Jupiter Topco LLC Purchases New Stake in Nicolet Bankshares Inc. $NIC

Jupiter Topco LLC acquired a new position in Nicolet Bankshares Inc. (NYSE:NIC) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 72,728 shares of the company’s stock, valued at approximately $12,030,000. Jupiter Topco LLC owned approximately 0.35% of Nicolet Bankshares as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently bought and sold shares of NIC. EverSource Wealth Advisors LLC grew its stake in shares of Nicolet Bankshares by 3,940.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock worth $25,000 after purchasing an additional 197 shares during the period. Meeder Asset Management Inc. acquired a new position in Nicolet Bankshares during the fourth quarter worth about $48,000. Clearstead Advisors LLC grew its position 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 buying an additional 297 shares during the period. Parallel Advisors LLC increased its holdings in Nicolet Bankshares by 151.9% in the first quarter. Parallel Advisors LLC now owns 607 shares of the company’s stock valued at $90,000 after buying an additional 366 shares in the last quarter. Finally, UMB Bank n.a. purchased a new position in Nicolet Bankshares in the fourth quarter valued at about $102,000. Institutional investors and hedge funds own 43.06% of the company’s stock.

Insider Buying and Selling at Nicolet Bankshares

In related news, Director Robert Bruce Atwell sold 2,662 shares of the stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $170.24, for a total transaction of $453,178.88. Following the transaction, the director directly owned 34,483 shares in the company, valued at approximately $5,870,385.92. This represents a 7.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Eric James Witczak sold 1,215 shares of the firm’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $167.89, for a total value of $203,986.35. Following the completion of the sale, the executive vice president directly owned 33,630 shares in the company, valued at approximately $5,646,140.70. The trade was a 3.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 4,219 shares of company stock valued at $715,976 over the last quarter. Insiders own 7.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NIC shares. Keefe, Bruyette & Woods upped their price target on Nicolet Bankshares from $175.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Zacks Research raised Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Piper Sandler set a $194.00 target price on Nicolet Bankshares in a research report on Wednesday, July 22nd. Weiss Ratings raised Nicolet Bankshares from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, August 17th. Finally, Raymond James Financial started coverage on Nicolet Bankshares in a research report on Tuesday, June 23rd. They issued a “market perform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $183.00.

Nicolet Bankshares Stock Performance

Shares of NIC opened at $171.97 on Friday. Nicolet Bankshares Inc. has a 1 year low of $114.11 and a 1 year high of $180.00. The company’s 50 day simple moving average is $168.99 and its 200 day simple moving average is $155.40. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 19.52 and a beta of 0.65. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.90 and a current ratio of 0.90.

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

Nicolet Bankshares Dividend Announcement

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