Mendon Capital Advisors Corp Has $11.14 Million Stock Holdings in Nicolet Bankshares Inc. $NIC

Mendon Capital Advisors Corp lifted its stake in shares of Nicolet Bankshares Inc. (NYSE:NIC) by 274.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 74,988 shares of the company’s stock after purchasing an additional 54,988 shares during the period. Nicolet Bankshares comprises about 3.2% of Mendon Capital Advisors Corp’s investment portfolio, making the stock its 6th biggest holding. Mendon Capital Advisors Corp owned about 0.35% of Nicolet Bankshares worth $11,145,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NIC. PDT Partners LLC increased its holdings in Nicolet Bankshares by 1.8% in the second quarter. PDT Partners LLC now owns 5,572 shares of the company’s stock valued at $688,000 after buying an additional 100 shares during the last quarter. ProShare Advisors LLC lifted its holdings in Nicolet Bankshares by 4.9% during the 4th quarter. ProShare Advisors LLC now owns 2,424 shares of the company’s stock worth $294,000 after buying an additional 113 shares during the last quarter. LPL Financial LLC grew its position in shares of Nicolet Bankshares by 4.6% in the 4th quarter. LPL Financial LLC now owns 2,836 shares of the company’s stock worth $344,000 after acquiring an additional 126 shares in the last quarter. Bank of Montreal Can grew its position in shares of Nicolet Bankshares by 0.6% in the 4th quarter. Bank of Montreal Can now owns 23,181 shares of the company’s stock worth $2,829,000 after acquiring an additional 147 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Nicolet Bankshares by 3,940.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock valued at $25,000 after acquiring an additional 197 shares during the last quarter. 43.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NIC. Raymond James Financial began coverage on Nicolet Bankshares in a research report on Tuesday, June 23rd. They set a “market perform” rating on the stock. Piper Sandler set a $194.00 target price on shares of Nicolet Bankshares in a research note on Wednesday. Weiss Ratings cut shares of Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Zacks Research upgraded shares of Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Nicolet Bankshares from $175.00 to $185.00 and gave the company an “outperform” rating in a report on Thursday. 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, Nicolet Bankshares presently has an average rating of “Moderate Buy” and a consensus target price of $183.00.

Nicolet Bankshares Trading Up 0.1%

NYSE NIC opened at $169.77 on Monday. The firm’s fifty day simple moving average is $153.43 and its 200-day simple moving average is $149.27. Nicolet Bankshares Inc. has a 1-year low of $114.11 and a 1-year high of $173.48. The company has a market capitalization of $3.61 billion, a PE ratio of 19.27 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 (NYSE:NIC) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $2.99 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.14. The company had revenue of $177.75 million during the quarter, compared to analysts’ expectations of $171.93 million. Nicolet Bankshares had a return on equity of 11.36% and a net margin of 21.77%. As a group, sell-side analysts anticipate that Nicolet Bankshares Inc. will post 12.3 earnings per share for the current fiscal year.

Nicolet Bankshares Announces Dividend

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