NorthRock Partners LLC Increases Position in Nicolet Bankshares, Inc. (NYSE:NIC)

NorthRock Partners LLC raised its position in shares of Nicolet Bankshares, Inc. (NYSE:NIC - Free Report) by 140.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,122 shares of the company's stock after buying an additional 4,159 shares during the period. NorthRock Partners LLC's holdings in Nicolet Bankshares were worth $747,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Nicolet Bankshares by 4.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,617 shares of the company's stock valued at $799,000 after acquiring an additional 321 shares in the last quarter. Janus Henderson Group PLC increased its stake in Nicolet Bankshares by 5.1% during the 4th quarter. Janus Henderson Group PLC now owns 180,218 shares of the company's stock worth $18,907,000 after buying an additional 8,698 shares during the period. Deutsche Bank AG lifted its holdings in Nicolet Bankshares by 51.0% during the 4th quarter. Deutsche Bank AG now owns 11,506 shares of the company's stock worth $1,207,000 after buying an additional 3,888 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in Nicolet Bankshares by 72.5% in the 4th quarter. Cubist Systematic Strategies LLC now owns 9,610 shares of the company's stock valued at $1,008,000 after buying an additional 4,040 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Nicolet Bankshares in the fourth quarter worth $240,000. 43.06% of the stock is owned by institutional investors and hedge funds.

Nicolet Bankshares Stock Up 0.2%

NIC stock traded up $0.20 during midday trading on Wednesday, reaching $123.68. 13,995 shares of the company were exchanged, compared to its average volume of 54,536. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 15.40 and a beta of 0.76. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.96 and a current ratio of 0.96. Nicolet Bankshares, Inc. has a 1-year low of $76.01 and a 1-year high of $125.05. The stock's 50-day simple moving average is $113.17 and its 200 day simple moving average is $111.87.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last posted its earnings results on Tuesday, April 15th. The company reported $2.10 EPS for the quarter, beating analysts' consensus estimates of $1.96 by $0.14. Nicolet Bankshares had a net margin of 23.83% and a return on equity of 10.95%. The firm had revenue of $89.43 million for the quarter, compared to the consensus estimate of $70.08 million. On average, equities analysts forecast that Nicolet Bankshares, Inc. will post 8.18 earnings per share for the current year.

Nicolet Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.32 per share. This is a positive change from Nicolet Bankshares's previous quarterly dividend of $0.28. This represents a $1.28 annualized dividend and a dividend yield of 1.03%. Nicolet Bankshares's dividend payout ratio (DPR) is presently 13.51%.

Insider Activity

In related news, Director Robert Bruce Atwell sold 6,192 shares of the company's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $115.85, for a total value of $717,343.20. Following the completion of the sale, the director now owns 33,816 shares in the company, valued at $3,917,583.60. This represents a 15.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan L. Merkatoris sold 300 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $115.26, for a total transaction of $34,578.00. Following the completion of the sale, the director now directly owns 81,918 shares of the company's stock, valued at $9,441,868.68. The trade was a 0.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 13,294 shares of company stock valued at $1,518,618. Insiders own 16.40% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Piper Sandler lowered their target price on Nicolet Bankshares from $120.00 to $118.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Maxim Group lifted their price target on shares of Nicolet Bankshares from $124.00 to $131.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. Finally, 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 research report on Thursday, April 17th.

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.