Bank of New York Mellon Corp Raises Holdings in Nicolet Bankshares Inc. $NIC

Bank of New York Mellon Corp boosted its position in Nicolet Bankshares Inc. (NYSE:NIC) by 38.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 86,108 shares of the company’s stock after buying an additional 23,872 shares during the period. Bank of New York Mellon Corp’s holdings in Nicolet Bankshares were worth $12,797,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NIC. EverSource Wealth Advisors LLC raised its holdings in Nicolet Bankshares by 3,940.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock valued at $25,000 after acquiring an additional 197 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Nicolet Bankshares during the 4th quarter worth about $48,000. Clearstead Advisors LLC boosted its stake in Nicolet Bankshares by 192.9% in the fourth quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock valued at $55,000 after acquiring an additional 297 shares in the last quarter. UMB Bank n.a. acquired a new stake in shares of Nicolet Bankshares in the fourth quarter valued at approximately $102,000. Finally, Raymond James Financial Inc. acquired a new stake in Nicolet Bankshares during the 2nd quarter worth approximately $133,000. Hedge funds and other institutional investors own 43.06% of the company’s stock.

Nicolet Bankshares Price Performance

NYSE NIC opened at $170.89 on Friday. Nicolet Bankshares Inc. has a 52-week low of $114.11 and a 52-week high of $174.00. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 19.40 and a beta of 0.65. The company has a 50 day simple moving average of $156.34 and a 200-day simple moving average of $150.69.

Nicolet Bankshares (NYSE:NIC) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $2.99 EPS for the quarter, beating the consensus estimate of $2.85 by $0.14. Nicolet Bankshares had a net margin of 21.77% and a return on equity of 11.36%. The business had revenue of $177.75 million for the quarter, compared to analysts’ expectations of $171.93 million. Equities research analysts predict that Nicolet Bankshares Inc. will post 12.3 earnings per share for the current fiscal year.

Nicolet Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 1st. Nicolet Bankshares’s payout ratio is currently 16.35%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Hovde Group reduced their price objective on Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Keefe, Bruyette & Woods lifted their price objective on shares of Nicolet Bankshares from $175.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Raymond James Financial began coverage on shares of Nicolet Bankshares in a research note on Tuesday, June 23rd. They issued a “market perform” rating for the company. Piper Sandler set a $194.00 price target on Nicolet Bankshares in a report on Wednesday, July 22nd. Finally, Weiss Ratings cut shares of Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Nicolet Bankshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $183.00.

Insiders Place Their Bets

In other Nicolet Bankshares news, EVP Eric James Witczak sold 342 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $171.96, for a total transaction of $58,810.32. Following the transaction, the executive vice president directly owned 33,288 shares of the company’s stock, valued at $5,724,204.48. This represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert Bruce Atwell sold 2,662 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $170.24, for a total value of $453,178.88. Following the completion of the sale, the director owned 34,483 shares of the company’s stock, valued at approximately $5,870,385.92. This trade represents a 7.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 4,219 shares of company stock valued at $715,976 over the last quarter. 7.20% of the stock is currently owned by corporate insiders.

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.