Fifth Third Bancorp Has $678,000 Stock Holdings in Nicolet Bankshares Inc. $NIC

Fifth Third Bancorp lifted its stake in shares of Nicolet Bankshares Inc. (NYSE:NIC) by 2,979.7% in the second quarter, Holdings Channel.com reports. The fund owned 4,096 shares of the company’s stock after acquiring an additional 3,963 shares during the quarter. Fifth Third Bancorp’s holdings in Nicolet Bankshares were worth $678,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in 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 purchasing an additional 197 shares during the period. Meeder Asset Management Inc. bought a new position in Nicolet Bankshares during the 4th quarter worth approximately $48,000. Clearstead Advisors LLC lifted its position in shares of 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. Parallel Advisors LLC lifted its position in shares of Nicolet Bankshares by 151.9% in the 1st quarter. Parallel Advisors LLC now owns 607 shares of the company’s stock worth $90,000 after purchasing an additional 366 shares during the period. Finally, UMB Bank n.a. bought a new stake in shares of Nicolet Bankshares in the 4th quarter valued at $102,000. 43.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, 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 value of $58,810.32. Following the completion of the transaction, the executive vice president directly owned 33,288 shares of the company’s stock, valued at $5,724,204.48. This trade represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Bruce Atwell sold 2,662 shares of Nicolet Bankshares stock in a transaction on Friday, July 24th. The shares were sold at an average price of $170.24, for a total value of $453,178.88. Following the completion of the transaction, the director owned 34,483 shares of the company’s stock, valued at approximately $5,870,385.92. This trade represents a 7.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 4,219 shares of company stock worth $715,976 in the last three months. Insiders own 7.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Nicolet Bankshares from $175.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Raymond James Financial began coverage on shares of Nicolet Bankshares in a research report on Tuesday, June 23rd. They set a “market perform” rating on the stock. Zacks Research upgraded Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Hovde Group lowered their price objective on Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Finally, Weiss Ratings raised Nicolet Bankshares from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, August 3rd. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.00.

Nicolet Bankshares Trading Up 0.4%

Shares of Nicolet Bankshares stock opened at $178.94 on Friday. The stock has a market capitalization of $3.75 billion, a PE ratio of 20.31 and a beta of 0.65. Nicolet Bankshares Inc. has a 52 week low of $114.11 and a 52 week high of $180.00. The stock has a 50 day moving average price of $163.69 and a two-hundred day moving average price of $153.58. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.90 and a current ratio of 0.90.

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

Nicolet Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, September 1st. Nicolet Bankshares’s 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.