Steph & Co. Cuts Stake in Nicolet Bankshares Inc. (NYSE:NIC)

Steph & Co. trimmed its stake in Nicolet Bankshares Inc. (NYSE:NIC - Free Report) by 21.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,290 shares of the company's stock after selling 2,770 shares during the quarter. Nicolet Bankshares comprises 0.4% of Steph & Co.'s portfolio, making the stock its 28th largest position. Steph & Co. owned about 0.07% of Nicolet Bankshares worth $1,121,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in shares of Nicolet Bankshares by 132.8% in the 4th quarter. JPMorgan Chase & Co. now owns 76,385 shares of the company's stock worth $8,014,000 after purchasing an additional 43,567 shares during the period. Renaissance Technologies LLC purchased a new stake in Nicolet Bankshares during the 4th quarter worth $2,474,000. Dimensional Fund Advisors LP increased its holdings in Nicolet Bankshares by 3.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 641,740 shares of the company's stock valued at $67,325,000 after purchasing an additional 21,819 shares in the last quarter. Martingale Asset Management L P acquired a new stake in Nicolet Bankshares in the 4th quarter valued at $1,898,000. Finally, Teacher Retirement System of Texas raised its position in Nicolet Bankshares by 284.8% in the fourth quarter. Teacher Retirement System of Texas now owns 22,035 shares of the company's stock valued at $2,312,000 after purchasing an additional 16,308 shares during the period. Institutional investors and hedge funds own 43.06% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NIC shares. Keefe, Bruyette & Woods upped their target price on Nicolet Bankshares from $115.00 to $118.00 and gave the stock a "market perform" rating in a research report on Thursday, April 17th. Piper Sandler lowered their price objective on shares of Nicolet Bankshares from $120.00 to $118.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th.

Insider Buying and Selling at Nicolet Bankshares

In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 3,126 shares of the stock in a transaction on Monday, June 9th. The shares were sold at an average price of $118.30, for a total transaction of $369,805.80. Following the sale, the director now directly owns 34,220 shares of the company's stock, valued at approximately $4,048,226. This represents a 8.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan L. Merkatoris sold 3,700 shares of the firm's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $108.58, for a total transaction of $401,746.00. Following the completion of the transaction, the director now owns 78,218 shares in the company, valued at approximately $8,492,910.44. The trade was a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,226 shares of company stock worth $1,884,826 over the last quarter. 14.20% of the stock is owned by corporate insiders.

Nicolet Bankshares Trading Up 1.0%

Shares of NIC opened at $122.11 on Wednesday. Nicolet Bankshares Inc. has a one year low of $77.49 and a one year high of $125.50. The stock has a 50-day moving average price of $119.13 and a 200 day moving average price of $113.42. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $1.84 billion, a P/E ratio of 14.73 and a beta of 0.76.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last released its earnings results on Tuesday, April 15th. The company reported $2.10 EPS for the quarter, beating the consensus estimate of $1.96 by $0.14. The company had revenue of $89.43 million during the quarter, compared to analysts' expectations of $70.08 million. Nicolet Bankshares had a return on equity of 11.08% and a net margin of 24.31%. Sell-side analysts forecast that Nicolet Bankshares Inc. will post 8.18 EPS for the current fiscal year.

Nicolet Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.28 annualized dividend and a yield of 1.05%. This is a boost from Nicolet Bankshares's previous quarterly dividend of $0.28. Nicolet Bankshares's dividend payout ratio is presently 15.44%.

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.

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