Old Mission Investment Co LLC Invests $966,000 in Nicolet Bankshares Inc. $NIC

Old Mission Investment Co LLC purchased a new position in shares of Nicolet Bankshares Inc. (NYSE:NIC) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 5,839 shares of the company’s stock, valued at approximately $966,000.

Several other hedge funds have also recently added to or reduced their stakes in NIC. EverSource Wealth Advisors LLC boosted its position in Nicolet Bankshares by 3,940.0% during the second quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock worth $25,000 after acquiring an additional 197 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Nicolet Bankshares during the 4th quarter valued at about $48,000. Clearstead Advisors LLC raised its holdings in Nicolet Bankshares by 192.9% in the 4th quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock valued at $55,000 after acquiring an additional 297 shares during the last quarter. Parallel Advisors LLC raised its holdings in Nicolet Bankshares by 151.9% in the 1st quarter. Parallel Advisors LLC now owns 607 shares of the company’s stock valued at $90,000 after acquiring an additional 366 shares during the last quarter. Finally, UMB Bank n.a. purchased a new position in Nicolet Bankshares in the 4th quarter worth approximately $102,000. 43.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Eric 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 value of $58,810.32. Following the sale, the executive vice president directly owned 33,288 shares of the company’s stock, valued at approximately $5,724,204.48. The trade was a 1.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Atwell sold 2,662 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $170.24, for a total transaction of $453,178.88. Following the completion of the transaction, the director owned 34,483 shares in the company, valued at approximately $5,870,385.92. This represents a 7.17% 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 sold 4,219 shares of company stock worth $715,976. 7.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on NIC. Zacks Research raised Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Weiss Ratings downgraded Nicolet Bankshares from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday. Raymond James Financial started coverage on Nicolet Bankshares in a report on Tuesday, June 23rd. They set a “market perform” rating on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Nicolet Bankshares from $175.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Finally, Piper Sandler set a $194.00 price objective on shares of Nicolet Bankshares in a report on Wednesday, July 22nd. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Nicolet Bankshares currently has an average rating of “Moderate Buy” and an average target price of $183.00.

Nicolet Bankshares Price Performance

NIC stock opened at $172.32 on Friday. The business has a fifty day moving average of $170.27 and a two-hundred day moving average of $155.99. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.04. The stock has a market cap of $3.61 billion, a price-to-earnings ratio of 19.56 and a beta of 0.64. Nicolet Bankshares Inc. has a 52-week low of $114.11 and a 52-week high of $180.00.

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

Nicolet Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, September 1st. Nicolet Bankshares’s payout ratio is 16.35%.

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.