Royal Bank of Canada Raises Stock Holdings in Nicolet Bankshares Inc. $NIC

Royal Bank of Canada boosted its position in Nicolet Bankshares Inc. (NYSE:NIC) by 29.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,197 shares of the company’s stock after purchasing an additional 5,102 shares during the quarter. Royal Bank of Canada owned approximately 0.10% of Nicolet Bankshares worth $3,299,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its position in shares of Nicolet Bankshares by 3,940.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock worth $25,000 after buying an additional 197 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Nicolet Bankshares in the 4th quarter worth about $48,000. Clearstead Advisors LLC lifted its position in Nicolet Bankshares by 192.9% during the 4th quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock valued at $55,000 after acquiring an additional 297 shares during the period. Parallel Advisors LLC lifted its position in Nicolet Bankshares by 151.9% during the 1st quarter. Parallel Advisors LLC now owns 607 shares of the company’s stock valued at $90,000 after acquiring an additional 366 shares during the period. Finally, UMB Bank n.a. bought a new stake in Nicolet Bankshares during the fourth quarter worth about $102,000. Hedge funds and other institutional investors own 43.06% of the company’s stock.

Nicolet Bankshares Price Performance

Shares of NYSE:NIC opened at $178.94 on Friday. The company has a market capitalization of $3.75 billion, a P/E ratio of 20.31 and a beta of 0.65. Nicolet Bankshares Inc. has a 1-year low of $114.11 and a 1-year high of $180.00. The firm’s 50 day simple moving average is $163.69 and its two-hundred day simple moving average is $153.58. 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 (NYSE:NIC) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $2.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.14. The firm had revenue of $177.75 million during the quarter, compared to analysts’ expectations of $171.93 million. Nicolet Bankshares had a net margin of 21.77% and a return on equity of 11.36%. Research analysts expect that Nicolet Bankshares Inc. will post 12.3 EPS for the current fiscal year.

Nicolet Bankshares Announces Dividend

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

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 stock was sold at an average price of $171.96, for a total value of $58,810.32. Following the completion of the sale, the executive vice president owned 33,288 shares in the company, valued at approximately $5,724,204.48. This represents a 1.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert Bruce Atwell sold 2,662 shares of the firm’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $170.24, for a total value of $453,178.88. Following the sale, the director directly owned 34,483 shares in the company, valued at approximately $5,870,385.92. This represents a 7.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 4,219 shares of company stock valued at $715,976 in the last quarter. 7.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on NIC. Piper Sandler set a $194.00 price objective on shares of Nicolet Bankshares in a report on Wednesday, July 22nd. Keefe, Bruyette & Woods lifted their target price on shares of Nicolet Bankshares from $175.00 to $185.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Zacks Research raised 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 (b+)” rating in a research report on Monday, August 3rd. Finally, Hovde Group lowered their price objective on Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.