Northern Trust Corp Has $14.40 Million Position in Nicolet Bankshares Inc. $NIC

Key Points

• Northern Trust Corp has reduced its position in Nicolet Bankshares by 1.9% in the first quarter, owning 132,159 shares valued at $14.40 million by the end of the reporting period.
• Insider sales have occurred recently, with EVP Eric James Witczak selling 1,588 shares and Director Robert Bruce Atwell selling 6,904 shares, representing significant decreases in their respective ownerships.
• Analysts have adjusted their price targets for Nicolet Bankshares, with Piper Sandler setting a new target of $140, while Maxim Group increased its target to $161, reflecting positive sentiment around the stock.

Northern Trust Corp cut its holdings in Nicolet Bankshares Inc. (NYSE:NIC - Free Report) by 1.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 132,159 shares of the company's stock after selling 2,596 shares during the period. Northern Trust Corp owned 0.88% of Nicolet Bankshares worth $14,400,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Point72 Asset Management L.P. bought a new position in shares of Nicolet Bankshares during the 4th quarter worth about $61,000. KBC Group NV bought a new position in Nicolet Bankshares during the 1st quarter valued at about $95,000. Smith Group Asset Management LLC bought a new position in Nicolet Bankshares during the 1st quarter valued at about $210,000. Diversified Trust Co bought a new position in Nicolet Bankshares during the 1st quarter valued at about $239,000. Finally, Balyasny Asset Management L.P. bought a new position in Nicolet Bankshares during the 4th quarter valued at about $240,000. 43.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Robert Bruce Atwell sold 6,904 shares of the business'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 sale, the director owned 34,220 shares of the company's stock, valued at $4,772,663.40. The trade was a 16.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Eric James Witczak sold 1,588 shares of the company's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $139.42, for a total transaction of $221,398.96. Following the sale, the executive vice president directly owned 28,901 shares in the company, valued at $4,029,377.42. This trade represents a 5.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 15,056 shares of company stock worth $2,096,949. 14.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Piper Sandler reaffirmed a "neutral" rating and issued a $140.00 target price (up from $122.50) on shares of Nicolet Bankshares in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods boosted their target price on shares of Nicolet Bankshares from $118.00 to $135.00 and gave the stock a "market perform" rating in a research note on Thursday, July 17th. Wall Street Zen raised shares of Nicolet Bankshares from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Maxim Group boosted their target price on shares of Nicolet Bankshares from $131.00 to $161.00 and gave the stock 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. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $145.33.

Nicolet Bankshares Trading Down 0.7%

NYSE NIC traded down $0.95 during trading on Tuesday, reaching $136.74. 17,068 shares of the stock traded hands, compared to its average volume of 72,219. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 15.70 and a beta of 0.77. Nicolet Bankshares Inc. has a fifty-two week low of $90.07 and a fifty-two week high of $141.92. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. The stock's 50-day moving average price is $132.47 and its 200 day moving average price is $121.63.

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, beating the consensus estimate of $2.14 by $0.21. The company had revenue of $95.74 million during the quarter, compared to analysts' expectations of $72.89 million. Nicolet Bankshares had a net margin of 25.12% and a return on equity of 11.48%. Analysts predict that Nicolet Bankshares Inc. will post 8.18 EPS for the current year.

Nicolet Bankshares Dividend Announcement

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. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. Nicolet Bankshares's payout ratio is currently 14.70%.

Nicolet Bankshares Profile

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.