Deutsche Bank AG Cuts Stock Position in Nicolet Bankshares Inc. $NIC

Deutsche Bank AG trimmed its position in shares of Nicolet Bankshares Inc. (NYSE:NIC) by 9.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,415 shares of the company’s stock after selling 1,091 shares during the quarter. Deutsche Bank AG owned approximately 0.07% of Nicolet Bankshares worth $1,135,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in NIC. Point72 Asset Management L.P. purchased a new stake in shares of Nicolet Bankshares during the fourth quarter worth approximately $61,000. KBC Group NV purchased a new stake in shares of Nicolet Bankshares during the first quarter worth approximately $95,000. Smith Group Asset Management LLC purchased a new stake in shares of Nicolet Bankshares during the first quarter worth approximately $210,000. Diversified Trust Co purchased a new stake in shares of Nicolet Bankshares during the first quarter worth approximately $239,000. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Nicolet Bankshares during the fourth quarter worth approximately $240,000. 43.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Nicolet Bankshares

In other news, Director Robert Bruce Atwell sold 6,904 shares of the company’s stock in a transaction on Monday, July 21st. The stock was sold at an average price of $139.47, for a total value of $962,900.88. Following the transaction, the director owned 34,220 shares of the company’s stock, valued at $4,772,663.40. This represents a 16.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Eric James Witczak sold 5,000 shares of the company’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $139.77, for a total value of $698,850.00. Following the completion of the transaction, the executive vice president directly owned 28,901 shares in the company, valued at approximately $4,039,492.77. This trade represents a 14.75% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,238 shares of company stock worth $2,427,488. Corporate insiders own 16.40% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Maxim Group boosted their price target on Nicolet Bankshares from $131.00 to $161.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. Keefe, Bruyette & Woods boosted their price target on Nicolet Bankshares from $118.00 to $135.00 and gave the stock a “market perform” rating in a research report on Thursday, July 17th. Piper Sandler restated a “neutral” rating and issued a $140.00 target price (up from $122.50) on shares of Nicolet Bankshares in a report on Wednesday, July 16th. Finally, Wall Street Zen upgraded Nicolet Bankshares from a “sell” rating to a “hold” rating in a report on Friday, July 18th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $145.33.

Nicolet Bankshares Stock Performance

Shares of Nicolet Bankshares stock opened at $136.18 on Friday. Nicolet Bankshares Inc. has a 52 week low of $90.07 and a 52 week high of $141.92. The business’s fifty day simple moving average is $128.70 and its 200-day simple moving average is $120.15. The firm has a market cap of $2.02 billion, a PE ratio of 15.63 and a beta of 0.77. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.11.

Nicolet Bankshares (NYSE:NIC) last announced its quarterly earnings results on Tuesday, July 15th. The company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.14 by $0.21. Nicolet Bankshares had a return on equity of 11.48% and a net margin of 25.12%.The business had revenue of $95.74 million for the quarter, compared to analyst estimates of $72.89 million. Equities analysts forecast that Nicolet Bankshares Inc. will post 8.18 earnings per share for the current year.

Nicolet Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. Nicolet Bankshares’s dividend payout ratio is 14.70%.

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.