Jupiter Topco LLC Invests $12.03 Million in Nicolet Bankshares Inc. $NIC

Jupiter Topco LLC bought a new position in Nicolet Bankshares Inc. (NYSE:NIC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 72,728 shares of the company’s stock, valued at approximately $12,030,000.

Other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its stake in Nicolet Bankshares by 3,940.0% during the second quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock worth $25,000 after acquiring an additional 197 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in Nicolet Bankshares in the fourth quarter valued at approximately $48,000. Clearstead Advisors LLC lifted its position in Nicolet Bankshares by 192.9% during the fourth quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock valued at $55,000 after buying an additional 297 shares in the last quarter. Parallel Advisors LLC lifted its position in Nicolet Bankshares by 151.9% during the first quarter. Parallel Advisors LLC now owns 607 shares of the company’s stock valued at $90,000 after buying an additional 366 shares in the last quarter. Finally, UMB Bank n.a. purchased a new stake in Nicolet Bankshares during the fourth quarter worth approximately $102,000. Hedge funds and other institutional investors own 43.06% of the company’s stock.

Insider Buying and Selling at Nicolet Bankshares

In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 2,662 shares of the stock in a transaction on Friday, July 24th. The shares were sold at an average price of $170.24, for a total transaction of $453,178.88. Following the transaction, the director directly owned 34,483 shares in the company, valued at $5,870,385.92. This represents a 7.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Eric James Witczak sold 342 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $5,724,204.48. This represents a 1.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 4,219 shares of company stock worth $715,976 over the last ninety days. 7.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

Nicolet Bankshares Price Performance

Shares of NYSE NIC opened at $171.97 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.04. Nicolet Bankshares Inc. has a fifty-two week low of $114.11 and a fifty-two week high of $180.00. The business has a 50 day moving average price of $168.99 and a two-hundred day moving average price of $155.40. The firm has a market cap of $3.60 billion, a PE ratio of 19.52 and a beta of 0.65.

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

Nicolet Bankshares Dividend Announcement

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

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.