Rafferty Asset Management LLC Has $1.80 Million Stock Holdings in Nicolet Bankshares Inc. $NIC

Rafferty Asset Management LLC increased its holdings in shares of Nicolet Bankshares Inc. (NYSE:NIC) by 47.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,394 shares of the company’s stock after acquiring an additional 4,311 shares during the period. Rafferty Asset Management LLC owned about 0.09% of Nicolet Bankshares worth $1,801,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. PDT Partners LLC lifted its stake in Nicolet Bankshares by 1.8% during the second quarter. PDT Partners LLC now owns 5,572 shares of the company’s stock worth $688,000 after purchasing an additional 100 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Nicolet Bankshares by 71.8% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 347 shares of the company’s stock worth $47,000 after buying an additional 145 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Nicolet Bankshares by 45.1% in the 3rd quarter. Parkside Financial Bank & Trust now owns 589 shares of the company’s stock worth $79,000 after buying an additional 183 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Nicolet Bankshares by 2.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 9,419 shares of the company’s stock worth $1,163,000 after buying an additional 210 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey boosted its stake in Nicolet Bankshares by 7.5% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 3,170 shares of the company’s stock valued at $391,000 after buying an additional 220 shares in the last quarter. Institutional investors own 43.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods increased their price objective on Nicolet Bankshares from $165.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, January 22nd. Maxim Group upped their target price on shares of Nicolet Bankshares from $161.00 to $173.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Zacks Research raised shares of Nicolet Bankshares from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 30th. Piper Sandler upgraded shares of Nicolet Bankshares from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $148.00 to $185.00 in a research report on Thursday, February 19th. Finally, Hovde Group reaffirmed an “outperform” rating and set a $190.00 price objective on shares of Nicolet Bankshares in a report on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $179.50.

Insider Activity at Nicolet Bankshares

In other news, Director Robert Bruce Atwell sold 6,396 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $155.47, for a total transaction of $994,386.12. Following the completion of the sale, the director owned 34,054 shares in the company, valued at $5,294,375.38. The trade was a 15.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 16.40% of the company’s stock.

Nicolet Bankshares Stock Down 2.7%

Shares of NYSE NIC opened at $150.22 on Friday. Nicolet Bankshares Inc. has a 12-month low of $97.90 and a 12-month high of $163.11. The firm’s 50-day simple moving average is $142.37 and its 200 day simple moving average is $133.81. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. The company has a market cap of $2.22 billion, a price-to-earnings ratio of 15.33 and a beta of 0.77.

Nicolet Bankshares (NYSE:NIC) last announced its earnings results on Tuesday, January 20th. The company reported $2.73 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.18. Nicolet Bankshares had a net margin of 26.98% and a return on equity of 12.49%. The company had revenue of $103.99 million during the quarter, compared to the consensus estimate of $79.67 million. On average, research analysts expect that Nicolet Bankshares Inc. will post 8.18 earnings per share for the current fiscal year.

Nicolet Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Monday, March 2nd. Nicolet Bankshares’s dividend payout ratio (DPR) is presently 13.06%.

About Nicolet Bankshares

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.