Rafferty Asset Management LLC Has $1.80 Million Holdings in Nicolet Bankshares Inc. $NIC

Rafferty Asset Management LLC lifted its holdings in shares of Nicolet Bankshares Inc. (NYSE:NIC) by 47.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,394 shares of the company’s stock after buying an additional 4,311 shares during the quarter. Rafferty Asset Management LLC’s holdings in Nicolet Bankshares were worth $1,801,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. First Trust Advisors LP boosted its stake in Nicolet Bankshares by 50.6% in the second quarter. First Trust Advisors LP now owns 519,013 shares of the company’s stock valued at $64,088,000 after acquiring an additional 174,361 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Nicolet Bankshares by 485.7% in the 2nd quarter. American Century Companies Inc. now owns 184,281 shares of the company’s stock valued at $22,755,000 after purchasing an additional 152,817 shares during the period. Caldwell Trust Co acquired a new position in shares of Nicolet Bankshares in the 2nd quarter valued at $1,553,000. XTX Topco Ltd bought a new position in shares of Nicolet Bankshares in the 2nd quarter worth $1,053,000. Finally, Royal Bank of Canada grew its stake in shares of Nicolet Bankshares by 150.8% during the first quarter. Royal Bank of Canada now owns 13,987 shares of the company’s stock worth $1,524,000 after purchasing an additional 8,410 shares during the period. 43.06% of the stock is owned by institutional investors.

Nicolet Bankshares Stock Performance

Shares of NIC stock opened at $150.22 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.96 and a current ratio of 0.97. Nicolet Bankshares Inc. has a 52 week low of $97.90 and a 52 week high of $163.11. The company’s 50 day moving average price is $142.37 and its two-hundred day moving average price is $133.81. The company has a market capitalization of $2.22 billion, a P/E ratio of 15.33 and a beta of 0.77.

Nicolet Bankshares (NYSE:NIC) last released its quarterly earnings results on Tuesday, January 20th. The company reported $2.73 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.18. The company had revenue of $103.99 million during the quarter, compared to analysts’ expectations of $79.67 million. Nicolet Bankshares had a net margin of 26.98% and a return on equity of 12.49%. On average, analysts expect that Nicolet Bankshares Inc. will post 8.18 earnings per share for the current fiscal year.

Nicolet Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.28 dividend on an annualized basis and a yield of 0.9%. Nicolet Bankshares’s dividend payout ratio is 13.06%.

Insider Activity at Nicolet Bankshares

In other news, Director Robert Bruce Atwell sold 6,396 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $155.47, for a total value of $994,386.12. Following the sale, the director owned 34,054 shares of the company’s stock, valued at $5,294,375.38. The trade was a 15.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 16.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on NIC shares. Zacks Research raised Nicolet Bankshares from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 30th. Piper Sandler upgraded shares of Nicolet Bankshares from a “neutral” rating to an “overweight” rating and increased their price target for the company from $148.00 to $185.00 in a research report on Thursday, February 19th. Keefe, Bruyette & Woods boosted their price objective on shares of Nicolet Bankshares from $165.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, January 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Nicolet Bankshares in a report on Thursday, January 22nd. Finally, Maxim Group lifted their price target on shares of Nicolet Bankshares from $161.00 to $173.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to MarketBeat, Nicolet Bankshares currently has an average rating of “Buy” and an average target price of $179.50.

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.