North Star Asset Management Inc. Purchases New Holdings in Nicolet Bankshares Inc. $NIC

North Star Asset Management Inc. purchased a new position in shares of Nicolet Bankshares Inc. (NYSE:NIC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 37,675 shares of the company’s stock, valued at approximately $6,231,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Principal Financial Group Inc. boosted its stake in Nicolet Bankshares by 344.3% in the second quarter. Principal Financial Group Inc. now owns 124,379 shares of the company’s stock valued at $20,571,000 after acquiring an additional 96,387 shares during the last quarter. Mendon Capital Advisors Corp grew its position in shares of Nicolet Bankshares by 274.9% during the 1st quarter. Mendon Capital Advisors Corp now owns 74,988 shares of the company’s stock valued at $11,145,000 after acquiring an additional 54,988 shares during the period. BlackRock Inc. increased its stake in shares of Nicolet Bankshares by 86.3% during the 2nd quarter. BlackRock Inc. now owns 3,027,246 shares of the company’s stock worth $500,676,000 after purchasing an additional 1,402,419 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Nicolet Bankshares during the 4th quarter worth approximately $5,513,000. Finally, Swiss National Bank raised its holdings in shares of Nicolet Bankshares by 53.2% in the 1st quarter. Swiss National Bank now owns 40,300 shares of the company’s stock worth $5,989,000 after purchasing an additional 14,000 shares during the period. Hedge funds and other institutional investors own 43.06% of the company’s stock.

Nicolet Bankshares Price Performance

NIC opened at $171.65 on Friday. The firm has a 50-day moving average price of $168.49 and a 200-day moving average price of $155.28. Nicolet Bankshares Inc. has a twelve month low of $114.11 and a twelve month high of $180.00. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 19.48 and a beta of 0.65.

Nicolet Bankshares (NYSE:NIC) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $2.99 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.14. Nicolet Bankshares had a net margin of 21.77% and a return on equity of 11.36%. The company had revenue of $177.75 million for the quarter, compared to analysts’ expectations of $171.93 million. Equities analysts expect that Nicolet Bankshares Inc. will post 12.3 EPS for the current year.

Nicolet Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.36 per share. The ex-dividend date 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 currently 16.35%.

Wall Street Analysts Forecast Growth

NIC has been the topic of several research analyst reports. Keefe, Bruyette & Woods upped their price objective on Nicolet Bankshares from $175.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Raymond James Financial initiated coverage on Nicolet Bankshares in a research report on Tuesday, June 23rd. They issued a “market perform” rating for the company. Piper Sandler set a $194.00 target price on Nicolet Bankshares in a research note on Wednesday, July 22nd. Zacks Research upgraded Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Finally, Weiss Ratings raised Nicolet Bankshares from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $183.00.

Insider Buying and Selling at Nicolet Bankshares

In related news, Director Robert Bruce Atwell sold 2,662 shares of the business’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $170.24, for a total transaction of $453,178.88. Following the sale, the director directly owned 34,483 shares in the company, valued at approximately $5,870,385.92. The trade was a 7.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Eric James Witczak sold 342 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $171.96, for a total value of $58,810.32. Following the sale, the executive vice president directly owned 33,288 shares in the company, valued at $5,724,204.48. This trade represents a 1.02% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 4,219 shares of company stock worth $715,976. Company insiders own 7.20% of the company’s stock.

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.