Legato Capital Management LLC Invests $446,000 in Nicolet Bankshares Inc. $NIC

Legato Capital Management LLC purchased a new position in Nicolet Bankshares Inc. (NYSE:NIC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,675 shares of the company’s stock, valued at approximately $446,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. PDT Partners LLC raised 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 worth $688,000 after purchasing an additional 100 shares during the period. ProShare Advisors LLC raised its stake in Nicolet Bankshares by 4.9% during the fourth quarter. ProShare Advisors LLC now owns 2,424 shares of the company’s stock worth $294,000 after purchasing an additional 113 shares during the period. EverSource Wealth Advisors LLC raised its stake in Nicolet Bankshares by 71.8% during the third quarter. EverSource Wealth Advisors LLC now owns 347 shares of the company’s stock worth $47,000 after purchasing an additional 145 shares during the period. Swiss National Bank raised its stake in Nicolet Bankshares by 0.8% during the third quarter. Swiss National Bank now owns 26,300 shares of the company’s stock worth $3,537,000 after purchasing an additional 200 shares during the period. Finally, California State Teachers Retirement System raised its stake in Nicolet Bankshares by 1.8% during the second quarter. California State Teachers Retirement System now owns 12,515 shares of the company’s stock worth $1,545,000 after purchasing an additional 225 shares during the period. 43.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on NIC. Piper Sandler reduced their target price on shares of Nicolet Bankshares from $185.00 to $183.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 22nd. Hovde Group reduced their target price on shares of Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Weiss Ratings downgraded shares of Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Finally, Zacks Research downgraded shares of Nicolet Bankshares from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 20th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $176.50.

Nicolet Bankshares Trading Down 3.0%

Shares of NIC stock opened at $139.79 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $2.97 billion, a P/E ratio of 16.39 and a beta of 0.70. The company has a 50 day moving average price of $146.98 and a 200 day moving average price of $140.41. Nicolet Bankshares Inc. has a fifty-two week low of $114.11 and a fifty-two week high of $163.11.

Nicolet Bankshares (NYSE:NIC) last posted its quarterly earnings results on Tuesday, April 21st. The company reported $2.75 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.23). Nicolet Bankshares had a return on equity of 11.48% and a net margin of 21.89%.The firm had revenue of $134.85 million for the quarter, compared to analyst estimates of $129.74 million. Equities research analysts predict that Nicolet Bankshares Inc. will post 11.75 EPS for the current fiscal year.

Nicolet Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a dividend of $0.36 per share. The ex-dividend date is Monday, June 1st. This represents a $1.44 annualized dividend and a dividend yield of 1.0%. This is a boost from Nicolet Bankshares’s previous quarterly dividend of $0.32. Nicolet Bankshares’s payout ratio is presently 15.01%.

Insider Buying and Selling at Nicolet Bankshares

In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 3,309 shares of the firm’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $149.82, for a total transaction of $495,754.38. Following the transaction, the director directly owned 34,054 shares of the company’s stock, valued at approximately $5,101,970.28. This trade represents a 8.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 7.20% of the company’s stock.

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.