Quantinno Capital Management LP Raises Stock Holdings in Nicolet Bankshares Inc. $NIC

Quantinno Capital Management LP boosted its position in Nicolet Bankshares Inc. (NYSE:NIC) by 684.4% in the first quarter, Holdings Channel.com reports. The firm owned 28,716 shares of the company’s stock after buying an additional 25,055 shares during the quarter. Quantinno Capital Management LP’s holdings in Nicolet Bankshares were worth $4,268,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Merit Financial Group LLC increased its stake in shares of Nicolet Bankshares by 31.2% in the 4th quarter. Merit Financial Group LLC now owns 49,314 shares of the company’s stock worth $5,982,000 after acquiring an additional 11,729 shares in the last quarter. UBS Group AG boosted its stake in Nicolet Bankshares by 61.1% during the fourth quarter. UBS Group AG now owns 49,213 shares of the company’s stock worth $5,970,000 after acquiring an additional 18,657 shares in the last quarter. AlphaQuest LLC grew its holdings in Nicolet Bankshares by 804.7% in the fourth quarter. AlphaQuest LLC now owns 16,782 shares of the company’s stock worth $2,036,000 after purchasing an additional 14,927 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in Nicolet Bankshares in the fourth quarter worth about $5,513,000. Finally, Heartland Advisors Inc. bought a new position in shares of Nicolet Bankshares during the first quarter valued at approximately $8,287,000. Institutional investors own 43.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Piper Sandler set a $194.00 target price on shares of Nicolet Bankshares in a report on Wednesday, July 22nd. Zacks Research raised Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Raymond James Financial assumed coverage on Nicolet Bankshares in a report on Tuesday, June 23rd. They issued a “market perform” rating on the stock. Weiss Ratings raised Nicolet Bankshares from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday. Finally, Keefe, Bruyette & Woods raised their price target on Nicolet Bankshares from $175.00 to $185.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Nicolet Bankshares has a consensus rating of “Moderate Buy” and a consensus price target of $183.00.

Nicolet Bankshares Trading Down 0.7%

NYSE:NIC opened at $172.76 on Friday. The company’s 50 day moving average price is $159.58 and its 200-day moving average price is $152.24. Nicolet Bankshares Inc. has a 52 week low of $114.11 and a 52 week high of $176.59. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.04. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of 19.61 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 for the quarter, beating 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 company had revenue of $177.75 million during the quarter, compared to the consensus estimate of $171.93 million. On average, equities research analysts forecast 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 issued a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.8%. Nicolet Bankshares’s dividend payout ratio (DPR) is presently 16.35%.

Insider Buying and Selling at Nicolet Bankshares

In other news, EVP Eric James Witczak sold 1,215 shares of Nicolet Bankshares stock in a transaction that occurred on Monday, July 27th. The shares were 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 $5,646,140.70. The trade was a 3.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert Bruce Atwell sold 2,662 shares of the stock in a transaction that occurred 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 approximately $5,870,385.92. This trade represents a 7.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 4,219 shares of company stock valued at $715,976 in the last 90 days. Company insiders own 7.20% of the company’s stock.

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.