33,230 Shares in Nicolet Bankshares Inc. $NIC Purchased by Peregrine Capital Management LLC

Peregrine Capital Management LLC acquired a new stake in shares of Nicolet Bankshares Inc. (NYSE:NIC) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 33,230 shares of the company’s stock, valued at approximately $4,939,000. Peregrine Capital Management LLC owned approximately 0.16% of Nicolet Bankshares at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in NIC. EverSource Wealth Advisors LLC grew its stake in Nicolet Bankshares by 3,940.0% in the 2nd 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. purchased a new stake in shares of Nicolet Bankshares in the fourth quarter valued at approximately $48,000. Clearstead Advisors LLC boosted its holdings in shares of Nicolet Bankshares by 192.9% in the fourth quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock valued at $55,000 after purchasing an additional 297 shares during the period. UMB Bank n.a. bought a new position in Nicolet Bankshares in the fourth quarter worth approximately $102,000. Finally, Raymond James Financial Inc. purchased a new position in Nicolet Bankshares during the 2nd quarter worth $133,000. 43.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Piper Sandler decreased their target price on Nicolet Bankshares from $185.00 to $183.00 and set an “overweight” rating for the company in a research report on Wednesday, April 22nd. Weiss Ratings lowered Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. 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. Zacks Research raised shares of Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Finally, Raymond James Financial assumed coverage on shares of Nicolet Bankshares in a report on Tuesday, June 23rd. They set a “market perform” rating on the stock. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $176.50.

Nicolet Bankshares Stock Up 2.0%

Nicolet Bankshares stock opened at $168.67 on Thursday. Nicolet Bankshares Inc. has a 1-year low of $114.11 and a 1-year high of $169.91. The business has a fifty day moving average price of $146.16 and a 200-day moving average price of $144.43. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of 19.77 and a beta of 0.65.

Nicolet Bankshares (NYSE:NIC) last announced its earnings results on Tuesday, April 21st. The company reported $2.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.23). Nicolet Bankshares had a net margin of 21.89% and a return on equity of 11.48%. The business had revenue of $134.85 million for the quarter, compared to analyst estimates of $129.74 million. Equities research analysts forecast that Nicolet Bankshares Inc. will post 11.75 EPS for the current fiscal year.

Nicolet Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.9%. This is an increase from Nicolet Bankshares’s previous quarterly dividend of $0.32. The ex-dividend date was Monday, June 1st. Nicolet Bankshares’s dividend payout ratio is currently 16.88%.

About Nicolet Bankshares

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.