Bank of New York Mellon Corp Buys 23,872 Shares of Nicolet Bankshares Inc. $NIC

Bank of New York Mellon Corp lifted its position in Nicolet Bankshares Inc. (NYSE:NIC) by 38.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,108 shares of the company’s stock after buying an additional 23,872 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.40% of Nicolet Bankshares worth $12,797,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Royal Bank of Canada boosted its stake in Nicolet Bankshares by 150.8% during the first quarter. Royal Bank of Canada now owns 13,987 shares of the company’s stock valued at $1,524,000 after buying an additional 8,410 shares during the period. AQR Capital Management LLC increased its stake in Nicolet Bankshares by 15.2% in the 1st quarter. AQR Capital Management LLC now owns 11,819 shares of the company’s stock worth $1,288,000 after acquiring an additional 1,557 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Nicolet Bankshares by 6.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,134 shares of the company’s stock valued at $886,000 after acquiring an additional 517 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Nicolet Bankshares by 6.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 29,778 shares of the company’s stock valued at $3,245,000 after purchasing an additional 1,922 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Nicolet Bankshares by 3,940.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock valued at $25,000 after buying an additional 197 shares in the last quarter. 43.06% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Robert Bruce Atwell sold 2,662 shares of the stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $170.24, for a total transaction of $453,178.88. Following the completion of the sale, the director owned 34,483 shares in the company, valued at approximately $5,870,385.92. This trade represents a 7.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Eric James Witczak sold 1,215 shares of Nicolet Bankshares stock in a transaction on Monday, July 27th. The shares were sold at an average price of $167.89, for a total transaction of $203,986.35. Following the completion of the sale, the executive vice president owned 33,630 shares in the company, valued at approximately $5,646,140.70. This represents a 3.49% 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 90 days. Company insiders own 7.20% of the company’s stock.

Nicolet Bankshares Stock Up 0.8%

NIC stock opened at $170.89 on Friday. Nicolet Bankshares Inc. has a 1-year low of $114.11 and a 1-year high of $174.00. The business has a fifty day moving average price of $156.34 and a 200-day moving average price of $150.69. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $3.63 billion, a P/E ratio of 19.40 and a beta of 0.65.

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

Nicolet Bankshares Dividend Announcement

The company 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. This represents a $1.44 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 1st. Nicolet Bankshares’s dividend payout ratio (DPR) is presently 16.35%.

Wall Street Analysts Forecast Growth

NIC has been the subject of a number of research reports. Piper Sandler set a $194.00 price objective on shares of Nicolet Bankshares in a research note on Wednesday, July 22nd. Weiss Ratings cut shares of Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Hovde Group cut their target price on shares of Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Zacks Research upgraded shares of Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research 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 for the company. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $183.00.

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.