Millennium Management LLC Reduces Stock Position in Nicolet Bankshares, Inc. (NYSE:NIC)

Millennium Management LLC lowered its holdings in shares of Nicolet Bankshares, Inc. (NYSE:NIC) by 27.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,445 shares of the company’s stock after selling 5,870 shares during the quarter. Millennium Management LLC owned approximately 0.10% of Nicolet Bankshares worth $1,620,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Barclays PLC increased its holdings in shares of Nicolet Bankshares by 170.7% in the third quarter. Barclays PLC now owns 23,978 shares of the company’s stock valued at $2,291,000 after purchasing an additional 15,121 shares during the last quarter. Deutsche Bank AG boosted its holdings in Nicolet Bankshares by 51.0% in the fourth quarter. Deutsche Bank AG now owns 11,506 shares of the company’s stock valued at $1,207,000 after purchasing an additional 3,888 shares during the period. Jackson Creek Investment Advisors LLC purchased a new position in Nicolet Bankshares in the fourth quarter valued at $1,586,000. American Century Companies Inc. raised its stake in Nicolet Bankshares by 10.4% in the fourth quarter. American Century Companies Inc. now owns 31,576 shares of the company’s stock valued at $3,313,000 after buying an additional 2,984 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Nicolet Bankshares by 4.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,617 shares of the company’s stock valued at $799,000 after buying an additional 321 shares in the last quarter. Hedge funds and other institutional investors own 43.06% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Nicolet Bankshares

In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 6,192 shares of Nicolet Bankshares stock in a transaction on Wednesday, April 23rd. The shares were 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 owns 33,816 shares of the company’s stock, valued at $3,917,583.60. This trade represents a 15.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Susan L. Merkatoris sold 300 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $115.26, for a total transaction of $34,578.00. Following the transaction, the director now owns 81,918 shares in the company, valued at $9,441,868.68. This represents a 0.36% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,192 shares of company stock worth $1,153,667. 16.40% of the stock is owned by company insiders.

Nicolet Bankshares Trading Down 1.7%

NIC stock opened at $120.57 on Tuesday. Nicolet Bankshares, Inc. has a 52 week low of $76.01 and a 52 week high of $125.50. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 15.01 and a beta of 0.76. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $115.00 and a 200-day simple moving average of $112.69.

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

Nicolet Bankshares Increases Dividend

The company also recently declared 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 of this dividend is Monday, June 2nd. This represents a $1.28 annualized dividend and a dividend yield of 1.06%. This is a positive change from Nicolet Bankshares’s previous quarterly dividend of $0.28. Nicolet Bankshares’s dividend payout ratio (DPR) is presently 15.44%.

Nicolet Bankshares Company 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.