Associated Banc Corp Reduces Stock Position in Nicolet Bankshares, Inc. (NYSE:NIC)

Associated Banc Corp decreased its holdings in Nicolet Bankshares, Inc. (NYSE:NIC) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,775 shares of the company’s stock after selling 572 shares during the period. Associated Banc Corp owned about 0.05% of Nicolet Bankshares worth $816,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new position in Nicolet Bankshares in the 3rd quarter worth about $528,000. Barclays PLC increased its stake in Nicolet Bankshares by 170.7% in the 3rd quarter. Barclays PLC now owns 23,978 shares of the company’s stock worth $2,291,000 after buying an additional 15,121 shares during the period. State Street Corp increased its stake in Nicolet Bankshares by 3.7% in the 3rd quarter. State Street Corp now owns 381,755 shares of the company’s stock worth $36,507,000 after buying an additional 13,772 shares during the period. JPMorgan Chase & Co. increased its stake in Nicolet Bankshares by 111.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 32,818 shares of the company’s stock worth $3,138,000 after buying an additional 17,314 shares during the period. Finally, Verus Wealth Management LLC bought a new position in Nicolet Bankshares during the 4th quarter worth about $551,000. 43.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Maxim Group increased their target price on shares of Nicolet Bankshares from $124.00 to $131.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Piper Sandler increased their target price on shares of Nicolet Bankshares from $119.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods increased their target price on shares of Nicolet Bankshares from $110.00 to $115.00 and gave the stock a “market perform” rating in a report on Thursday, January 23rd.

Nicolet Bankshares Stock Up 2.1 %

NYSE:NIC opened at $112.17 on Friday. Nicolet Bankshares, Inc. has a fifty-two week low of $75.24 and a fifty-two week high of $121.52. The stock has a market capitalization of $1.71 billion, a P/E ratio of 13.97 and a beta of 0.76. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.96 and a current ratio of 0.96. The company’s 50-day simple moving average is $112.62 and its 200-day simple moving average is $106.52.

Nicolet Bankshares (NYSE:NIC) last released its quarterly earnings results on Tuesday, January 21st. The company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.23. Nicolet Bankshares had a net margin of 23.83% and a return on equity of 10.95%. On average, equities analysts anticipate that Nicolet Bankshares, Inc. will post 8.18 earnings per share for the current fiscal year.

Nicolet Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Monday, March 10th. Nicolet Bankshares’s dividend payout ratio is currently 13.95%.

Insider Activity

In related news, Director Robert Bruce Atwell sold 3,975 shares of Nicolet Bankshares stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $118.08, for a total value of $469,368.00. Following the completion of the sale, the director now directly owns 30,317 shares in the company, valued at $3,579,831.36. This trade represents a 11.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Susan L. Merkatoris sold 1,000 shares of Nicolet Bankshares stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $111.27, for a total transaction of $111,270.00. Following the completion of the sale, the director now owns 82,218 shares of the company’s stock, valued at $9,148,396.86. This trade represents a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,527 shares of company stock worth $996,674. Corporate insiders own 16.40% of the company’s stock.

Nicolet Bankshares Company Profile

Nicolet Bankshares, Inc operates as the bank holding company for Nicolet National Bank that provides banking products and services for businesses and individuals in Wisconsin and Michigan. The company accepts checking, savings, and money market accounts; various certificates of deposit; and individual retirement accounts.