3,810 Shares in Nicolet Bankshares Inc. $NIC Acquired by Midwest Professional Planners LTD.

Midwest Professional Planners LTD. acquired a new stake in shares of Nicolet Bankshares Inc. (NYSE:NIC) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 3,810 shares of the company’s stock, valued at approximately $566,000.

A number of other institutional investors have also recently added to or reduced their stakes in NIC. Bank of New York Mellon Corp grew its position in Nicolet Bankshares by 38.4% in the first quarter. Bank of New York Mellon Corp now owns 86,108 shares of the company’s stock worth $12,797,000 after acquiring an additional 23,872 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of Nicolet Bankshares during the 1st quarter valued at $259,000. Principal Financial Group Inc. raised its holdings in shares of Nicolet Bankshares by 67.1% during the 1st quarter. Principal Financial Group Inc. now owns 27,992 shares of the company’s stock valued at $4,160,000 after purchasing an additional 11,242 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Nicolet Bankshares by 4.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 7,300 shares of the company’s stock valued at $1,085,000 after purchasing an additional 320 shares during the last quarter. Finally, Keybank National Association OH acquired a new stake in shares of Nicolet Bankshares in the 1st quarter valued at $347,000. 43.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NIC shares. Hovde Group lowered their target price on shares of Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Raymond James Financial began coverage on Nicolet Bankshares in a research report on Tuesday, June 23rd. They issued a “market perform” rating for the company. Zacks Research upgraded Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Weiss Ratings lowered Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Finally, Piper Sandler cut their price objective on Nicolet Bankshares from $185.00 to $183.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 22nd. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Nicolet Bankshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $176.50.

Nicolet Bankshares Price Performance

NYSE NIC opened at $165.45 on Thursday. Nicolet Bankshares Inc. has a 1 year low of $114.11 and a 1 year high of $170.82. The company has a fifty day simple moving average of $149.75 and a 200 day simple moving average of $146.98. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The company has a market cap of $3.52 billion, a P/E ratio of 19.40 and a beta of 0.65.

Nicolet Bankshares (NYSE:NIC) last announced its earnings results on Tuesday, April 21st. The company reported $2.75 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.23). The firm had revenue of $134.85 million during the quarter, compared to the consensus estimate of $129.74 million. Nicolet Bankshares had a return on equity of 11.48% and a net margin of 21.89%. On average, sell-side analysts predict that Nicolet Bankshares Inc. will post 12.17 EPS for the current year.

Nicolet Bankshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.36 dividend. The ex-dividend date was Monday, June 1st. This is a boost from Nicolet Bankshares’s previous quarterly dividend of $0.32. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.9%. Nicolet Bankshares’s dividend payout ratio is presently 16.88%.

Nicolet Bankshares Profile

Nicolet Bankshares, Inc is a bank holding company headquartered in Green Bay, Wisconsin. Through its subsidiary, Nicolet National Bank, it provides a range of commercial and consumer banking services to businesses, individuals and nonprofit organizations across northeastern Wisconsin and the Upper Peninsula of Michigan. The company’s branch network, digital banking platform and commercial lending centers support its focus on community banking and regional growth.

The company offers deposit products such as checking, savings and money market accounts, alongside consumer and commercial lending solutions.