Nicolet Bankshares Inc. $NIC Shares Acquired by Odyssean LLC

Odyssean LLC grew its holdings in Nicolet Bankshares Inc. (NYSE:NIC) by 101.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 20,012 shares of the company’s stock after acquiring an additional 10,056 shares during the quarter. Nicolet Bankshares comprises 0.5% of Odyssean LLC’s investment portfolio, making the stock its 15th biggest holding. Odyssean LLC owned about 0.10% of Nicolet Bankshares worth $3,310,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jupiter Topco LLC purchased a new stake in Nicolet Bankshares during the second quarter worth approximately $12,030,000. Hsbc Holdings PLC purchased a new position in Nicolet Bankshares in the second quarter valued at approximately $5,380,000. Canada Pension Plan Investment Board acquired a new stake in Nicolet Bankshares during the second quarter worth approximately $249,000. Legal & General Group Plc acquired a new stake in Nicolet Bankshares during the second quarter worth approximately $7,613,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Nicolet Bankshares during the 2nd quarter worth approximately $30,896,000. Institutional investors and hedge funds own 43.06% of the company’s stock.

Insider Activity

In other Nicolet Bankshares news, EVP Eric Witczak sold 1,215 shares of the stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $167.89, for a total transaction of $203,986.35. Following the completion of the sale, the executive vice president directly owned 33,630 shares of the company’s stock, valued at approximately $5,646,140.70. This trade represents a 3.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Atwell sold 2,662 shares of Nicolet Bankshares stock in a transaction that occurred 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 transaction, the director owned 34,483 shares in the company, valued at $5,870,385.92. This trade represents a 7.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 4,219 shares of company stock worth $715,976 in the last 90 days. 7.20% of the stock is currently owned by insiders.

Nicolet Bankshares Stock Up 0.8%

NIC stock opened at $172.32 on Friday. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 19.56 and a beta of 0.64. The company has a fifty day moving average price of $170.27 and a 200 day moving average price of $155.99. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.90 and a quick ratio of 0.90. Nicolet Bankshares Inc. has a 12 month low of $114.11 and a 12 month high of $180.00.

Nicolet Bankshares (NYSE:NIC) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $2.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.14. The company had revenue of $177.75 million for the quarter, compared to the consensus estimate of $171.93 million. Nicolet Bankshares had a net margin of 21.77% and a return on equity of 11.36%. Sell-side analysts expect that Nicolet Bankshares Inc. will post 12.3 earnings per share for the current 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 issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.8%. Nicolet Bankshares’s dividend payout ratio (DPR) is currently 16.35%.

Wall Street Analysts Forecast Growth

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

Nicolet Bankshares Company 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.