Jennison Associates LLC Has $28.60 Million Stock Holdings in Nicolet Bankshares Inc. $NIC

Jennison Associates LLC decreased its holdings in shares of Nicolet Bankshares Inc. (NYSE:NIC) by 19.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,925 shares of the company’s stock after selling 41,002 shares during the quarter. Jennison Associates LLC owned 0.81% of Nicolet Bankshares worth $28,600,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in Nicolet Bankshares by 32.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 819,274 shares of the company’s stock worth $121,756,000 after acquiring an additional 198,997 shares in the last quarter. Millennium Management LLC acquired a new stake in Nicolet Bankshares during the 4th quarter worth about $7,949,000. JPMorgan Chase & Co. grew its stake in Nicolet Bankshares by 247.1% during the 4th quarter. JPMorgan Chase & Co. now owns 82,920 shares of the company’s stock valued at $10,058,000 after acquiring an additional 59,031 shares in the last quarter. Boston Partners grew its stake in Nicolet Bankshares by 40.6% during the 3rd quarter. Boston Partners now owns 199,396 shares of the company’s stock valued at $26,789,000 after acquiring an additional 57,536 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Nicolet Bankshares by 91.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 120,218 shares of the company’s stock valued at $14,582,000 after purchasing an additional 57,280 shares during the period. 43.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Eric James Witczak sold 342 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $171.96, for a total transaction of $58,810.32. Following the transaction, the executive vice president owned 33,288 shares in the company, valued at $5,724,204.48. This represents a 1.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Bruce Atwell sold 2,662 shares of the firm’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $170.24, for a total transaction of $453,178.88. Following the transaction, the director owned 34,483 shares in the company, valued at $5,870,385.92. This represents a 7.17% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 4,219 shares of company stock valued at $715,976 over the last quarter. Corporate insiders own 7.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on NIC. Piper Sandler set a $194.00 price target on shares of Nicolet Bankshares in a research report on Wednesday, July 22nd. Zacks Research raised shares of Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Keefe, Bruyette & Woods upped their price objective on shares of Nicolet Bankshares from $175.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Hovde Group cut their target price on shares of Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Finally, Weiss Ratings upgraded shares of Nicolet Bankshares from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, August 3rd. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Nicolet Bankshares presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.00.

Nicolet Bankshares Stock Performance

Shares of NIC stock opened at $178.94 on Friday. Nicolet Bankshares Inc. has a fifty-two week low of $114.11 and a fifty-two week high of $180.00. The stock’s 50-day moving average is $163.69 and its two-hundred day moving average is $153.58. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $3.75 billion, a P/E ratio of 20.31 and a beta of 0.65.

Nicolet Bankshares (NYSE:NIC) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.14. The business had revenue of $177.75 million during 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%. Analysts predict that Nicolet Bankshares Inc. will post 12.3 earnings per share for the current fiscal year.

Nicolet Bankshares Announces Dividend

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

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.