Jennison Associates LLC Has $28.60 Million Position in Nicolet Bankshares Inc. $NIC

Jennison Associates LLC lowered its stake in shares of Nicolet Bankshares Inc. (NYSE:NIC) by 19.2% in the second quarter, Holdings Channel reports. The firm owned 172,925 shares of the company’s stock after selling 41,002 shares during the period. Jennison Associates LLC’s holdings in Nicolet Bankshares were worth $28,600,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NIC. EverSource Wealth Advisors LLC grew its holdings in Nicolet Bankshares by 3,940.0% during 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 during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Nicolet Bankshares during the 4th quarter worth $48,000. Clearstead Advisors LLC grew its stake in Nicolet Bankshares by 192.9% in the 4th quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock valued at $55,000 after buying an additional 297 shares during the last quarter. Parallel Advisors LLC grew its stake in Nicolet Bankshares by 151.9% in the 1st quarter. Parallel Advisors LLC now owns 607 shares of the company’s stock valued at $90,000 after buying an additional 366 shares during the last quarter. Finally, UMB Bank n.a. bought a new position in Nicolet Bankshares in the 4th quarter worth $102,000. Institutional investors and hedge funds own 43.06% of the company’s stock.

Insider Activity

In related news, EVP Eric James Witczak sold 342 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $171.96, for a total transaction of $58,810.32. Following the transaction, the executive vice president directly owned 33,288 shares in the company, valued at $5,724,204.48. The trade was a 1.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert Bruce Atwell sold 2,662 shares of the business’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $170.24, for a total value of $453,178.88. Following the transaction, the director 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. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 4,219 shares of company stock valued at $715,976. 7.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on NIC. Keefe, Bruyette & Woods boosted their target price on shares of Nicolet Bankshares from $175.00 to $185.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Hovde Group lowered their price target 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. Piper Sandler set a $194.00 price objective on Nicolet Bankshares in a research note on Wednesday, July 22nd. Zacks Research raised Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Finally, Raymond James Financial initiated coverage on Nicolet Bankshares in a research note on Tuesday, June 23rd. They set a “market perform” rating for the company. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $183.00.

Nicolet Bankshares Trading Up 0.4%

Shares of NIC stock opened at $178.94 on Friday. The firm has a market capitalization of $3.75 billion, a P/E ratio of 20.31 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 $163.69 and its 200 day simple moving average is $153.58. 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 issued its quarterly earnings results on Tuesday, July 21st. The company reported $2.99 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.14. The firm had revenue of $177.75 million during the quarter, compared to the consensus estimate of $171.93 million. Nicolet Bankshares had a net margin of 21.77% and a return on equity of 11.36%. As a group, sell-side analysts predict that Nicolet Bankshares Inc. will post 12.3 EPS for the current year.

Nicolet Bankshares Dividend Announcement

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

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.