Hsbc Holdings PLC Invests $5.38 Million in Nicolet Bankshares Inc. $NIC

Hsbc Holdings PLC purchased a new position in shares of Nicolet Bankshares Inc. (NYSE:NIC) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 32,830 shares of the company’s stock, valued at approximately $5,380,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position 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. Meeder Asset Management Inc. acquired a new stake in shares of Nicolet Bankshares during the 4th quarter valued at $48,000. Clearstead Advisors LLC grew its holdings in shares of Nicolet Bankshares by 192.9% during the 4th quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock valued at $55,000 after acquiring an additional 297 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Nicolet Bankshares by 151.9% during the 1st quarter. Parallel Advisors LLC now owns 607 shares of the company’s stock valued at $90,000 after acquiring an additional 366 shares in the last quarter. Finally, UMB Bank n.a. acquired a new position in shares of Nicolet Bankshares in the fourth quarter worth $102,000. 43.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Nicolet Bankshares Trading Up 0.3%

Shares of NIC stock opened at $171.97 on Friday. The firm has a market capitalization of $3.60 billion, a P/E ratio of 19.52 and a beta of 0.65. Nicolet Bankshares Inc. has a 1 year low of $114.11 and a 1 year high of $180.00. The firm’s fifty day simple moving average is $168.99 and its 200 day simple moving average is $155.40. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.04.

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

Nicolet Bankshares Announces Dividend

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

Insider Buying and Selling at Nicolet Bankshares

In other news, EVP Eric James Witczak sold 1,215 shares of the company’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $167.89, for a total value of $203,986.35. Following the sale, the executive vice president owned 33,630 shares of the company’s stock, valued at approximately $5,646,140.70. This represents a 3.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Bruce Atwell sold 2,662 shares of the company’s stock in a transaction dated 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 $5,870,385.92. This represents a 7.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 4,219 shares of company stock valued at $715,976 over the last quarter. Corporate 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.