Vest Financial LLC Raises Stake in Nicolet Bankshares Inc. $NIC

Vest Financial LLC raised its position in shares of Nicolet Bankshares Inc. (NYSE:NIC) by 84.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 27,735 shares of the company’s stock after purchasing an additional 12,666 shares during the period. Vest Financial LLC’s holdings in Nicolet Bankshares were worth $3,425,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. KBC Group NV purchased a new position in Nicolet Bankshares during the first quarter valued at approximately $95,000. Smith Group Asset Management LLC purchased a new position in Nicolet Bankshares during the first quarter valued at approximately $210,000. Ballentine Partners LLC bought a new stake in shares of Nicolet Bankshares during the second quarter valued at approximately $231,000. Diversified Trust Co bought a new stake in shares of Nicolet Bankshares during the first quarter valued at approximately $239,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Nicolet Bankshares during the second quarter valued at approximately $247,000. Hedge funds and other institutional investors own 43.06% of the company’s stock.

Nicolet Bankshares Trading Up 3.7%

Shares of NIC opened at $135.39 on Wednesday. The company’s fifty day moving average is $133.20 and its 200 day moving average is $125.00. Nicolet Bankshares Inc. has a fifty-two week low of $97.27 and a fifty-two week high of $141.92. The stock has a market capitalization of $2.01 billion, a PE ratio of 15.54 and a beta of 0.73. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.96 and a current ratio of 0.96.

Nicolet Bankshares (NYSE:NIC) last posted its quarterly earnings data on Tuesday, July 15th. The company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.21. Nicolet Bankshares had a net margin of 25.12% and a return on equity of 11.48%. The business had revenue of $95.74 million for the quarter, compared to analysts’ expectations of $72.89 million. Sell-side analysts expect that Nicolet Bankshares Inc. will post 8.18 earnings per share for the current fiscal year.

Nicolet Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.32 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $1.28 dividend on an annualized basis and a yield of 0.9%. Nicolet Bankshares’s payout ratio is 14.70%.

Insiders Place Their Bets

In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 6,904 shares of the business’s stock in a transaction on Monday, July 21st. The shares were sold at an average price of $139.47, for a total transaction of $962,900.88. Following the transaction, the director owned 34,220 shares in the company, valued at $4,772,663.40. The trade was a 16.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Eric James Witczak sold 5,000 shares of the business’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $139.77, for a total transaction of $698,850.00. Following the transaction, the executive vice president owned 28,901 shares in the company, valued at $4,039,492.77. This trade represents a 14.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,056 shares of company stock worth $2,096,949 in the last quarter. Company insiders own 14.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NIC shares. Piper Sandler reiterated a “neutral” rating and set a $140.00 price objective (up previously from $122.50) on shares of Nicolet Bankshares in a research report on Wednesday, July 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Nicolet Bankshares in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their price objective on shares of Nicolet Bankshares from $118.00 to $135.00 and gave the company a “market perform” rating in a research report on Thursday, July 17th. Wall Street Zen upgraded shares of Nicolet Bankshares from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Finally, Maxim Group lifted their price objective on shares of Nicolet Bankshares from $131.00 to $161.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Nicolet Bankshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.33.

Nicolet Bankshares 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.