North Star Asset Management Inc. Sells 6,583 Shares of Nicolet Bankshares Inc. $NIC

North Star Asset Management Inc. lowered its position in shares of Nicolet Bankshares Inc. (NYSE:NIC) by 14.4% in the third quarter, HoldingsChannel reports. The fund owned 39,232 shares of the company’s stock after selling 6,583 shares during the period. North Star Asset Management Inc.’s holdings in Nicolet Bankshares were worth $5,277,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Royal Bank of Canada boosted its holdings in Nicolet Bankshares by 150.8% during the first quarter. Royal Bank of Canada now owns 13,987 shares of the company’s stock worth $1,524,000 after purchasing an additional 8,410 shares during the last quarter. AQR Capital Management LLC increased its stake in Nicolet Bankshares by 15.2% in the 1st quarter. AQR Capital Management LLC now owns 11,819 shares of the company’s stock valued at $1,288,000 after buying an additional 1,557 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Nicolet Bankshares by 6.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,134 shares of the company’s stock worth $886,000 after buying an additional 517 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Nicolet Bankshares by 6.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 29,778 shares of the company’s stock worth $3,245,000 after buying an additional 1,922 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Nicolet Bankshares by 8.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 6,259 shares of the company’s stock valued at $773,000 after acquiring an additional 493 shares in the last quarter. 43.06% of the stock is currently owned by institutional investors and hedge funds.

Nicolet Bankshares Price Performance

NYSE:NIC opened at $156.81 on Wednesday. The company has a market cap of $2.32 billion, a P/E ratio of 16.00 and a beta of 0.78. The firm’s fifty day moving average price is $138.46 and its two-hundred day moving average price is $132.64. Nicolet Bankshares Inc. has a one year low of $97.90 and a one year high of $162.77. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.96.

Nicolet Bankshares (NYSE:NIC) last posted its earnings results on Tuesday, January 20th. The company reported $2.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.18. Nicolet Bankshares had a net margin of 26.98% and a return on equity of 12.65%. The company had revenue of $103.99 million during the quarter, compared to analysts’ expectations of $79.67 million. Equities analysts expect that Nicolet Bankshares Inc. will post 8.18 earnings per share for the current year.

Nicolet Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be given a $0.32 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.28 annualized dividend and a dividend yield of 0.8%. Nicolet Bankshares’s dividend payout ratio is presently 13.06%.

Analyst Ratings Changes

Several analysts recently issued reports on NIC shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Nicolet Bankshares in a report on Thursday, January 22nd. Zacks Research raised Nicolet Bankshares from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 30th. Hovde Group reissued an “outperform” rating and issued a $190.00 price objective on shares of Nicolet Bankshares in a report on Tuesday, January 27th. Maxim Group raised their target price on shares of Nicolet Bankshares from $161.00 to $173.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Finally, Piper Sandler raised shares of Nicolet Bankshares from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $148.00 to $185.00 in a research report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $179.50.

Insider Buying and Selling at Nicolet Bankshares

In other news, Director Robert Bruce Atwell sold 6,396 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $155.47, for a total transaction of $994,386.12. Following the transaction, the director owned 34,054 shares in the company, valued at approximately $5,294,375.38. This trade represents a 15.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 14.20% of the company’s stock.

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.