Kennedy Capital Management LLC Lowers Stock Holdings in Nicolet Bankshares, Inc. (NYSE:NIC)

Kennedy Capital Management LLC trimmed its position in shares of Nicolet Bankshares, Inc. (NYSE:NIC) by 2.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,688 shares of the company’s stock after selling 247 shares during the period. Kennedy Capital Management LLC owned about 0.08% of Nicolet Bankshares worth $1,005,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NIC. Vanguard Group Inc. grew its stake in shares of Nicolet Bankshares by 1.2% during the first quarter. Vanguard Group Inc. now owns 705,938 shares of the company’s stock valued at $60,704,000 after buying an additional 8,213 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Nicolet Bankshares by 3.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 542,091 shares of the company’s stock valued at $43,629,000 after acquiring an additional 20,299 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Nicolet Bankshares by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 101,665 shares of the company’s stock valued at $8,182,000 after acquiring an additional 2,036 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Nicolet Bankshares by 9.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 45,364 shares of the company’s stock worth $3,901,000 after purchasing an additional 3,905 shares during the period. Finally, Empowered Funds LLC grew its stake in shares of Nicolet Bankshares by 7.8% in the first quarter. Empowered Funds LLC now owns 33,683 shares of the company’s stock worth $2,896,000 after purchasing an additional 2,450 shares during the last quarter. Institutional investors own 43.06% of the company’s stock.

Wall Street Analyst Weigh In

NIC has been the topic of several research analyst reports. Keefe, Bruyette & Woods boosted their target price on Nicolet Bankshares from $85.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. Piper Sandler raised their target price on shares of Nicolet Bankshares from $86.00 to $104.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 17th. Finally, Stephens boosted their price target on shares of Nicolet Bankshares from $90.00 to $110.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $100.00.

Nicolet Bankshares Stock Down 1.4 %

NYSE:NIC opened at $100.56 on Thursday. Nicolet Bankshares, Inc. has a 1-year low of $63.58 and a 1-year high of $104.58. The company has a market capitalization of $1.50 billion, a PE ratio of 15.49 and a beta of 0.77. The firm’s 50-day moving average price is $85.09 and its 200-day moving average price is $82.00. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.96 and a quick ratio of 0.95.

Nicolet Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, June 3rd were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.11%. This is a positive change from Nicolet Bankshares’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, June 3rd. Nicolet Bankshares’s dividend payout ratio (DPR) is presently 17.26%.

Insider Transactions at Nicolet Bankshares

In related news, EVP Brad Vincent Hutjens sold 10,000 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $99.00, for a total transaction of $990,000.00. Following the sale, the executive vice president now directly owns 26,642 shares of the company’s stock, valued at approximately $2,637,558. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Susan L. Merkatoris sold 5,000 shares of Nicolet Bankshares stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $97.45, for a total value of $487,250.00. Following the completion of the sale, the director now directly owns 83,218 shares in the company, valued at $8,109,594.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brad Vincent Hutjens sold 10,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $99.00, for a total transaction of $990,000.00. Following the transaction, the executive vice president now owns 26,642 shares in the company, valued at approximately $2,637,558. The disclosure for this sale can be found here. Insiders have sold a total of 31,528 shares of company stock valued at $3,053,362 in the last ninety days. 16.40% of the stock is currently owned by corporate insiders.

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.