Jennison Associates LLC Invests $31.79 Million in Nicolet Bankshares Inc. $NIC

Jennison Associates LLC acquired a new position in Nicolet Bankshares Inc. (NYSE:NIC) during the first quarter, HoldingsChannel.com reports. The fund acquired 213,927 shares of the company’s stock, valued at approximately $31,794,000.

Other large investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew 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 valued at $25,000 after buying an additional 197 shares during the period. Meeder Asset Management Inc. bought a new position in Nicolet Bankshares in the fourth quarter worth approximately $48,000. Clearstead Advisors LLC boosted its stake in shares of Nicolet Bankshares by 192.9% during the 4th quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock worth $55,000 after acquiring an additional 297 shares during the last quarter. UMB Bank n.a. purchased a new position in shares of Nicolet Bankshares during the 4th quarter worth $102,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Nicolet Bankshares during the 2nd quarter valued at $133,000. 43.06% of the stock is currently owned by institutional investors.

Nicolet Bankshares Stock Performance

NYSE:NIC opened at $167.31 on Tuesday. The firm has a market capitalization of $3.56 billion, a PE ratio of 19.61 and a beta of 0.65. The stock’s fifty day moving average is $151.17 and its 200 day moving average is $147.96. Nicolet Bankshares Inc. has a fifty-two week low of $114.11 and a fifty-two week high of $173.48. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 0.91.

Nicolet Bankshares (NYSE:NIC) last posted its quarterly earnings data on Tuesday, April 21st. The company reported $2.75 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.23). Nicolet Bankshares had a return on equity of 11.48% and a net margin of 21.89%.The firm had revenue of $134.85 million for the quarter, compared to analysts’ expectations of $129.74 million. On average, sell-side analysts anticipate that Nicolet Bankshares Inc. will post 12.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NIC has been the subject of a number of recent analyst reports. Raymond James Financial started coverage on shares of Nicolet Bankshares in a research report on Tuesday, June 23rd. They issued a “market perform” rating for the company. Piper Sandler cut their price target on Nicolet Bankshares from $185.00 to $183.00 and set an “overweight” rating for the company in a research note on Wednesday, April 22nd. Zacks Research upgraded Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Weiss Ratings cut Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Finally, Hovde Group lowered their price target on Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Nicolet Bankshares has a consensus rating of “Moderate Buy” and a consensus target price of $176.50.

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.