Northern Trust Corp Raises Stock Holdings in Nicolet Bankshares, Inc. (NYSE:NIC)

Northern Trust Corp increased its position in Nicolet Bankshares, Inc. (NYSE:NIC) by 1.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 134,755 shares of the company’s stock after purchasing an additional 1,607 shares during the period. Northern Trust Corp’s holdings in Nicolet Bankshares were worth $14,137,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Sterling Capital Management LLC increased its stake in shares of Nicolet Bankshares by 748.7% in the fourth quarter. Sterling Capital Management LLC now owns 331 shares of the company’s stock worth $35,000 after buying an additional 292 shares during the period. New York State Teachers Retirement System purchased a new position in Nicolet Bankshares during the 4th quarter valued at $128,000. Summit Investment Advisors Inc. increased its position in Nicolet Bankshares by 11.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,410 shares of the company’s stock valued at $148,000 after purchasing an additional 140 shares during the period. Franklin Resources Inc. purchased a new position in Nicolet Bankshares during the 4th quarter valued at $211,000. Finally, Quantbot Technologies LP grew its position in shares of Nicolet Bankshares by 30.7% in the 4th quarter. Quantbot Technologies LP now owns 2,116 shares of the company’s stock worth $222,000 after buying an additional 497 shares during the period. 43.06% of the stock is owned by hedge funds and other institutional investors.

Nicolet Bankshares Price Performance

NIC opened at $122.60 on Friday. 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 stock has a market capitalization of $1.85 billion, a P/E ratio of 15.27 and a beta of 0.76. The company’s 50-day simple moving average is $112.38 and its two-hundred day simple moving average is $111.37. Nicolet Bankshares, Inc. has a 52-week low of $76.01 and a 52-week high of $125.05.

Nicolet Bankshares (NYSE:NIC) last posted its earnings results on Tuesday, April 15th. The company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.14. The business had revenue of $89.43 million for the quarter, compared to analysts’ expectations of $70.08 million. Nicolet Bankshares had a net margin of 23.83% and a return on equity of 10.95%. As a group, analysts predict that Nicolet Bankshares, Inc. will post 8.18 EPS for the current year.

Nicolet Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend was Monday, March 10th. Nicolet Bankshares’s dividend payout ratio (DPR) is presently 13.51%.

Insider Transactions at Nicolet Bankshares

In other Nicolet Bankshares news, Director Susan L. Merkatoris sold 300 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $115.26, for a total transaction of $34,578.00. Following the sale, the director now owns 81,918 shares in the company, valued at approximately $9,441,868.68. This trade represents a 0.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Bruce Atwell sold 3,102 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $117.65, for a total transaction of $364,950.30. Following the sale, the director now directly owns 33,816 shares of the company’s stock, valued at approximately $3,978,452.40. This trade represents a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,294 shares of company stock worth $1,518,618 in the last quarter. Company insiders own 16.40% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on NIC. Keefe, Bruyette & Woods upped their target price on shares of Nicolet Bankshares from $115.00 to $118.00 and gave the stock a “market perform” rating in a research report on Thursday, April 17th. Piper Sandler dropped their price target on shares of Nicolet Bankshares from $120.00 to $118.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Finally, Maxim Group upped their price target on shares of Nicolet Bankshares from $124.00 to $131.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd.

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.