Swiss National Bank Increases Holdings in Nicolet Bankshares Inc. $NIC

Key Points

• Swiss National Bank increased its Nicolet Bankshares stake by 53.2% in the first quarter, bringing its holdings to 40,300 shares valued at approximately $5.99 million. Institutional investors collectively own 43.06% of the company.
• 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 reported quarterly earnings of $2.99 per share, beating estimates of $2.85, while revenue also exceeded expectations. The company declared a quarterly dividend of $0.36, equivalent to a 0.8% annual yield.

Swiss National Bank increased its position in Nicolet Bankshares Inc. (NYSE:NIC - Free Report) by 53.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,300 shares of the company's stock after buying an additional 14,000 shares during the quarter. Swiss National Bank owned 0.19% of Nicolet Bankshares worth $5,989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its holdings in shares of Nicolet Bankshares by 3,940.0% in the 2nd 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 last quarter. Meeder Asset Management Inc. purchased a new position in Nicolet Bankshares during the 4th quarter valued at about $48,000. Clearstead Advisors LLC grew its stake in Nicolet Bankshares by 192.9% in the fourth quarter. Clearstead Advisors LLC now owns 451 shares of the company's stock worth $55,000 after purchasing an additional 297 shares during the period. UMB Bank n.a. bought a new position in Nicolet Bankshares in the fourth quarter worth $102,000. Finally, Raymond James Financial Inc. bought a new position in Nicolet Bankshares in the second quarter worth $133,000. 43.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NIC has been the subject of several recent research reports. Keefe, Bruyette & Woods raised their price objective on Nicolet Bankshares from $175.00 to $185.00 and gave the company an "outperform" rating in a research report on Thursday, July 23rd. Raymond James Financial assumed coverage on shares of Nicolet Bankshares in a research report on Tuesday, June 23rd. They set a "market perform" rating for the company. Hovde Group dropped their price objective on shares of Nicolet Bankshares from $190.00 to $180.00 and set an "outperform" rating on the stock in a research note on Thursday, April 23rd. Zacks Research upgraded shares of Nicolet Bankshares from a "strong sell" rating to a "hold" rating in a report on Monday, June 22nd. Finally, Weiss Ratings downgraded shares of Nicolet Bankshares from a "buy (b+)" rating to a "buy (b)" rating in a research note on Monday, May 18th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $183.00.

Insider Buying and Selling

In related news, Director Robert Bruce Atwell sold 2,662 shares of the stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $170.24, for a total transaction of $453,178.88. Following the sale, the director directly owned 34,483 shares of the company's stock, valued at approximately $5,870,385.92. This represents a 7.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 7.20% of the company's stock.

Nicolet Bankshares Trading Up 2.9%

Nicolet Bankshares stock opened at $173.02 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.04. The business's fifty day simple moving average is $154.63 and its two-hundred day simple moving average is $149.92. Nicolet Bankshares Inc. has a 12 month low of $114.11 and a 12 month high of $173.48. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 19.64 and a beta of 0.65.

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

Nicolet Bankshares Dividend Announcement

The company 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 is Tuesday, September 1st. This represents a $1.44 dividend on an annualized basis and a yield of 0.8%. Nicolet Bankshares's payout ratio is presently 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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