Brandywine Global Investment Management LLC Lowers Holdings in Nicolet Bankshares Inc. $NIC

Brandywine Global Investment Management LLC reduced its stake in shares of Nicolet Bankshares Inc. (NYSE:NIC) by 3.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,269 shares of the company’s stock after selling 700 shares during the period. Brandywine Global Investment Management LLC owned 0.12% of Nicolet Bankshares worth $2,132,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. HighTower Advisors LLC purchased a new position in Nicolet Bankshares during the first quarter worth approximately $432,000. The Manufacturers Life Insurance Company grew its stake in shares of Nicolet Bankshares by 0.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 234,523 shares of the company’s stock valued at $25,554,000 after buying an additional 2,031 shares during the period. Panagora Asset Management Inc. increased its holdings in shares of Nicolet Bankshares by 85.1% during the 1st quarter. Panagora Asset Management Inc. now owns 19,250 shares of the company’s stock worth $2,097,000 after buying an additional 8,853 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Nicolet Bankshares by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 745,270 shares of the company’s stock worth $81,205,000 after buying an additional 8,147 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Nicolet Bankshares by 3.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 60,004 shares of the company’s stock worth $7,409,000 after buying an additional 1,940 shares during the period. 43.06% of the stock is currently owned by hedge funds and other institutional investors.

Nicolet Bankshares Stock Performance

Shares of NYSE:NIC opened at $122.51 on Tuesday. The business’s 50-day simple moving average is $127.12 and its 200 day simple moving average is $127.66. The company has a market cap of $1.81 billion, a P/E ratio of 13.12 and a beta of 0.76. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.96 and a current ratio of 0.96. Nicolet Bankshares Inc. has a one year low of $97.90 and a one year high of $141.92.

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

Insider Buying and Selling

In other Nicolet Bankshares news, CFO Hubert Phillip Moore, Jr. bought 240 shares of the company’s stock in a transaction dated Thursday, October 30th. The shares were acquired at an average cost of $115.84 per share, with a total value of $27,801.60. Following the completion of the transaction, the chief financial officer owned 32,947 shares in the company, valued at $3,816,580.48. The trade was a 0.73% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert J. Weyers purchased 3,000 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The stock was acquired at an average price of $115.73 per share, for a total transaction of $347,190.00. Following the purchase, the director owned 26,250 shares of the company’s stock, valued at approximately $3,037,912.50. This represents a 12.90% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 3,370 shares of company stock valued at $390,760 in the last quarter. Company insiders own 14.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NIC shares. Weiss Ratings reissued a “buy (b)” rating on shares of Nicolet Bankshares in a research report on Wednesday, October 8th. 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 report on Monday, October 27th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $153.67.

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.