Nicolet Bankshares, Inc. (NYSE:NIC) Shares Sold by Bowman & Co S.C.

Bowman & Co S.C. lessened its stake in shares of Nicolet Bankshares, Inc. (NYSE:NIC) by 7.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,967 shares of the company’s stock after selling 1,190 shares during the period. Bowman & Co S.C. owned 0.09% of Nicolet Bankshares worth $1,201,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Mendon Capital Advisors Corp acquired a new position in shares of Nicolet Bankshares during the 4th quarter worth about $2,012,000. Johnson Financial Group Inc. raised its holdings in Nicolet Bankshares by 745.0% in the 4th quarter. Johnson Financial Group Inc. now owns 5,915 shares of the company’s stock valued at $476,000 after acquiring an additional 5,215 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Nicolet Bankshares by 3.9% in the 4th 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 last quarter. Charles Schwab Investment Management Inc. raised its holdings in Nicolet Bankshares by 2.0% in the 4th 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. Finally, Merit Financial Group LLC raised its holdings in Nicolet Bankshares by 8.0% in the 4th quarter. Merit Financial Group LLC now owns 3,331 shares of the company’s stock valued at $268,000 after acquiring an additional 246 shares during the last quarter. Institutional investors and hedge funds own 43.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NIC. Stephens cut their price objective on shares of Nicolet Bankshares from $92.00 to $88.00 and set an “equal weight” rating for the company in a report on Thursday, April 18th. Hovde Group upgraded shares of Nicolet Bankshares from a “market perform” rating to an “outperform” rating in a report on Monday, March 4th. Keefe, Bruyette & Woods increased their price objective on shares of Nicolet Bankshares from $85.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, April 18th. Finally, Piper Sandler dropped their price target on shares of Nicolet Bankshares from $88.00 to $82.50 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Nicolet Bankshares has a consensus rating of “Hold” and a consensus target price of $87.88.

Insider Buying and Selling

In related news, Director Susan L. Merkatoris sold 1,000 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $76.70, for a total transaction of $76,700.00. Following the completion of the transaction, the director now owns 88,218 shares of the company’s stock, valued at approximately $6,766,320.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Susan L. Merkatoris sold 1,000 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $76.70, for a total transaction of $76,700.00. Following the completion of the transaction, the director now owns 88,218 shares of the company’s stock, valued at approximately $6,766,320.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan L. Merkatoris sold 522 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $79.00, for a total transaction of $41,238.00. Following the sale, the director now owns 91,702 shares in the company, valued at $7,244,458. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,528 shares of company stock valued at $118,412. Company insiders own 16.40% of the company’s stock.

Nicolet Bankshares Stock Performance

Nicolet Bankshares stock opened at $78.98 on Thursday. The firm has a 50 day simple moving average of $79.78 and a 200-day simple moving average of $80.02. Nicolet Bankshares, Inc. has a 1-year low of $63.58 and a 1-year high of $86.86. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.96 and a quick ratio of 0.95. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 12.17 and a beta of 0.77.

Nicolet Bankshares (NYSE:NIC) last posted its quarterly earnings results on Tuesday, April 16th. The company reported $1.72 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.02). The firm had revenue of $82.73 million during the quarter, compared to analysts’ expectations of $81.40 million. Nicolet Bankshares had a net margin of 20.60% and a return on equity of 9.91%. On average, analysts expect that Nicolet Bankshares, Inc. will post 6.85 EPS for the current year.

Nicolet Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Monday, June 3rd were given a dividend of $0.28 per share. The ex-dividend date was Monday, June 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.42%. This is a boost from Nicolet Bankshares’s previous quarterly dividend of $0.25. Nicolet Bankshares’s dividend payout ratio (DPR) is presently 17.26%.

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.