BNP Paribas Financial Markets Cuts Position in Nicolet Bankshares, Inc. (NYSE:NIC)

BNP Paribas Financial Markets decreased its position in Nicolet Bankshares, Inc. (NYSE:NIC) by 11.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,759 shares of the company’s stock after selling 510 shares during the quarter. BNP Paribas Financial Markets’ holdings in Nicolet Bankshares were worth $394,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in NIC. Anchor Capital Advisors LLC raised its holdings in shares of Nicolet Bankshares by 0.4% in the 4th quarter. Anchor Capital Advisors LLC now owns 23,356 shares of the company’s stock valued at $2,450,000 after purchasing an additional 97 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in Nicolet Bankshares by 11.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,410 shares of the company’s stock worth $148,000 after buying an additional 140 shares during the last quarter. Advisory Research Inc. boosted its position in shares of Nicolet Bankshares by 0.3% during the 4th quarter. Advisory Research Inc. now owns 44,723 shares of the company’s stock worth $4,692,000 after acquiring an additional 155 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Nicolet Bankshares by 2.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 5,815 shares of the company’s stock valued at $610,000 after acquiring an additional 157 shares during the last quarter. Finally, Sterling Capital Management LLC raised its position in shares of Nicolet Bankshares by 748.7% during the 4th quarter. Sterling Capital Management LLC now owns 331 shares of the company’s stock worth $35,000 after acquiring an additional 292 shares in the last quarter. Hedge funds and other institutional investors own 43.06% of the company’s stock.

Nicolet Bankshares Price Performance

Shares of NYSE NIC opened at $122.28 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.14. Nicolet Bankshares, Inc. has a twelve month low of $76.01 and a twelve month high of $125.05. The stock has a 50 day moving average of $113.67 and a two-hundred day moving average of $112.24. The stock has a market cap of $1.84 billion, a P/E ratio of 15.23 and a beta of 0.76.

Nicolet Bankshares (NYSE:NIC) last announced its earnings results on Tuesday, April 15th. The company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.14. Nicolet Bankshares had a net margin of 23.83% and a return on equity of 10.95%. The business had revenue of $89.43 million for the quarter, compared to analysts’ expectations of $70.08 million. On average, research analysts forecast that Nicolet Bankshares, Inc. will post 8.18 earnings per share for the current year.

Nicolet Bankshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be paid a $0.32 dividend. The ex-dividend date is Monday, June 2nd. This is a positive change from Nicolet Bankshares’s previous quarterly dividend of $0.28. This represents a $1.28 dividend on an annualized basis and a yield of 1.05%. Nicolet Bankshares’s payout ratio is currently 15.44%.

Insider Activity

In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 6,192 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $115.85, for a total transaction of $717,343.20. Following the completion of the sale, the director now directly owns 33,816 shares of the company’s stock, valued at approximately $3,917,583.60. This trade represents a 15.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan L. Merkatoris sold 300 shares of Nicolet Bankshares stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $115.26, for a total value of $34,578.00. Following the completion of the transaction, the director now owns 81,918 shares in the company, valued at $9,441,868.68. This trade represents a 0.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,192 shares of company stock valued at $1,153,667. Insiders own 16.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on NIC shares. Keefe, Bruyette & Woods increased their target price on shares of Nicolet Bankshares from $115.00 to $118.00 and gave the company a “market perform” rating in a research report on Thursday, April 17th. Piper Sandler decreased their price objective on shares of Nicolet Bankshares from $120.00 to $118.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th.

About Nicolet Bankshares

Nicolet Bankshares, Inc operates as the bank holding company for Nicolet National Bank that provides banking products and services for businesses and individuals in Wisconsin and Michigan. The company accepts checking, savings, and money market accounts; various certificates of deposit; and individual retirement accounts.