Tudor Investment Corp ET AL Invests $3.85 Million in Nicolet Bankshares Inc. $NIC

Key Points

• Tudor Investment Corp established a new stake in Nicolet Bankshares, buying 28,622 shares worth about $3.85 million, equal to roughly 0.19% of the company.
• Analysts have been upgrading NIC—multiple firms raised ratings and price targets—leaving the stock with an average consensus rating of Buy and an average price target of $179.50.
• Nicolet recently beat quarterly expectations (EPS $2.73 vs. $2.55; revenue $103.99M vs. $79.67M), trades at a P/E of 16.16 with a $3.39B market cap, and pays a $0.32 quarterly dividend (≈0.8% yield).

Tudor Investment Corp ET AL purchased a new position in shares of Nicolet Bankshares Inc. (NYSE:NIC - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 28,622 shares of the company's stock, valued at approximately $3,850,000. Tudor Investment Corp ET AL owned 0.19% of Nicolet Bankshares as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NIC. Royal Bank of Canada increased its stake in shares of Nicolet Bankshares by 150.8% during 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 during the period. AQR Capital Management LLC increased its stake in shares of Nicolet Bankshares by 15.2% during the first quarter. AQR Capital Management LLC now owns 11,819 shares of the company's stock worth $1,288,000 after acquiring an additional 1,557 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of 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 acquiring an additional 517 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Nicolet Bankshares by 6.9% during the first 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 acquiring an additional 1,922 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Nicolet Bankshares by 3,940.0% during 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. 43.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NIC has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Nicolet Bankshares in a research note on Thursday, January 22nd. Piper Sandler upgraded shares of Nicolet Bankshares from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $148.00 to $185.00 in a research note on Thursday, February 19th. Maxim Group boosted their price target on shares of Nicolet Bankshares from $161.00 to $173.00 and gave the stock a "buy" rating in a research note on Thursday, January 22nd. Hovde Group restated an "outperform" rating and set a $190.00 target price on shares of Nicolet Bankshares in a research report on Tuesday, January 27th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Nicolet Bankshares from $165.00 to $170.00 and gave the stock an "outperform" rating in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $179.50.

Insider Activity

In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 3,309 shares of the company's stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $149.82, for a total value of $495,754.38. Following the sale, the director owned 34,054 shares of the company's stock, valued at $5,101,970.28. This represents a 8.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 13,036 shares of company stock valued at $1,992,022 over the last quarter. 16.40% of the stock is owned by corporate insiders.

Nicolet Bankshares Trading Up 2.0%

Shares of NIC opened at $158.40 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.11. The firm's 50-day moving average is $150.87 and its two-hundred day moving average is $136.04. Nicolet Bankshares Inc. has a twelve month low of $99.00 and a twelve month high of $163.11. The firm has a market capitalization of $3.39 billion, a P/E ratio of 16.16 and a beta of 0.74.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last issued its earnings results on Tuesday, January 20th. The company reported $2.73 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.18. Nicolet Bankshares had a net margin of 26.98% and a return on equity of 12.49%. The company had revenue of $103.99 million for the quarter, compared to analyst estimates of $79.67 million. On average, research analysts predict that Nicolet Bankshares Inc. will post 8.18 earnings per share for the current fiscal year.

Nicolet Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.8%. The ex-dividend date was Monday, March 2nd. Nicolet Bankshares's dividend payout ratio is presently 13.06%.

About Nicolet Bankshares

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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