Bank of New York Mellon Corp Acquires 1,940 Shares of Nicolet Bankshares Inc. $NIC

Bank of New York Mellon Corp raised its holdings in Nicolet Bankshares Inc. (NYSE:NIC) by 3.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 60,004 shares of the company’s stock after buying an additional 1,940 shares during the quarter. Bank of New York Mellon Corp owned 0.40% of Nicolet Bankshares worth $7,409,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Ballentine Partners LLC acquired a new position in shares of Nicolet Bankshares during the 2nd quarter valued at $231,000. Heck Capital Advisors LLC acquired a new stake in Nicolet Bankshares in the second quarter worth $247,000. Victory Capital Management Inc. bought a new stake in Nicolet Bankshares in the first quarter valued at $288,000. KLP Kapitalforvaltning AS increased its stake in Nicolet Bankshares by 3.4% in the second quarter. KLP Kapitalforvaltning AS now owns 3,000 shares of the company’s stock valued at $370,000 after purchasing an additional 100 shares in the last quarter. Finally, HighTower Advisors LLC acquired a new position in shares of Nicolet Bankshares during the first quarter valued at about $432,000. Institutional investors and hedge funds own 43.06% of the company’s stock.

Nicolet Bankshares Price Performance

NIC stock opened at $119.84 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.96 and a current ratio of 0.96. The business has a 50-day simple moving average of $127.61 and a two-hundred day simple moving average of $127.54. The company has a market capitalization of $1.77 billion, a P/E ratio of 12.83 and a beta of 0.76. Nicolet Bankshares Inc. has a 52-week low of $97.90 and a 52-week high of $141.92.

Nicolet Bankshares (NYSE:NIC) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $2.66 EPS for the quarter, topping the consensus estimate of $2.34 by $0.32. The firm had revenue of $102.88 million during the quarter, compared to the consensus estimate of $76.83 million. Nicolet Bankshares had a return on equity of 12.08% and a net margin of 26.39%. Research analysts expect that Nicolet Bankshares Inc. will post 8.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Keefe, Bruyette & Woods upgraded Nicolet Bankshares from a “market perform” rating to an “outperform” rating and set a $160.00 target price for the company in a research note on Monday, October 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Nicolet Bankshares in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Nicolet Bankshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $153.67.

Insider Buying and Selling at Nicolet Bankshares

In other news, CFO Hubert Phillip Moore, Jr. acquired 240 shares of Nicolet Bankshares stock in a transaction on Thursday, October 30th. The stock was acquired at an average cost of $115.84 per share, with a total value of $27,801.60. Following the transaction, the chief financial officer owned 32,947 shares of the company’s stock, valued at approximately $3,816,580.48. This trade represents a 0.73% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Eric James Witczak sold 1,588 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $139.42, for a total transaction of $221,398.96. Following the completion of the sale, the executive vice president owned 28,901 shares of the company’s stock, valued at approximately $4,029,377.42. This trade represents a 5.21% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have purchased 3,370 shares of company stock worth $390,760. Corporate insiders own 16.40% of the company’s stock.

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.