Royal Bank of Canada Buys 5,102 Shares of Nicolet Bankshares Inc. $NIC

Royal Bank of Canada lifted its stake in Nicolet Bankshares Inc. (NYSE:NIC) by 29.8% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 22,197 shares of the company’s stock after buying an additional 5,102 shares during the quarter. Royal Bank of Canada’s holdings in Nicolet Bankshares were worth $3,299,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Nicolet Bankshares

In other news, Director Robert Bruce Atwell sold 2,662 shares of the business’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 completion of the sale, the director directly owned 34,483 shares of the company’s stock, valued at approximately $5,870,385.92. The trade was a 7.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Eric James Witczak sold 1,215 shares of the business’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $167.89, for a total transaction of $203,986.35. Following the sale, the executive vice president directly owned 33,630 shares of the company’s stock, valued at $5,646,140.70. This represents a 3.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 4,219 shares of company stock worth $715,976 in the last ninety days. 7.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

Nicolet Bankshares Stock Performance

Nicolet Bankshares stock opened at $178.94 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.90 and a quick ratio of 0.90. Nicolet Bankshares Inc. has a 1-year low of $114.11 and a 1-year high of $180.00. The firm has a market capitalization of $3.75 billion, a P/E ratio of 20.31 and a beta of 0.65. The company’s 50-day moving average is $163.69 and its 200 day moving average is $153.58.

Nicolet Bankshares (NYSE:NIC) last announced its quarterly earnings data 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. The business had revenue of $177.75 million during the quarter, compared to the consensus estimate of $171.93 million. Nicolet Bankshares had a net margin of 21.77% and a return on equity of 11.36%. Research analysts forecast that Nicolet Bankshares Inc. will post 12.3 EPS for the current year.

Nicolet Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 1st. Nicolet Bankshares’s dividend payout ratio (DPR) is currently 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.