Hsbc Holdings PLC Makes New $5.38 Million Investment in Nicolet Bankshares Inc. $NIC

Hsbc Holdings PLC bought a new position in Nicolet Bankshares Inc. (NYSE:NIC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 32,830 shares of the company’s stock, valued at approximately $5,380,000. Hsbc Holdings PLC owned about 0.16% of Nicolet Bankshares as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Canada Pension Plan Investment Board bought a new position in shares of Nicolet Bankshares during the second quarter worth about $249,000. Legal & General Group Plc bought a new stake in Nicolet Bankshares in the second quarter valued at about $7,613,000. The Manufacturers Life Insurance Company bought a new stake in Nicolet Bankshares in the second quarter valued at about $30,896,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Nicolet Bankshares during the second quarter valued at approximately $322,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in Nicolet Bankshares during the second quarter valued at approximately $1,650,000. Institutional investors and hedge funds own 43.06% of the company’s stock.

Insider Activity at Nicolet Bankshares

In other Nicolet Bankshares news, EVP Eric James Witczak sold 342 shares of the business’s 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 sale, the executive vice president directly owned 33,288 shares of the company’s stock, valued at $5,724,204.48. The trade was a 1.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Bruce Atwell sold 2,662 shares of the firm’s stock in a transaction 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 directly 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 position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 4,219 shares of company stock valued at $715,976. 7.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NIC has been the subject of several research reports. Zacks Research upgraded Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Weiss Ratings raised Nicolet Bankshares from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, August 17th. Keefe, Bruyette & Woods lifted their price objective on shares of Nicolet Bankshares from $175.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Raymond James Financial began coverage on shares of Nicolet Bankshares in a research note on Tuesday, June 23rd. They set a “market perform” rating for the company. Finally, Piper Sandler set a $194.00 target price on shares of Nicolet Bankshares in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Nicolet Bankshares has a consensus rating of “Moderate Buy” and a consensus price target of $183.00.

Nicolet Bankshares Price Performance

Shares of NYSE:NIC opened at $171.97 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. Nicolet Bankshares Inc. has a one year low of $114.11 and a one year high of $180.00. The company has a market capitalization of $3.60 billion, a PE ratio of 19.52 and a beta of 0.65. The stock has a fifty day moving average of $168.99 and a 200-day moving average of $155.40.

Nicolet Bankshares (NYSE:NIC) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $2.99 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $171.93 million. As a group, equities analysts anticipate that Nicolet Bankshares Inc. will post 12.3 EPS for the current fiscal year.

Nicolet Bankshares Announces Dividend

The company 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 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 1st. Nicolet Bankshares’s dividend payout ratio is 16.35%.

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.