Heartland Advisors Inc. Invests $8.29 Million in Nicolet Bankshares Inc. $NIC

Heartland Advisors Inc. acquired a new position in Nicolet Bankshares Inc. (NYSE:NIC) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 55,758 shares of the company’s stock, valued at approximately $8,287,000.

A number of other large investors have also recently made changes to their positions in NIC. Vanguard Group Inc. grew its stake in shares of Nicolet Bankshares by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 737,578 shares of the company’s stock valued at $89,468,000 after acquiring an additional 22,474 shares during the period. State Street Corp raised its stake in Nicolet Bankshares by 6.2% during the 4th quarter. State Street Corp now owns 458,724 shares of the company’s stock worth $55,643,000 after acquiring an additional 26,893 shares during the period. Jennison Associates LLC purchased a new position in Nicolet Bankshares during the first quarter valued at approximately $31,794,000. Boston Partners lifted its holdings in Nicolet Bankshares by 40.6% during the third quarter. Boston Partners now owns 199,396 shares of the company’s stock valued at $26,789,000 after purchasing an additional 57,536 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Nicolet Bankshares by 91.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 120,218 shares of the company’s stock worth $14,582,000 after purchasing an additional 57,280 shares during the period. 43.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NIC. Piper Sandler reduced their price objective on shares of Nicolet Bankshares from $185.00 to $183.00 and set an “overweight” rating for the company in a research note on Wednesday, April 22nd. Weiss Ratings cut shares of Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Hovde Group dropped their target price on shares of 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 upgraded 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 Nicolet Bankshares in a report on Tuesday, June 23rd. They set a “market perform” rating on the stock. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $176.50.

Nicolet Bankshares Trading Down 1.3%

NIC stock opened at $169.57 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.91 and a quick ratio of 0.91. Nicolet Bankshares Inc. has a 1-year low of $114.11 and a 1-year high of $173.48. The business has a 50 day simple moving average of $150.70 and a two-hundred day simple moving average of $147.47. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 19.88 and a beta of 0.65.

Nicolet Bankshares (NYSE:NIC) last released its quarterly earnings data 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 company had revenue of $134.85 million for the quarter, compared to the consensus estimate of $129.74 million. Research analysts anticipate that Nicolet Bankshares Inc. will post 12.17 EPS for the current fiscal year.

Nicolet Bankshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, June 1st. This is a positive change from Nicolet Bankshares’s previous quarterly dividend of $0.32. This represents a $1.44 annualized dividend and a yield of 0.8%. Nicolet Bankshares’s dividend payout ratio is 16.88%.

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.