for a total transaction of $698,850.00. Following the completion of the transaction, the executive vice president directly owned 28,901 shares of the company's stock, valued at approximately $4,039,492.77. This trade represents a 14.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,182 shares of company stock valued at $2,466,754. 16.40% of the stock is currently owned by insiders.

Nicolet Bankshares Price Performance

NIC traded down $0.76 during trading on Friday, reaching $137.84. 41,415 shares of the company traded hands, compared to its average volume of 67,092. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.96 and a current ratio of 0.96. Nicolet Bankshares Inc. has a 12-month low of $90.07 and a 12-month high of $141.92. The firm has a fifty day simple moving average of $130.80 and a 200 day simple moving average of $120.83. The company has a market cap of $2.05 billion, a P/E ratio of 15.83 and a beta of 0.77.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The company reported $2.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.14 by $0.21. Nicolet Bankshares had a net margin of 25.12% and a return on equity of 11.48%. The business had revenue of $95.74 million during the quarter, compared to analyst estimates of $72.89 million. On average, equities analysts forecast that Nicolet Bankshares Inc. will post 8.18 EPS for the current year.

Nicolet Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued 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 dividend payout ratio (DPR) is 14.70%.

Wall Street Analyst Weigh In

NIC has been the subject of several analyst reports. Maxim Group increased their target price on shares of Nicolet Bankshares from $131.00 to $161.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Wall Street Zen raised shares of Nicolet Bankshares from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Keefe, Bruyette & Woods increased their target price on shares of Nicolet Bankshares from $118.00 to $135.00 and gave the stock a "market perform" rating in a report on Thursday, July 17th. Finally, Piper Sandler reissued a "neutral" rating and issued a $140.00 target price (up from $122.50) on shares of Nicolet Bankshares in a report on Wednesday, July 16th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Nicolet Bankshares currently has a consensus rating of "Hold" and a consensus target price of $145.33.

About Nicolet Bankshares

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.