Bank of America Corp DE Boosts Holdings in Nicolet Bankshares, Inc. (NYSE:NIC)

Bank of America Corp DE boosted its position in shares of Nicolet Bankshares, Inc. (NYSE:NIC) by 4.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,013 shares of the company’s stock after buying an additional 808 shares during the quarter. Bank of America Corp DE owned 0.12% of Nicolet Bankshares worth $1,995,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of NIC. Sterling Capital Management LLC lifted its position in shares of Nicolet Bankshares by 748.7% during the fourth quarter. Sterling Capital Management LLC now owns 331 shares of the company’s stock worth $35,000 after purchasing an additional 292 shares during the last quarter. New York State Teachers Retirement System bought a new stake in shares of Nicolet Bankshares during the fourth quarter worth $128,000. Summit Investment Advisors Inc. lifted its position in shares of Nicolet Bankshares by 11.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,410 shares of the company’s stock worth $148,000 after purchasing an additional 140 shares during the last quarter. Franklin Resources Inc. bought a new stake in shares of Nicolet Bankshares during the fourth quarter worth $211,000. Finally, Quantbot Technologies LP lifted its position in shares of Nicolet Bankshares by 30.7% during the fourth quarter. Quantbot Technologies LP now owns 2,116 shares of the company’s stock worth $222,000 after purchasing an additional 497 shares during the last quarter. 43.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on NIC. Keefe, Bruyette & Woods lifted their target price on Nicolet Bankshares from $115.00 to $118.00 and gave the stock a “market perform” rating in a research report on Thursday, April 17th. Piper Sandler decreased their price objective on Nicolet Bankshares from $120.00 to $118.00 and set a “neutral” rating for the company in a report on Wednesday, April 16th.

Nicolet Bankshares Stock Down 1.7%

NYSE:NIC opened at $120.57 on Tuesday. The company’s 50-day simple moving average is $115.00 and its 200-day simple moving average is $112.69. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.96 and a current ratio of 0.96. Nicolet Bankshares, Inc. has a fifty-two week low of $76.01 and a fifty-two week high of $125.50. The stock has a market capitalization of $1.82 billion, a P/E ratio of 15.01 and a beta of 0.76.

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

Nicolet Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.06%. This is an increase from Nicolet Bankshares’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, June 2nd. Nicolet Bankshares’s payout ratio is 15.44%.

Insider Activity at Nicolet Bankshares

In other news, Director Robert Bruce Atwell sold 6,192 shares of the business’s stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $115.85, for a total value of $717,343.20. Following the completion of the transaction, the director now owns 33,816 shares of the company’s stock, valued at $3,917,583.60. The trade was a 15.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Susan L. Merkatoris sold 3,700 shares of the firm’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $108.58, for a total value of $401,746.00. Following the sale, the director now directly owns 78,218 shares in the company, valued at approximately $8,492,910.44. This trade represents a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,192 shares of company stock valued at $1,153,667 in the last ninety days. Corporate insiders own 16.40% of the company’s stock.

Nicolet Bankshares Profile

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.