Old Mission Investment Co LLC Buys New Holdings in Nicolet Bankshares Inc. $NIC

Key Points

• Old Mission Investment Co. LLC initiated a Nicolet Bankshares position of 5,839 shares valued at approximately $966,000. Institutional investors and hedge funds collectively own 43.06% of NIC.
• Analysts maintain a generally positive outlook, with five Buy ratings and two Hold ratings producing a consensus “Moderate Buy” rating and an average price target of $183.00.
• Nicolet Bankshares exceeded quarterly expectations, reporting $2.99 in earnings per share versus the $2.85 estimate and revenue of $177.75 million. The company also declared a quarterly dividend of $0.36 per share, representing a 0.8% annualized yield.

Old Mission Investment Co LLC purchased a new position in shares of Nicolet Bankshares Inc. (NYSE:NIC - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,839 shares of the company's stock, valued at approximately $966,000.

Several other institutional investors and hedge funds have also bought and sold shares of NIC. EverSource Wealth Advisors LLC increased its stake in shares of Nicolet Bankshares by 3,940.0% in the second quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company's stock worth $25,000 after acquiring an additional 197 shares during the period. Meeder Asset Management Inc. acquired a new position in Nicolet Bankshares during the fourth quarter valued at $48,000. Clearstead Advisors LLC boosted its holdings in Nicolet Bankshares by 192.9% in the fourth quarter. Clearstead Advisors LLC now owns 451 shares of the company's stock valued at $55,000 after purchasing an additional 297 shares during the last quarter. Parallel Advisors LLC grew its position in Nicolet Bankshares by 151.9% during the 1st quarter. Parallel Advisors LLC now owns 607 shares of the company's stock worth $90,000 after purchasing an additional 366 shares during the period. Finally, UMB Bank n.a. purchased a new position in shares of Nicolet Bankshares during the 4th quarter valued at about $102,000. 43.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NIC shares. Weiss Ratings cut Nicolet Bankshares from a "buy (a-)" rating to a "buy (b+)" rating in a report on Monday. Raymond James Financial began coverage on Nicolet Bankshares in a report on Tuesday, June 23rd. They set a "market perform" rating on the stock. Zacks Research upgraded Nicolet Bankshares from a "strong sell" rating to a "hold" rating in a research report on Monday, June 22nd. Keefe, Bruyette & Woods boosted their price target on Nicolet Bankshares from $175.00 to $185.00 and gave the company an "outperform" rating in a report on Thursday, July 23rd. Finally, Piper Sandler set a $194.00 price objective on Nicolet Bankshares in a research report on Wednesday, July 22nd. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $183.00.

Insider Buying and Selling

In related news, Director Robert Atwell sold 2,662 shares of Nicolet Bankshares stock in a transaction on Friday, July 24th. The shares were sold at an average price of $170.24, for a total value of $453,178.88. Following the sale, the director owned 34,483 shares of the company's stock, valued at approximately $5,870,385.92. This trade represents a 7.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Eric Witczak sold 1,215 shares of the business's stock in a transaction on Monday, July 27th. The stock was sold at an average price of $167.89, for a total transaction of $203,986.35. Following the completion of the sale, the executive vice president directly owned 33,630 shares of the company's stock, valued at approximately $5,646,140.70. The trade was a 3.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 4,219 shares of company stock worth $715,976 in the last quarter. Insiders own 7.20% of the company's stock.

Nicolet Bankshares Price Performance

NYSE:NIC opened at $172.32 on Friday. 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 Inc. has a 52 week low of $114.11 and a 52 week high of $180.00. The stock's 50-day moving average price is $170.27 and its 200-day moving average price is $155.99. The stock has a market capitalization of $3.61 billion, a PE ratio of 19.56 and a beta of 0.64.

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

Nicolet Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.36 per share. The ex-dividend date is Tuesday, September 1st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.8%. Nicolet Bankshares's dividend payout ratio (DPR) is 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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