North Star Asset Management Inc. Makes New $6.23 Million Investment in Nicolet Bankshares Inc. $NIC

North Star Asset Management Inc. purchased a new stake in Nicolet Bankshares Inc. (NYSE:NIC) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 37,675 shares of the company’s stock, valued at approximately $6,231,000. North Star Asset Management Inc. owned approximately 0.18% of Nicolet Bankshares at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada grew its stake in shares of Nicolet Bankshares by 150.8% in the 1st quarter. Royal Bank of Canada now owns 13,987 shares of the company’s stock valued at $1,524,000 after buying an additional 8,410 shares during the period. AQR Capital Management LLC increased its position in Nicolet Bankshares by 15.2% in the 1st quarter. AQR Capital Management LLC now owns 11,819 shares of the company’s stock valued at $1,288,000 after buying an additional 1,557 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Nicolet Bankshares by 6.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,134 shares of the company’s stock worth $886,000 after buying an additional 517 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Nicolet Bankshares by 6.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 29,778 shares of the company’s stock worth $3,245,000 after buying an additional 1,922 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in Nicolet Bankshares by 3,940.0% in the second quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock worth $25,000 after acquiring an additional 197 shares in the last quarter. Institutional investors and hedge funds own 43.06% of the company’s stock.

Nicolet Bankshares Stock Performance

Shares of NIC opened at $171.65 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a 50 day moving average price of $168.49 and a two-hundred day moving average price of $155.28. The firm has a market capitalization of $3.60 billion, a P/E ratio of 19.48 and a beta of 0.65. Nicolet Bankshares Inc. has a 52 week low of $114.11 and a 52 week high of $180.00.

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

Nicolet Bankshares Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have commented on NIC. Raymond James Financial began coverage on 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 target price on Nicolet Bankshares in a research report on Wednesday, July 22nd. Keefe, Bruyette & Woods lifted their price target on shares of Nicolet Bankshares from $175.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Zacks Research upgraded shares of Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Finally, Weiss Ratings upgraded shares of Nicolet Bankshares from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.00.

Insider Buying and Selling at Nicolet Bankshares

In other news, Director Robert Bruce Atwell sold 2,662 shares of the company’s stock in a transaction on Friday, July 24th. The shares were 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 in the company, valued at $5,870,385.92. This represents a 7.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Eric James Witczak sold 1,215 shares of the firm’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $167.89, for a total transaction of $203,986.35. Following the transaction, the executive vice president directly owned 33,630 shares in the company, valued at $5,646,140.70. The trade was a 3.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 4,219 shares of company stock worth $715,976. Company insiders own 7.20% of the company’s stock.

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.