Nicolet Bankshares Inc. $NIC Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its stake in shares of Nicolet Bankshares Inc. (NYSE:NIC) by 371.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,641 shares of the company’s stock after purchasing an additional 7,595 shares during the period. Russell Investments Group Ltd.’s holdings in Nicolet Bankshares were worth $1,595,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of NIC. Parr Mcknight Wealth Management Group LLC purchased a new stake in shares of Nicolet Bankshares during the second quarter valued at $889,000. Fifth Third Bancorp increased its stake in Nicolet Bankshares by 2,979.7% in the 2nd quarter. Fifth Third Bancorp now owns 4,096 shares of the company’s stock worth $678,000 after purchasing an additional 3,963 shares in the last quarter. Principal Financial Group Inc. increased its stake in Nicolet Bankshares by 344.3% in the 2nd quarter. Principal Financial Group Inc. now owns 124,379 shares of the company’s stock worth $20,571,000 after purchasing an additional 96,387 shares in the last quarter. Handelsbanken Fonder AB acquired a new stake in Nicolet Bankshares during the 2nd quarter worth about $728,000. Finally, Parallel Advisors LLC raised its holdings in Nicolet Bankshares by 151.9% during the 1st quarter. Parallel Advisors LLC now owns 607 shares of the company’s stock worth $90,000 after buying an additional 366 shares during the period. 43.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Nicolet Bankshares

In related news, Director Robert Bruce Atwell sold 2,662 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $170.24, for a total transaction of $453,178.88. Following the completion of the sale, the director directly owned 34,483 shares in the company, valued at approximately $5,870,385.92. This trade represents a 7.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Eric James Witczak sold 342 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $171.96, for a total transaction of $58,810.32. Following the transaction, the executive vice president directly owned 33,288 shares in the company, valued at $5,724,204.48. The trade was a 1.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 4,219 shares of company stock valued at $715,976. 7.20% of the stock is currently owned by corporate insiders.

Nicolet Bankshares Stock Up 0.4%

Shares of Nicolet Bankshares stock opened at $178.94 on Friday. The stock has a 50-day moving average price of $163.69 and a 200 day moving average price of $153.58. The company has a market cap of $3.75 billion, a P/E ratio of 20.31 and a beta of 0.65. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.04. Nicolet Bankshares Inc. has a 1 year low of $114.11 and a 1 year high of $180.00.

Nicolet Bankshares (NYSE:NIC) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $2.99 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.14. Nicolet Bankshares had a return on equity of 11.36% and a net margin of 21.77%.The firm had revenue of $177.75 million during the quarter, compared to analyst estimates of $171.93 million. As a group, analysts expect that Nicolet Bankshares Inc. will post 12.3 EPS for the current fiscal year.

Nicolet Bankshares Dividend Announcement

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 given 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 is 16.35%.

Wall Street Analysts Forecast Growth

NIC has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of Nicolet Bankshares from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, August 3rd. Hovde Group dropped their target price on shares of Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Piper Sandler set a $194.00 price target on shares of Nicolet Bankshares in a report on Wednesday, July 22nd. Raymond James Financial initiated coverage on shares of Nicolet Bankshares in a research report on Tuesday, June 23rd. They issued a “market perform” rating for the company. Finally, Zacks Research raised shares of Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $183.00.

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.