Victory Capital Management Inc. Invests $288,000 in Nicolet Bankshares Inc. (NYSE:NIC)

Key Points

• Victory Capital Management Inc. has recently invested approximately $288,000 in Nicolet Bankshares Inc., purchasing 2,645 shares of its stock in the first quarter.
• Nicolet Bankshares reported an EPS of $2.35 for the most recent quarter, exceeding analyst expectations and generating revenue of $95.74 million.
• The company has increased its quarterly dividend to $0.32 per share, marking a rise from the previous dividend of $0.28, reflecting a 1.0% yield.

Victory Capital Management Inc. purchased a new position in Nicolet Bankshares Inc. (NYSE:NIC - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,645 shares of the company's stock, valued at approximately $288,000.

A number of other hedge funds have also made changes to their positions in NIC. Smith Group Asset Management LLC acquired a new position in Nicolet Bankshares in the first quarter worth approximately $210,000. KBC Group NV acquired a new position in Nicolet Bankshares in the first quarter worth approximately $95,000. Diversified Trust Co acquired a new position in Nicolet Bankshares in the first quarter worth approximately $239,000. SG Americas Securities LLC acquired a new position in Nicolet Bankshares in the first quarter worth approximately $405,000. Finally, Vest Financial LLC acquired a new position in Nicolet Bankshares in the first quarter worth approximately $1,642,000. 43.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Nicolet Bankshares

In other Nicolet Bankshares news, EVP Eric James Witczak sold 5,000 shares of Nicolet Bankshares stock in a transaction on Friday, July 18th. The stock was sold at an average price of $139.77, for a total transaction of $698,850.00. Following the completion of the transaction, the executive vice president directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Bruce Atwell sold 6,904 shares of Nicolet Bankshares stock in a transaction on Monday, July 21st. The shares were sold at an average price of $139.47, for a total value of $962,900.88. Following the transaction, the director directly owned 34,220 shares of the company's stock, valued at approximately $4,772,663.40. The trade was a 16.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,238 shares of company stock valued at $2,427,488. 14.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Wall Street Zen upgraded Nicolet Bankshares from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Piper Sandler reiterated a "neutral" rating and set a $140.00 price target (up previously from $122.50) on shares of Nicolet Bankshares in a report on Wednesday, July 16th. Keefe, Bruyette & Woods increased their price target on Nicolet Bankshares from $118.00 to $135.00 and gave the company a "market perform" rating in a report on Thursday, July 17th. Finally, Maxim Group increased their price target on Nicolet Bankshares from $131.00 to $161.00 and gave the company a "buy" rating in a report on Thursday, July 17th.

Nicolet Bankshares Stock Performance

Shares of Nicolet Bankshares stock traded up $0.43 during midday trading on Wednesday, hitting $127.26. The company had a trading volume of 27,861 shares, compared to its average volume of 74,269. The business's 50 day simple moving average is $126.05 and its two-hundred day simple moving average is $118.44. The stock has a market cap of $1.89 billion, a PE ratio of 14.63 and a beta of 0.77. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.97. Nicolet Bankshares Inc. has a 1-year low of $85.68 and a 1-year high of $141.92.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.21. The business 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%. As a group, equities analysts predict that Nicolet Bankshares Inc. will post 8.18 EPS for the current fiscal year.

Nicolet Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.0%. This is an increase from Nicolet Bankshares's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Monday, June 2nd. Nicolet Bankshares's dividend payout ratio (DPR) is 14.70%.

About Nicolet Bankshares

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.