Jennison Associates LLC Takes $31.79 Million Position in Nicolet Bankshares Inc. $NIC

Jennison Associates LLC bought a new position in Nicolet Bankshares Inc. (NYSE:NIC) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 213,927 shares of the company’s stock, valued at approximately $31,794,000. Jennison Associates LLC owned 1.00% of Nicolet Bankshares at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its stake in Nicolet Bankshares by 3,940.0% during the second quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock valued at $25,000 after buying an additional 197 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Nicolet Bankshares in the fourth quarter worth $48,000. Clearstead Advisors LLC increased its holdings in shares of Nicolet Bankshares by 192.9% during the fourth quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock valued at $55,000 after acquiring an additional 297 shares in the last quarter. UMB Bank n.a. bought a new position in shares of Nicolet Bankshares during the fourth quarter valued at $102,000. Finally, Raymond James Financial Inc. bought a new position in shares of Nicolet Bankshares during the second quarter valued at $133,000. 43.06% of the stock is owned by hedge funds and other institutional investors.

Nicolet Bankshares Stock Down 1.4%

Shares of Nicolet Bankshares stock opened at $167.31 on Tuesday. Nicolet Bankshares Inc. has a twelve month low of $114.11 and a twelve month high of $173.48. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.08. The company’s 50 day moving average is $151.17 and its 200 day moving average is $147.96. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 19.61 and a beta of 0.65.

Nicolet Bankshares (NYSE:NIC) last posted its earnings results on Tuesday, April 21st. The company reported $2.75 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.23). The company had revenue of $134.85 million during the quarter, compared to the consensus estimate of $129.74 million. Nicolet Bankshares had a return on equity of 11.48% and a net margin of 21.89%. Research analysts anticipate that Nicolet Bankshares Inc. will post 12.17 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Weiss Ratings lowered shares of Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Hovde Group lowered their price objective on Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Raymond James Financial assumed coverage on Nicolet Bankshares in a research note on Tuesday, June 23rd. They set a “market perform” rating on the stock. Finally, Piper Sandler decreased their price target on Nicolet Bankshares from $185.00 to $183.00 and set an “overweight” rating for the company in a research note on Wednesday, April 22nd. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Nicolet Bankshares has a consensus rating of “Moderate Buy” and an average target price of $176.50.

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.