13,157 Shares in Nicolet Bankshares Inc. $NIC Bought by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. bought a new position in shares of Nicolet Bankshares Inc. (NYSE:NIC) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,157 shares of the company’s stock, valued at approximately $1,434,000.

Several other large investors have also added to or reduced their stakes in NIC. GAMMA Investing LLC lifted its stake in Nicolet Bankshares by 20,603.3% in the first quarter. GAMMA Investing LLC now owns 6,211 shares of the company’s stock valued at $677,000 after acquiring an additional 6,181 shares during the last quarter. HighTower Advisors LLC bought a new position in Nicolet Bankshares during the first quarter worth about $432,000. Deutsche Bank AG grew its holdings in Nicolet Bankshares by 51.0% during the fourth quarter. Deutsche Bank AG now owns 11,506 shares of the company’s stock worth $1,207,000 after purchasing an additional 3,888 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Nicolet Bankshares by 0.9% during the first quarter. The Manufacturers Life Insurance Company now owns 234,523 shares of the company’s stock worth $25,554,000 after purchasing an additional 2,031 shares during the period. Finally, Vest Financial LLC bought a new position in Nicolet Bankshares during the first quarter worth about $1,642,000. Institutional investors and hedge funds own 43.06% of the company’s stock.

Nicolet Bankshares Price Performance

NYSE:NIC opened at $135.24 on Friday. Nicolet Bankshares Inc. has a 52 week low of $90.07 and a 52 week high of $141.92. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 15.53 and a beta of 0.77. The firm’s 50-day simple moving average is $132.78 and its 200 day simple moving average is $121.95. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.96 and a current ratio of 0.96.

Nicolet Bankshares (NYSE:NIC) last released its quarterly earnings results on Tuesday, July 15th. The company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.21. Nicolet Bankshares had a net margin of 25.12% and a return on equity of 11.48%. The business had revenue of $95.74 million for the quarter, compared to analyst estimates of $72.89 million. As a group, sell-side analysts predict that Nicolet Bankshares Inc. will post 8.18 earnings per share for the current year.

Nicolet Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 2nd. Nicolet Bankshares’s payout ratio is presently 14.70%.

Insider Buying and Selling

In other news, Director Robert Bruce Atwell sold 6,904 shares of Nicolet Bankshares stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $139.47, for a total value of $962,900.88. Following the completion of the sale, the director directly owned 34,220 shares in the company, valued at approximately $4,772,663.40. The trade was a 16.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Eric James Witczak sold 1,588 shares of Nicolet Bankshares stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $139.42, for a total transaction of $221,398.96. Following the completion of the sale, the executive vice president owned 28,901 shares of the company’s stock, valued at approximately $4,029,377.42. The trade was a 5.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,056 shares of company stock valued at $2,096,949. 16.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods lifted their price target on Nicolet Bankshares from $118.00 to $135.00 and gave the stock a “market perform” rating in a report on Thursday, July 17th. Piper Sandler restated a “neutral” rating and set a $140.00 target price (up previously from $122.50) on shares of Nicolet Bankshares in a research note on Wednesday, July 16th. Maxim Group raised their target price on shares of Nicolet Bankshares from $131.00 to $161.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Finally, Wall Street Zen upgraded shares of Nicolet Bankshares from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Nicolet Bankshares presently has an average rating of “Hold” and an average target price of $145.33.

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.