Steph & Co. Reduces Holdings in Nicolet Bankshares Inc. (NYSE:NIC)

Steph & Co. reduced its stake in Nicolet Bankshares Inc. (NYSE:NIC - Free Report) by 21.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,290 shares of the company's stock after selling 2,770 shares during the period. Nicolet Bankshares makes up 0.4% of Steph & Co.'s portfolio, making the stock its 28th largest holding. Steph & Co. owned approximately 0.07% of Nicolet Bankshares worth $1,121,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in NIC. Sterling Capital Management LLC increased its holdings in Nicolet Bankshares by 748.7% during the fourth quarter. Sterling Capital Management LLC now owns 331 shares of the company's stock valued at $35,000 after buying an additional 292 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Nicolet Bankshares during the fourth quarter worth $61,000. New York State Teachers Retirement System acquired a new stake in shares of Nicolet Bankshares during the fourth quarter worth $128,000. Summit Investment Advisors Inc. lifted its stake in shares of Nicolet Bankshares by 11.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,410 shares of the company's stock worth $148,000 after buying an additional 140 shares during the period. Finally, Franklin Resources Inc. acquired a new stake in shares of Nicolet Bankshares during the fourth quarter worth $211,000. 43.06% of the stock is currently owned by institutional investors.

Nicolet Bankshares Price Performance

NYSE NIC traded up $0.12 during trading hours on Friday, hitting $124.97. 139,093 shares of the company's stock traded hands, compared to its average volume of 59,363. Nicolet Bankshares Inc. has a 52-week low of $79.84 and a 52-week high of $126.14. The company has a market capitalization of $1.88 billion, a PE ratio of 15.08 and a beta of 0.76. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.97 and a quick ratio of 0.97. The firm's 50-day moving average is $119.98 and its 200-day moving average is $113.66.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $2.10 earnings per share (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 net margin of 24.31% and a return on equity of 11.08%. Equities analysts forecast that Nicolet Bankshares Inc. will post 8.18 EPS for the current fiscal year.

Nicolet Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were issued a $0.32 dividend. This is a positive change from Nicolet Bankshares's previous quarterly dividend of $0.28. This represents a $1.28 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Monday, June 2nd. Nicolet Bankshares's dividend payout ratio is currently 15.44%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on NIC shares. 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 note on Wednesday, April 16th. Keefe, Bruyette & Woods boosted their target price on shares of Nicolet Bankshares from $115.00 to $118.00 and gave the company a "market perform" rating in a research report on Thursday, April 17th.

Insider Transactions at Nicolet Bankshares

In other Nicolet Bankshares news, Director Susan L. Merkatoris sold 3,700 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $108.58, for a total value of $401,746.00. Following the sale, the director now directly owns 78,218 shares of the company's stock, valued at approximately $8,492,910.44. This represents a 4.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert Bruce Atwell sold 6,192 shares of the stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $115.85, for a total transaction of $717,343.20. Following the completion of the transaction, the director now directly owns 33,816 shares in the company, valued at $3,917,583.60. This trade represents a 15.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,226 shares of company stock worth $1,884,826. 16.40% of the stock is currently owned by insiders.

Nicolet Bankshares Company 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.