Quantinno Capital Management LP raised its stake in shares of Nicolet Bankshares Inc. (NYSE:NIC - Free Report) by 684.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,716 shares of the company's stock after purchasing an additional 25,055 shares during the quarter. Quantinno Capital Management LP owned 0.14% of Nicolet Bankshares worth $4,268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently made changes to their positions in NIC. Royal Bank of Canada grew its position in Nicolet Bankshares by 150.8% in the first quarter. Royal Bank of Canada now owns 13,987 shares of the company's stock worth $1,524,000 after acquiring an additional 8,410 shares in the last quarter. AQR Capital Management LLC raised its position in Nicolet Bankshares by 15.2% during the first quarter. AQR Capital Management LLC now owns 11,819 shares of the company's stock valued at $1,288,000 after purchasing an additional 1,557 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Nicolet Bankshares by 6.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,134 shares of the company's stock worth $886,000 after purchasing an additional 517 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Nicolet Bankshares by 6.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 29,778 shares of the company's stock worth $3,245,000 after purchasing an additional 1,922 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Nicolet Bankshares by 3,940.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company's stock valued at $25,000 after purchasing an additional 197 shares during the last quarter. Institutional investors own 43.06% of the company's stock.
Insiders Place Their Bets
In related news, EVP Eric James Witczak sold 342 shares of Nicolet Bankshares stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $171.96, for a total value of $58,810.32. Following the sale, the executive vice president owned 33,288 shares in the company, valued at $5,724,204.48. The trade was a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert Bruce Atwell sold 2,662 shares of the company's stock in a transaction on Friday, July 24th. The stock was sold at an average price of $170.24, for a total transaction of $453,178.88. Following the completion of the transaction, the director owned 34,483 shares of the company's stock, valued at $5,870,385.92. This trade represents a 7.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 4,219 shares of company stock valued at $715,976 in the last ninety days. 7.20% of the stock is currently owned by insiders.
Nicolet Bankshares Stock Down 0.7%
Shares of NYSE:NIC opened at $172.76 on Friday. Nicolet Bankshares Inc. has a 1 year low of $114.11 and a 1 year high of $176.59. The company has a market cap of $3.62 billion, a PE ratio of 19.61 and a beta of 0.65. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.90 and a quick ratio of 0.90. The stock's 50-day moving average is $159.58 and its 200 day moving average is $152.24.
Nicolet Bankshares (NYSE:NIC - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The company reported $2.99 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.14. The business 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%. Sell-side analysts anticipate that Nicolet Bankshares Inc. will post 12.3 EPS for the current year.
Nicolet Bankshares Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.44 dividend on an annualized basis and a yield of 0.8%. Nicolet Bankshares's dividend payout ratio (DPR) is presently 16.35%.
Wall Street Analyst Weigh In
NIC has been the subject of several research reports. Keefe, Bruyette & Woods upped their target price on Nicolet Bankshares from $175.00 to $185.00 and gave the stock an "outperform" rating in a research note on Thursday, July 23rd. Zacks Research upgraded shares of Nicolet Bankshares from a "strong sell" rating to a "hold" rating in a report on Monday, June 22nd. Weiss Ratings raised shares of Nicolet Bankshares from a "buy (b)" rating to a "buy (b+)" rating in a research note on Monday. Hovde Group reduced 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. Finally, Piper Sandler set a $194.00 target price on shares of Nicolet Bankshares in a research report on Wednesday, July 22nd. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $183.00.
Get Our Latest Stock Analysis on Nicolet Bankshares
Nicolet Bankshares Profile
(
Free Report)
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.
Further Reading
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