Diversified Trust Co bought a new stake in shares of Nicolet Bankshares Inc. (NYSE:NIC – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,304 shares of the company’s stock, valued at approximately $491,000.
Other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its position in shares of Nicolet Bankshares by 3,940.0% in the second quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock valued at $25,000 after purchasing an additional 197 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Nicolet Bankshares in the 4th quarter worth about $48,000. Clearstead Advisors LLC boosted its stake in Nicolet Bankshares by 192.9% in the 4th quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock worth $55,000 after purchasing an additional 297 shares during the period. UMB Bank n.a. purchased a new position in Nicolet Bankshares during the 4th quarter valued at about $102,000. Finally, Raymond James Financial Inc. purchased a new position in Nicolet Bankshares during the 2nd quarter valued at about $133,000. Hedge funds and other institutional investors own 43.06% of the company’s stock.
Analyst Ratings Changes
NIC has been the subject of a number of analyst reports. Raymond James Financial began coverage on shares of Nicolet Bankshares in a research report on Tuesday. They issued a “market perform” rating for the company. Zacks Research raised shares of Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a report on Monday. Weiss Ratings lowered shares of Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Piper Sandler decreased their price target on shares of Nicolet Bankshares from $185.00 to $183.00 and set an “overweight” rating on the stock in a report on Wednesday, April 22nd. Finally, Hovde Group lowered their price objective on Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Nicolet Bankshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $176.50.
Nicolet Bankshares Stock Up 3.0%
Shares of NYSE NIC opened at $161.08 on Friday. Nicolet Bankshares Inc. has a 12 month low of $114.11 and a 12 month high of $163.11. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $3.42 billion, a price-to-earnings ratio of 18.88 and a beta of 0.67. The business has a 50-day moving average of $145.46 and a 200-day moving average of $143.44.
Nicolet Bankshares (NYSE:NIC – Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The company reported $2.75 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.23). The company had revenue of $134.85 million during 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%. Sell-side analysts expect that Nicolet Bankshares Inc. will post 11.75 earnings per share for the current fiscal year.
Nicolet Bankshares Increases Dividend
The business also recently disclosed 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 an increase 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 dividend payout ratio is 16.88%.
About Nicolet Bankshares
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.
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