Wealth Enhancement Advisory Services LLC Sells 6,968 Shares of Nicolet Bankshares Inc. (NYSE:NIC)

Wealth Enhancement Advisory Services LLC lowered its holdings in shares of Nicolet Bankshares Inc. (NYSE:NIC - Free Report) by 17.9% during the 1st quarter, according to the company in its most recent filing 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 about 0.21% of Nicolet Bankshares worth $3,483,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in NIC. Anchor Capital Advisors LLC lifted its position in shares of Nicolet Bankshares by 0.4% in the 4th quarter. Anchor Capital Advisors LLC now owns 23,356 shares of the company's stock worth $2,450,000 after purchasing an additional 97 shares during the period. Rafferty Asset Management LLC lifted its holdings in shares of Nicolet Bankshares by 1.4% during the fourth quarter. Rafferty Asset Management LLC now owns 8,531 shares of the company's stock valued at $895,000 after purchasing an additional 120 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in shares of Nicolet Bankshares by 11.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,410 shares of the company's stock worth $148,000 after acquiring an additional 140 shares during the period. Advisory Research Inc. grew its position in Nicolet Bankshares by 0.3% in the 4th quarter. Advisory Research Inc. now owns 44,723 shares of the company's stock worth $4,692,000 after purchasing an additional 155 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in Nicolet Bankshares by 2.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 5,815 shares of the company's stock worth $610,000 after purchasing an additional 157 shares during the period. Hedge funds and other institutional investors own 43.06% of the company's stock.

Nicolet Bankshares Stock Up 1.8%

NYSE:NIC opened at $124.57 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.97 and a current ratio of 0.97. Nicolet Bankshares Inc. has a fifty-two week low of $79.43 and a fifty-two week high of $125.50. The stock has a market capitalization of $1.88 billion, a P/E ratio of 15.03 and a beta of 0.76. The company's 50-day simple moving average is $119.70 and its 200-day simple moving average is $113.58.

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

Nicolet Bankshares Increases Dividend

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

Analysts Set New Price Targets

NIC has been the subject of a number of research reports. Piper Sandler reduced their target price on shares of Nicolet Bankshares from $120.00 to $118.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Keefe, Bruyette & Woods increased their price objective on shares of Nicolet Bankshares from $115.00 to $118.00 and gave the company a "market perform" rating in a report on Thursday, April 17th.

Insider Buying and Selling

In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 6,192 shares of the company's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $115.85, for a total value of $717,343.20. Following the transaction, the director now owns 33,816 shares of the company's stock, valued at $3,917,583.60. This represents a 15.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Susan L. Merkatoris sold 3,700 shares of the stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $108.58, for a total transaction of $401,746.00. Following the sale, the director now directly owns 78,218 shares in the company, valued at $8,492,910.44. This represents a 4.52% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,226 shares of company stock valued at $1,884,826. 16.40% of the stock is owned by corporate insiders.

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.

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.