Victory Capital Management Inc. Makes New Investment 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. bought a new position in Nicolet Bankshares Inc. (NYSE:NIC - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 2,645 shares of the company's stock, valued at approximately $288,000.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of Nicolet Bankshares by 20,603.3% in the 1st quarter. GAMMA Investing LLC now owns 6,211 shares of the company's stock worth $677,000 after buying an additional 6,181 shares during the period. Deutsche Bank AG raised its position in shares of Nicolet Bankshares by 51.0% in the 4th quarter. Deutsche Bank AG now owns 11,506 shares of the company's stock worth $1,207,000 after acquiring an additional 3,888 shares in the last quarter. Vest Financial LLC bought a new position in shares of Nicolet Bankshares in the 1st quarter worth $1,642,000. Barclays PLC raised its position in shares of Nicolet Bankshares by 15.1% in the 4th quarter. Barclays PLC now owns 27,589 shares of the company's stock worth $2,894,000 after acquiring an additional 3,611 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Nicolet Bankshares in the 1st quarter worth $405,000. 43.06% of the stock is currently owned by hedge funds and other institutional investors.

Nicolet Bankshares Trading Down 2.1%

Shares of NYSE:NIC opened at $126.27 on Friday. The business's 50-day moving average is $125.94 and its 200 day moving average is $118.16. Nicolet Bankshares Inc. has a 1 year low of $85.68 and a 1 year high of $141.92. The firm has a market capitalization of $1.90 billion, a P/E ratio of 14.50 and a beta of 0.77. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.97 and a quick ratio of 0.97.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last announced its earnings results on Tuesday, July 15th. The company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.21. Nicolet Bankshares had a return on equity of 11.53% and a net margin of 25.12%. The company had revenue of $95.74 million for the quarter, compared to analyst estimates of $72.89 million. On average, research analysts predict that Nicolet Bankshares Inc. will post 8.18 earnings per share for the current fiscal year.

Nicolet Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, June 2nd. 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. Nicolet Bankshares's dividend payout ratio is currently 14.70%.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Nicolet Bankshares news, EVP Eric James Witczak sold 5,000 shares of the business's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $139.77, for a total transaction of $698,850.00. Following the sale, the executive vice president owned 28,901 shares in the company, valued at approximately $4,039,492.77. The trade was a 14.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Bruce Atwell sold 6,904 shares of the business's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $139.47, for a total value of $962,900.88. Following the sale, the director 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. Insiders have sold a total of 18,238 shares of company stock worth $2,427,488 over the last ninety days. 16.40% of the stock is currently owned by corporate insiders.

Nicolet Bankshares Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.