First Trust Advisors LP Lowers Stock Position in Nicolet Bankshares Inc. $NIC

First Trust Advisors LP lessened its holdings in shares of Nicolet Bankshares Inc. (NYSE:NIC) by 32.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 262,124 shares of the company’s stock after selling 126,364 shares during the period. First Trust Advisors LP’s holdings in Nicolet Bankshares were worth $38,957,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NIC. EverSource Wealth Advisors LLC increased its stake 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 worth $25,000 after acquiring an additional 197 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Nicolet Bankshares during the fourth quarter worth about $48,000. Clearstead Advisors LLC boosted its stake in Nicolet Bankshares by 192.9% during the fourth quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock worth $55,000 after acquiring an additional 297 shares in the last quarter. Parallel Advisors LLC grew its holdings in Nicolet Bankshares by 151.9% in the first quarter. Parallel Advisors LLC now owns 607 shares of the company’s stock worth $90,000 after purchasing an additional 366 shares during the period. Finally, UMB Bank n.a. bought a new position in shares of Nicolet Bankshares during the fourth quarter valued at approximately $102,000. 43.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NIC has been the subject of several recent research reports. Zacks Research upgraded shares of Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Piper Sandler set a $194.00 price target on Nicolet Bankshares in a research note on Wednesday, July 22nd. Hovde Group reduced their price objective on Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Weiss Ratings cut Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Finally, Keefe, Bruyette & Woods boosted their target price on Nicolet Bankshares from $175.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Five 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.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $183.00.

Nicolet Bankshares Stock Down 1.1%

NYSE:NIC opened at $167.75 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $3.56 billion, a P/E ratio of 19.04 and a beta of 0.65. Nicolet Bankshares Inc. has a fifty-two week low of $114.11 and a fifty-two week high of $173.48. The firm has a 50-day simple moving average of $153.96 and a two-hundred day simple moving average of $149.57.

Nicolet Bankshares (NYSE:NIC) last issued its earnings results on Tuesday, July 21st. The company reported $2.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.14. Nicolet Bankshares had a net margin of 21.77% and a return on equity of 11.36%. The firm had revenue of $177.75 million for the quarter, compared to the consensus estimate of $171.93 million. Analysts predict that Nicolet Bankshares Inc. will post 12.3 earnings per share for the current fiscal year.

Nicolet Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.44 annualized dividend and a yield of 0.9%. Nicolet Bankshares’s dividend payout ratio is 16.35%.

Nicolet Bankshares 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.