Vest Financial LLC Increases Stock Position in Nicolet Bankshares Inc. $NIC

Key Points

• Vest Financial LLC has increased its stake in Nicolet Bankshares Inc. by 84.1%, owning 27,735 shares valued at approximately $3.4 million as of the latest SEC filing.
• Nicolet Bankshares reported $2.35 earnings per share (EPS) for the last quarter, exceeding analysts' expectations of $2.14, alongside a noteworthy net margin of 25.12%.
• The company recently announced a $0.32 quarterly dividend, representing an annualized dividend yield of 0.9%, with a low dividend payout ratio of 14.70%.

Vest Financial LLC raised its position in shares of Nicolet Bankshares Inc. (NYSE:NIC - Free Report) by 84.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,735 shares of the company's stock after buying an additional 12,666 shares during the period. Vest Financial LLC owned about 0.18% of Nicolet Bankshares worth $3,425,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Nicolet Bankshares Inc. lifted its position in shares of Nicolet Bankshares by 5.5% in the 1st quarter. Nicolet Bankshares Inc. now owns 888,335 shares of the company's stock worth $96,793,000 after purchasing an additional 45,950 shares during the period. Vanguard Group Inc. lifted its position in shares of Nicolet Bankshares by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 745,270 shares of the company's stock worth $81,205,000 after purchasing an additional 8,147 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Nicolet Bankshares by 0.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 234,523 shares of the company's stock worth $25,554,000 after purchasing an additional 2,031 shares during the period. Boston Partners purchased a new stake in shares of Nicolet Bankshares in the 1st quarter worth about $15,303,000. Finally, Merit Financial Group LLC lifted its position in shares of Nicolet Bankshares by 8.7% in the 2nd quarter. Merit Financial Group LLC now owns 37,570 shares of the company's stock worth $4,639,000 after purchasing an additional 3,011 shares during the period. Hedge funds and other institutional investors own 43.06% of the company's stock.

Nicolet Bankshares Stock Performance

NIC opened at $135.39 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.11. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 15.54 and a beta of 0.73. The company's 50 day moving average is $133.20 and its 200 day moving average is $125.00. Nicolet Bankshares Inc. has a 12-month low of $97.27 and a 12-month high of $141.92.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The company reported $2.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.14 by $0.21. The company had revenue of $95.74 million for the quarter, compared to the consensus estimate of $72.89 million. Nicolet Bankshares had a net margin of 25.12% and a return on equity of 11.48%. On average, equities research analysts predict that Nicolet Bankshares Inc. will post 8.18 EPS for the current year.

Nicolet Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were issued a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.9%. Nicolet Bankshares's dividend payout ratio (DPR) is presently 14.70%.

Insider Buying and Selling

In related news, EVP Eric James Witczak sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $139.77, for a total value of $698,850.00. Following the transaction, the executive vice president owned 28,901 shares of the company's stock, valued at approximately $4,039,492.77. This trade represents a 14.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert Bruce Atwell sold 6,904 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $139.47, for a total transaction of $962,900.88. Following the completion of the transaction, the director directly owned 34,220 shares in the company, valued at approximately $4,772,663.40. The trade was a 16.79% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 15,056 shares of company stock worth $2,096,949. 14.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on NIC. Maxim Group increased their price target on shares of Nicolet Bankshares from $131.00 to $161.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Wall Street Zen upgraded shares of Nicolet Bankshares from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Keefe, Bruyette & Woods raised their price objective on shares of Nicolet Bankshares from $118.00 to $135.00 and gave the company a "market perform" rating in a research note on Thursday, July 17th. Weiss Ratings restated a "buy (b)" rating on shares of Nicolet Bankshares in a research note on Wednesday, October 8th. Finally, Piper Sandler restated a "neutral" rating and set a $140.00 price objective (up from $122.50) on shares of Nicolet Bankshares in a research note on Wednesday, July 16th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $145.33.

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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