Sippican Capital Advisors Acquires New Shares in Nicolet Bankshares Inc. $NIC

Sippican Capital Advisors bought a new stake in shares of Nicolet Bankshares Inc. (NYSE:NIC) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,727 shares of the company’s stock, valued at approximately $554,000.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Nicolet Bankshares by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 737,578 shares of the company’s stock valued at $89,468,000 after purchasing an additional 22,474 shares in the last quarter. First Trust Advisors LP lifted its holdings in Nicolet Bankshares by 4.1% during the 3rd quarter. First Trust Advisors LP now owns 540,486 shares of the company’s stock worth $72,695,000 after purchasing an additional 21,473 shares in the last quarter. State Street Corp boosted its stake in Nicolet Bankshares by 6.2% in the 4th quarter. State Street Corp now owns 458,724 shares of the company’s stock worth $55,643,000 after purchasing an additional 26,893 shares during the period. Boston Partners boosted its stake in Nicolet Bankshares by 40.6% in the 3rd quarter. Boston Partners now owns 199,396 shares of the company’s stock worth $26,789,000 after purchasing an additional 57,536 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Nicolet Bankshares by 91.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 120,218 shares of the company’s stock valued at $14,582,000 after buying an additional 57,280 shares in the last quarter. Hedge funds and other institutional investors own 43.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on NIC shares. Piper Sandler decreased their price target on Nicolet Bankshares from $185.00 to $183.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 22nd. Hovde Group cut their price objective on shares of Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Weiss Ratings cut shares of Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Zacks Research raised shares of Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Finally, Raymond James Financial started coverage on shares of Nicolet Bankshares in a research note on Tuesday, June 23rd. They issued a “market perform” rating on the stock. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Nicolet Bankshares has an average rating of “Moderate Buy” and an average target price of $176.50.

Nicolet Bankshares Stock Performance

NYSE:NIC opened at $163.11 on Tuesday. The stock has a market cap of $3.47 billion, a P/E ratio of 19.12 and a beta of 0.67. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.08. The business’s 50-day moving average price is $145.76 and its two-hundred day moving average price is $143.93. Nicolet Bankshares Inc. has a twelve month low of $114.11 and a twelve month high of $164.26.

Nicolet Bankshares (NYSE:NIC) last issued its quarterly earnings data on Tuesday, April 21st. The company reported $2.75 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.23). The business had revenue of $134.85 million for the quarter, compared to analysts’ expectations of $129.74 million. Nicolet Bankshares had a return on equity of 11.48% and a net margin of 21.89%. As a group, equities analysts predict that Nicolet Bankshares Inc. will post 11.75 EPS for the current fiscal year.

Nicolet Bankshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.36 per share. The ex-dividend date was Monday, June 1st. This is a boost from Nicolet Bankshares’s previous quarterly dividend of $0.32. This represents a $1.44 annualized dividend and a yield of 0.9%. Nicolet Bankshares’s dividend payout ratio (DPR) is presently 16.88%.

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.