Nicolet Bankshares Inc. $NIC Shares Sold by KLCM Advisors Inc.

KLCM Advisors Inc. reduced its stake in shares of Nicolet Bankshares Inc. (NYSE:NIC) by 72.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,500 shares of the company’s stock after selling 4,000 shares during the quarter. KLCM Advisors Inc.’s holdings in Nicolet Bankshares were worth $223,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Keybank National Association OH bought a new stake in Nicolet Bankshares in the 1st quarter valued at about $347,000. Peregrine Capital Management LLC acquired a new stake in shares of Nicolet Bankshares in the first quarter valued at approximately $4,939,000. Sippican Capital Advisors bought a new stake in shares of Nicolet Bankshares during the first quarter valued at approximately $554,000. Pictet Asset Management Holding SA raised its holdings in shares of Nicolet Bankshares by 57.4% during the first quarter. Pictet Asset Management Holding SA now owns 2,996 shares of the company’s stock valued at $445,000 after buying an additional 1,093 shares during the last quarter. Finally, Apella Capital LLC acquired a new position in shares of Nicolet Bankshares during the first quarter worth approximately $463,000. 43.06% of the stock is currently owned by institutional investors.

Nicolet Bankshares Price Performance

Shares of Nicolet Bankshares stock traded up $0.77 on Friday, hitting $163.95. The company had a trading volume of 271,634 shares, compared to its average volume of 438,187. Nicolet Bankshares Inc. has a 52 week low of $114.11 and a 52 week high of $170.82. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market cap of $3.48 billion, a PE ratio of 19.22 and a beta of 0.65. The business has a 50-day simple moving average of $148.68 and a 200-day simple moving average of $146.00.

Nicolet Bankshares (NYSE:NIC) last announced its earnings results on Tuesday, April 21st. The company reported $2.75 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.23). The firm had revenue of $134.85 million for the quarter, compared to the consensus estimate of $129.74 million. Nicolet Bankshares had a return on equity of 11.48% and a net margin of 21.89%. Research analysts expect that Nicolet Bankshares Inc. will post 11.75 EPS for the current fiscal year.

Nicolet Bankshares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.36 per share. This is a boost from Nicolet Bankshares’s previous quarterly dividend of $0.32. The ex-dividend date was Monday, June 1st. This represents a $1.44 annualized dividend and a dividend yield of 0.9%. Nicolet Bankshares’s payout ratio is 16.88%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NIC shares. Hovde Group decreased their price objective on Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Weiss Ratings downgraded Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Piper Sandler reduced their price target on Nicolet Bankshares from $185.00 to $183.00 and set an “overweight” rating for the company in a research report on Wednesday, April 22nd. Raymond James Financial assumed coverage on Nicolet Bankshares in a research note on Tuesday, June 23rd. They issued a “market perform” rating for the company. Finally, Zacks Research raised Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Nicolet Bankshares currently has an average rating of “Moderate Buy” and an average price target of $176.50.

Nicolet Bankshares Company 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.