Connor Clark & Lunn Investment Management Ltd. Buys New Stake in Nicolet Bankshares, Inc. (NYSE:NIC)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Nicolet Bankshares, Inc. (NYSE:NIC) in the fourth quarter, Holdings Channel reports. The fund bought 7,418 shares of the company’s stock, valued at approximately $778,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Anchor Capital Advisors LLC lifted its position in Nicolet Bankshares by 0.4% during the fourth quarter. Anchor Capital Advisors LLC now owns 23,356 shares of the company’s stock valued at $2,450,000 after purchasing an additional 97 shares during the period. Rhumbline Advisers lifted its position in Nicolet Bankshares by 1.5% during the fourth quarter. Rhumbline Advisers now owns 19,955 shares of the company’s stock valued at $2,093,000 after purchasing an additional 299 shares during the period. Merit Financial Group LLC lifted its position in Nicolet Bankshares by 1.7% during the fourth quarter. Merit Financial Group LLC now owns 34,543 shares of the company’s stock valued at $3,624,000 after purchasing an additional 592 shares during the period. Bank of New York Mellon Corp lifted its position in Nicolet Bankshares by 1.7% during the fourth quarter. Bank of New York Mellon Corp now owns 58,247 shares of the company’s stock valued at $6,111,000 after purchasing an additional 950 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in Nicolet Bankshares by 31.0% during the third quarter. BNP Paribas Financial Markets now owns 4,269 shares of the company’s stock valued at $408,000 after purchasing an additional 1,010 shares during the period. 43.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NIC has been the subject of a number of research reports. Keefe, Bruyette & Woods boosted their target price on shares of Nicolet Bankshares from $110.00 to $115.00 and gave the company a “market perform” rating in a research report on Thursday, January 23rd. Maxim Group lifted their price objective on shares of Nicolet Bankshares from $124.00 to $131.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Finally, Piper Sandler lifted their price objective on shares of Nicolet Bankshares from $119.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd.

Insider Transactions at Nicolet Bankshares

In other news, Director Robert Bruce Atwell sold 3,102 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $117.65, for a total transaction of $364,950.30. Following the completion of the sale, the director now owns 33,816 shares of the company’s stock, valued at $3,978,452.40. The trade was a 8.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Susan L. Merkatoris sold 300 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $115.26, for a total transaction of $34,578.00. Following the transaction, the director now owns 81,918 shares in the company, valued at $9,441,868.68. The trade was a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,527 shares of company stock valued at $996,674 over the last 90 days. Corporate insiders own 16.40% of the company’s stock.

Nicolet Bankshares Stock Down 1.4 %

NIC opened at $111.14 on Friday. Nicolet Bankshares, Inc. has a fifty-two week low of $75.24 and a fifty-two week high of $121.52. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.96 and a current ratio of 0.96. The company has a fifty day moving average of $113.68 and a two-hundred day moving average of $107.00. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 13.84 and a beta of 0.76.

Nicolet Bankshares (NYSE:NIC) last released its quarterly earnings data on Tuesday, January 21st. The company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.23. Nicolet Bankshares had a net margin of 23.83% and a return on equity of 10.95%. On average, research analysts expect that Nicolet Bankshares, Inc. will post 8.18 earnings per share for the current year.

Nicolet Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a dividend of $0.28 per share. The ex-dividend date was Monday, March 10th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.01%. Nicolet Bankshares’s dividend payout ratio is currently 13.95%.

Nicolet Bankshares Profile

Nicolet Bankshares, Inc operates as the bank holding company for Nicolet National Bank that provides banking products and services for businesses and individuals in Wisconsin and Michigan. The company accepts checking, savings, and money market accounts; various certificates of deposit; and individual retirement accounts.