Sippican Capital Advisors Buys New Shares in Nicolet Bankshares Inc. $NIC

Sippican Capital Advisors purchased a new stake in shares of Nicolet Bankshares Inc. (NYSE:NIC) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,727 shares of the company’s stock, valued at approximately $554,000.

Several other hedge funds have also recently added to or reduced their stakes in NIC. Millennium Management LLC purchased a new position in shares of Nicolet Bankshares in the 4th quarter worth about $7,949,000. JPMorgan Chase & Co. increased its position in shares of Nicolet Bankshares by 247.1% during the 4th quarter. JPMorgan Chase & Co. now owns 82,920 shares of the company’s stock valued at $10,058,000 after purchasing an additional 59,031 shares during the last quarter. Boston Partners raised its holdings in shares of Nicolet Bankshares by 40.6% during the 3rd quarter. Boston Partners now owns 199,396 shares of the company’s stock valued at $26,789,000 after buying an additional 57,536 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Nicolet Bankshares by 91.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 120,218 shares of the company’s stock valued at $14,582,000 after buying an additional 57,280 shares in the last quarter. Finally, Tudor Investment Corp ET AL lifted its position in Nicolet Bankshares by 196.0% in the 4th quarter. Tudor Investment Corp ET AL now owns 84,708 shares of the company’s stock worth $10,275,000 after buying an additional 56,086 shares during the last quarter. Institutional investors own 43.06% of the company’s stock.

Nicolet Bankshares Price Performance

NIC opened at $163.11 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 0.91. Nicolet Bankshares Inc. has a 52-week low of $114.11 and a 52-week high of $164.26. The stock has a market capitalization of $3.47 billion, a PE ratio of 19.12 and a beta of 0.67. The stock’s 50 day moving average price is $145.76 and its 200-day moving average price is $143.93.

Nicolet Bankshares (NYSE:NIC) last announced its earnings results on Tuesday, April 21st. The company reported $2.75 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.23). Nicolet Bankshares had a net margin of 21.89% and a return on equity of 11.48%. The business had revenue of $134.85 million for the quarter, compared to the consensus estimate of $129.74 million. On average, equities research analysts predict that Nicolet Bankshares Inc. will post 11.75 EPS for the current year.

Nicolet Bankshares Increases Dividend

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

Analysts Set New Price Targets

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

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.