Mendon Capital Advisors Corp Has $11.14 Million Holdings in Nicolet Bankshares Inc. $NIC

Mendon Capital Advisors Corp lifted its holdings in Nicolet Bankshares Inc. (NYSE:NIC) by 274.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 74,988 shares of the company’s stock after buying an additional 54,988 shares during the quarter. Nicolet Bankshares comprises 3.2% of Mendon Capital Advisors Corp’s portfolio, making the stock its 6th biggest holding. Mendon Capital Advisors Corp’s holdings in Nicolet Bankshares were worth $11,145,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. EverSource Wealth Advisors LLC raised 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 worth $25,000 after acquiring an additional 197 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Nicolet Bankshares in the 4th quarter valued at $48,000. Clearstead Advisors LLC grew its position in shares of Nicolet Bankshares by 192.9% during the 4th quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock worth $55,000 after purchasing an additional 297 shares in the last quarter. Parallel Advisors LLC raised its holdings 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 acquiring an additional 366 shares in the last quarter. Finally, UMB Bank n.a. bought a new position in Nicolet Bankshares in the 4th quarter valued at about $102,000. 43.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NIC. Hovde Group decreased their price objective on Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Weiss Ratings lowered Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Keefe, Bruyette & Woods lifted their target price on Nicolet Bankshares from $175.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday. Piper Sandler set a $194.00 price objective on shares of Nicolet Bankshares in a report on Wednesday. Finally, Zacks Research upgraded shares of Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Nicolet Bankshares presently has a consensus rating of “Moderate Buy” and an average price target of $183.00.

Nicolet Bankshares Stock Up 0.1%

NIC stock opened at $169.77 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of 19.27 and a beta of 0.65. Nicolet Bankshares Inc. has a fifty-two week low of $114.11 and a fifty-two week high of $173.48. The stock has a fifty day moving average of $153.43 and a 200-day moving average of $149.27.

Nicolet Bankshares (NYSE:NIC) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $2.99 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 analysts’ expectations of $171.93 million. Nicolet Bankshares had a net margin of 21.77% and a return on equity of 11.36%. As a group, equities research analysts predict that Nicolet Bankshares Inc. will post 12.3 earnings per share for the current year.

Nicolet Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued 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 of this dividend is Tuesday, September 1st. Nicolet Bankshares’s dividend payout ratio (DPR) is presently 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.