Wealth Enhancement Advisory Services LLC Cuts Stake in Nicolet Bankshares Inc. (NYSE:NIC)

Wealth Enhancement Advisory Services LLC cut its position in Nicolet Bankshares Inc. (NYSE:NIC - Free Report) by 17.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 31,964 shares of the company's stock after selling 6,968 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 0.21% of Nicolet Bankshares worth $3,483,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NIC. SG Americas Securities LLC purchased a new position in Nicolet Bankshares in the 1st quarter worth approximately $405,000. Vest Financial LLC bought a new stake in shares of Nicolet Bankshares in the 1st quarter worth $1,642,000. GAMMA Investing LLC raised its stake in shares of Nicolet Bankshares by 20,603.3% in the first quarter. GAMMA Investing LLC now owns 6,211 shares of the company's stock worth $677,000 after purchasing an additional 6,181 shares during the last quarter. Heck Capital Advisors LLC bought a new position in shares of Nicolet Bankshares during the fourth quarter valued at $629,000. Finally, North Star Asset Management Inc. lifted its holdings in shares of Nicolet Bankshares by 1.2% during the fourth quarter. North Star Asset Management Inc. now owns 46,088 shares of the company's stock valued at $4,835,000 after purchasing an additional 548 shares in the last quarter. Institutional investors own 43.06% of the company's stock.

Insider Activity at Nicolet Bankshares

In other news, Director Susan L. Merkatoris sold 3,700 shares of the firm's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $108.58, for a total transaction of $401,746.00. Following the sale, the director directly owned 78,218 shares in the company, valued at $8,492,910.44. This trade represents a 4.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Bruce Atwell sold 3,126 shares of Nicolet Bankshares stock in a transaction on Monday, June 9th. The shares were sold at an average price of $118.30, for a total transaction of $369,805.80. Following the transaction, the director owned 34,220 shares in the company, valued at approximately $4,048,226. This trade represents a 8.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,226 shares of company stock valued at $1,884,826 over the last three months. 14.20% of the stock is currently owned by insiders.

Nicolet Bankshares Stock Performance

NYSE NIC traded down $1.29 during trading hours on Monday, hitting $123.74. 68,508 shares of the company's stock traded hands, compared to its average volume of 58,786. The business's fifty day moving average price is $120.25 and its two-hundred day moving average price is $113.75. The firm has a market capitalization of $1.87 billion, a P/E ratio of 14.93 and a beta of 0.76. Nicolet Bankshares Inc. has a 52 week low of $79.84 and a 52 week high of $126.38. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.13.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last released its quarterly earnings results on Tuesday, April 15th. The company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.14. The business had revenue of $89.43 million during the quarter, compared to analyst estimates of $70.08 million. Nicolet Bankshares had a return on equity of 11.08% and a net margin of 24.31%. Equities research analysts predict that Nicolet Bankshares Inc. will post 8.18 EPS for the current year.

Nicolet Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, June 2nd. This is an increase from Nicolet Bankshares's previous quarterly dividend of $0.28. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.03%. Nicolet Bankshares's payout ratio is 15.44%.

Analyst Ratings Changes

A number of equities analysts have weighed in on NIC shares. Keefe, Bruyette & Woods boosted their target price on Nicolet Bankshares from $115.00 to $118.00 and gave the stock a "market perform" rating in a research report on Thursday, April 17th. Piper Sandler lowered their price target on Nicolet Bankshares from $120.00 to $118.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th.

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.