Swiss National Bank Increases Stock Position in Nicolet Bankshares Inc. $NIC

Swiss National Bank boosted its holdings in Nicolet Bankshares Inc. (NYSE:NIC) by 53.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 40,300 shares of the company’s stock after buying an additional 14,000 shares during the period. Swiss National Bank’s holdings in Nicolet Bankshares were worth $5,989,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. PDT Partners LLC increased its holdings in shares of Nicolet Bankshares by 1.8% in the 2nd quarter. PDT Partners LLC now owns 5,572 shares of the company’s stock worth $688,000 after purchasing an additional 100 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Nicolet Bankshares by 4.9% during the fourth quarter. ProShare Advisors LLC now owns 2,424 shares of the company’s stock valued at $294,000 after purchasing an additional 113 shares in the last quarter. LPL Financial LLC lifted its holdings in shares of Nicolet Bankshares by 4.6% during the fourth quarter. LPL Financial LLC now owns 2,836 shares of the company’s stock valued at $344,000 after purchasing an additional 126 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Nicolet Bankshares by 0.6% during the fourth quarter. Bank of Montreal Can now owns 23,181 shares of the company’s stock valued at $2,829,000 after buying an additional 147 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Nicolet Bankshares by 3,940.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock worth $25,000 after buying an additional 197 shares in the last quarter. 43.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Nicolet Bankshares

In other news, Director Robert Bruce Atwell sold 2,662 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $170.24, for a total value of $453,178.88. Following the transaction, the director owned 34,483 shares in the company, valued at $5,870,385.92. This represents a 7.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Hovde Group decreased their target price on Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Keefe, Bruyette & Woods raised their price target on shares of Nicolet Bankshares from $175.00 to $185.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Zacks Research upgraded shares of Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Piper Sandler set a $194.00 price objective on shares of Nicolet Bankshares in a report on Wednesday, July 22nd. Finally, Raymond James Financial started coverage on shares of Nicolet Bankshares in a research report on Tuesday, June 23rd. They set a “market perform” rating on the stock. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Nicolet Bankshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $183.00.

Nicolet Bankshares Stock Performance

Shares of NIC opened at $173.02 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.90 and a quick ratio of 0.90. Nicolet Bankshares Inc. has a one year low of $114.11 and a one year high of $173.48. The firm has a market capitalization of $3.68 billion, a P/E ratio of 19.64 and a beta of 0.65. The business has a fifty day moving average of $154.63 and a 200 day moving average of $149.92.

Nicolet Bankshares (NYSE:NIC) last posted its earnings results on Tuesday, July 21st. The company reported $2.99 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.14. The company had revenue of $177.75 million for the quarter, compared to the consensus estimate of $171.93 million. Nicolet Bankshares had a return on equity of 11.36% and a net margin of 21.77%. As a group, sell-side analysts anticipate that Nicolet Bankshares Inc. will post 12.3 EPS for the current year.

Nicolet Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.44 annualized dividend and a dividend yield of 0.8%. Nicolet Bankshares’s dividend payout ratio is presently 16.35%.

Nicolet Bankshares Profile

Nicolet Bankshares, Inc is a bank holding company headquartered in Green Bay, Wisconsin. Through its subsidiary, Nicolet National Bank, it provides a range of commercial and consumer banking services to businesses, individuals and nonprofit organizations across northeastern Wisconsin and the Upper Peninsula of Michigan. The company’s branch network, digital banking platform and commercial lending centers support its focus on community banking and regional growth.

The company offers deposit products such as checking, savings and money market accounts, alongside consumer and commercial lending solutions.