North Star Asset Management Inc. Has $5.28 Million Stock Position in Nicolet Bankshares Inc. $NIC

North Star Asset Management Inc. lowered its stake in shares of Nicolet Bankshares Inc. (NYSE:NIC) by 14.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 39,232 shares of the company’s stock after selling 6,583 shares during the quarter. North Star Asset Management Inc. owned approximately 0.27% of Nicolet Bankshares worth $5,277,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NIC. Boston Partners raised its position in Nicolet Bankshares by 2.0% in the 2nd quarter. Boston Partners now owns 141,860 shares of the company’s stock worth $17,609,000 after purchasing an additional 2,779 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Nicolet Bankshares by 3.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 60,004 shares of the company’s stock valued at $7,409,000 after buying an additional 1,940 shares during the period. First Trust Advisors LP raised its position in shares of Nicolet Bankshares by 50.6% during the second quarter. First Trust Advisors LP now owns 519,013 shares of the company’s stock worth $64,088,000 after acquiring an additional 174,361 shares during the last quarter. Caldwell Trust Co acquired a new position in shares of Nicolet Bankshares during the second quarter valued at $1,553,000. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Nicolet Bankshares by 8.6% during the second quarter. Envestnet Asset Management Inc. now owns 6,259 shares of the company’s stock valued at $773,000 after acquiring an additional 493 shares during the period. 43.06% of the stock is owned by institutional investors.

Nicolet Bankshares Stock Up 0.5%

Shares of Nicolet Bankshares stock opened at $156.81 on Wednesday. The company has a market capitalization of $2.32 billion, a P/E ratio of 16.00 and a beta of 0.78. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.96. The business has a 50-day moving average of $138.46 and a two-hundred day moving average of $132.64. Nicolet Bankshares Inc. has a 1 year low of $97.90 and a 1 year high of $162.77.

Nicolet Bankshares (NYSE:NIC) last released its quarterly earnings data on Tuesday, January 20th. The company reported $2.73 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.18. Nicolet Bankshares had a return on equity of 12.65% and a net margin of 26.98%.The business had revenue of $103.99 million for the quarter, compared to analysts’ expectations of $79.67 million. As a group, equities analysts predict that Nicolet Bankshares Inc. will post 8.18 EPS for the current year.

Nicolet Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.28 annualized dividend and a dividend yield of 0.8%. Nicolet Bankshares’s dividend payout ratio is currently 13.06%.

Wall Street Analysts Forecast Growth

NIC has been the subject of several recent research reports. Piper Sandler raised Nicolet Bankshares from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $148.00 to $185.00 in a report on Thursday, February 19th. Zacks Research raised shares of Nicolet Bankshares from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 30th. Maxim Group increased their price objective on shares of Nicolet Bankshares from $161.00 to $173.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Hovde Group reaffirmed an “outperform” rating and set a $190.00 target price on shares of Nicolet Bankshares in a report on Tuesday, January 27th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Nicolet Bankshares in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $179.50.

Insider Activity at Nicolet Bankshares

In related news, Director Robert Bruce Atwell sold 6,396 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $155.47, for a total value of $994,386.12. Following the sale, the director directly owned 34,054 shares of the company’s stock, valued at approximately $5,294,375.38. The trade was a 15.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 14.20% of the stock is currently owned by 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.