UBS Group AG Buys 18,657 Shares of Nicolet Bankshares Inc. $NIC

Key Points

• UBS Group AG boosted its stake in Nicolet Bankshares by 61.1% in the fourth quarter, buying 18,657 additional shares and bringing its total holding to 49,213 shares worth about $5.97 million.
• Nicolet Bankshares reported mixed recent results, with quarterly EPS of $2.75 falling short of estimates, while revenue of $134.85 million came in above expectations. Analysts still project full-year EPS of 11.75.
• The company raised its quarterly dividend to $0.36 per share from $0.32, and the stock currently offers an annualized yield of about 1.0% with a low payout ratio of 16.88%.

UBS Group AG lifted its holdings in shares of Nicolet Bankshares Inc. (NYSE:NIC - Free Report) by 61.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 49,213 shares of the company's stock after purchasing an additional 18,657 shares during the period. UBS Group AG owned about 0.33% of Nicolet Bankshares worth $5,970,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. PDT Partners LLC grew its holdings in shares of Nicolet Bankshares by 1.8% during the 2nd quarter. PDT Partners LLC now owns 5,572 shares of the company's stock valued at $688,000 after purchasing an additional 100 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Nicolet Bankshares by 71.8% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 347 shares of the company's stock valued at $47,000 after purchasing an additional 145 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Nicolet Bankshares by 45.1% during the 3rd quarter. Parkside Financial Bank & Trust now owns 589 shares of the company's stock valued at $79,000 after purchasing an additional 183 shares during the last quarter. Swiss National Bank grew its holdings in shares of Nicolet Bankshares by 0.8% during the 3rd quarter. Swiss National Bank now owns 26,300 shares of the company's stock valued at $3,537,000 after purchasing an additional 200 shares during the last quarter. Finally, California State Teachers Retirement System grew its holdings in shares of Nicolet Bankshares by 1.8% during the 2nd quarter. California State Teachers Retirement System now owns 12,515 shares of the company's stock valued at $1,545,000 after purchasing an additional 225 shares during the last quarter. Institutional investors own 43.06% of the company's stock.

Nicolet Bankshares Trading Up 1.9%

NYSE:NIC opened at $142.32 on Thursday. The company has a 50-day moving average price of $147.76 and a 200-day moving average price of $139.69. Nicolet Bankshares Inc. has a 12 month low of $114.11 and a 12 month high of $163.11. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 16.68 and a beta of 0.70.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last posted its earnings results on Tuesday, April 21st. The company reported $2.75 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.23). Nicolet Bankshares had a return on equity of 11.48% and a net margin of 21.89%.The company had revenue of $134.85 million during the quarter, compared to analysts' expectations of $129.74 million. Equities analysts predict that Nicolet Bankshares Inc. will post 11.75 EPS for the current year.

Nicolet Bankshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a $0.36 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.44 annualized dividend and a dividend yield of 1.0%. This is a positive change from Nicolet Bankshares's previous quarterly dividend of $0.32. Nicolet Bankshares's dividend payout ratio is 16.88%.

Analyst Ratings Changes

Several equities analysts recently commented on NIC shares. Keefe, Bruyette & Woods increased their target price on shares of Nicolet Bankshares from $165.00 to $170.00 and gave the company an "outperform" rating in a report on Thursday, January 22nd. Zacks Research lowered shares of Nicolet Bankshares from a "strong-buy" rating to a "hold" rating in a report on Monday, April 20th. Maxim Group increased their target price on shares of Nicolet Bankshares from $161.00 to $173.00 and gave the company a "buy" rating in a report on Thursday, January 22nd. Piper Sandler reduced their target price on shares of Nicolet Bankshares from $185.00 to $183.00 and set an "overweight" rating on the stock in a report on Wednesday, April 22nd. Finally, Weiss Ratings lowered shares of Nicolet Bankshares from a "buy (b+)" rating to a "buy (b)" rating in a report on Monday. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $176.50.

Insider Activity at Nicolet Bankshares

In related news, Director Robert Bruce Atwell sold 3,309 shares of the 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 completion of the transaction, the director directly owned 34,054 shares in the company, valued at $5,101,970.28. This trade represents a 8.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 7.20% of the company's stock.

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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