Handelsbanken Fonder AB Takes $728,000 Position in Nicolet Bankshares Inc. $NIC

Handelsbanken Fonder AB purchased a new position in shares of Nicolet Bankshares Inc. (NYSE:NIC) in the second quarter, HoldingsChannel.com reports. The fund purchased 4,400 shares of the company’s stock, valued at approximately $728,000.

Several other large investors have also made changes to their positions in NIC. PDT Partners LLC increased its stake in shares of Nicolet Bankshares by 1.8% in the 2nd quarter. PDT Partners LLC now owns 5,572 shares of the company’s stock valued at $688,000 after purchasing an additional 100 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Nicolet Bankshares by 4.9% during the 4th quarter. ProShare Advisors LLC now owns 2,424 shares of the company’s stock worth $294,000 after buying an additional 113 shares during the last quarter. LPL Financial LLC lifted its position in shares of Nicolet Bankshares by 4.6% during the 4th quarter. LPL Financial LLC now owns 2,836 shares of the company’s stock worth $344,000 after buying an additional 126 shares during the last quarter. Bank of Montreal Can boosted its stake in Nicolet Bankshares by 0.6% in the fourth quarter. Bank of Montreal Can now owns 23,181 shares of the company’s stock valued at $2,829,000 after buying an additional 147 shares in the last quarter. Finally, Smith Group Asset Management LLC grew its position in Nicolet Bankshares by 9.3% in the first quarter. Smith Group Asset Management LLC now owns 2,230 shares of the company’s stock valued at $331,000 after acquiring an additional 189 shares during the last quarter. Institutional investors and hedge funds own 43.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Weiss Ratings raised Nicolet Bankshares from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday. Hovde Group decreased their price target on shares of Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. Raymond James Financial initiated coverage on shares of Nicolet Bankshares in a research report on Tuesday, June 23rd. They set a “market perform” rating for the company. Keefe, Bruyette & Woods increased their price objective on shares of Nicolet Bankshares from $175.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Finally, Zacks Research upgraded shares of Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $183.00.

Insider Transactions at Nicolet Bankshares

In related news, Director Robert Bruce Atwell sold 2,662 shares of Nicolet Bankshares stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $170.24, for a total value of $453,178.88. Following the transaction, the director directly owned 34,483 shares of the company’s stock, valued at $5,870,385.92. The trade was a 7.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Eric James Witczak sold 342 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $171.96, for a total value of $58,810.32. Following the completion of the sale, the executive vice president 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 4,219 shares of company stock worth $715,976 in the last quarter. Corporate insiders own 7.20% of the company’s stock.

Nicolet Bankshares Stock Down 0.6%

NYSE:NIC opened at $171.56 on Friday. Nicolet Bankshares Inc. has a one year low of $114.11 and a one year high of $180.00. 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 company has a market cap of $3.60 billion, a PE ratio of 19.47 and a beta of 0.65. The firm’s 50 day simple moving average is $166.00 and its 200 day simple moving average is $154.51.

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

Nicolet Bankshares Dividend Announcement

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