Associated Banc Corp Cuts Stock Holdings in Nicolet Bankshares, Inc. (NYSE:NIC)

Associated Banc Corp trimmed its position in shares of Nicolet Bankshares, Inc. (NYSE:NIC) by 6.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,775 shares of the company’s stock after selling 572 shares during the quarter. Associated Banc Corp’s holdings in Nicolet Bankshares were worth $816,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NIC. New York State Teachers Retirement System purchased a new position in shares of Nicolet Bankshares during the 4th quarter valued at approximately $128,000. Quantbot Technologies LP purchased a new position in shares of Nicolet Bankshares during the 3rd quarter valued at approximately $155,000. Virtu Financial LLC purchased a new position in shares of Nicolet Bankshares during the 3rd quarter valued at approximately $264,000. Quest Partners LLC increased its holdings in shares of Nicolet Bankshares by 858.0% during the 3rd quarter. Quest Partners LLC now owns 2,922 shares of the company’s stock valued at $279,000 after purchasing an additional 2,617 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Nicolet Bankshares by 31.0% during the 3rd 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 in the last quarter. 43.06% of the stock is owned by hedge funds and other institutional investors.

Nicolet Bankshares Trading Up 2.1 %

Shares of NIC opened at $112.17 on Friday. Nicolet Bankshares, Inc. has a 52-week low of $75.24 and a 52-week high of $121.52. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The firm’s fifty day moving average is $112.62 and its two-hundred day moving average is $106.52. The stock has a market cap of $1.71 billion, a PE ratio of 13.97 and a beta of 0.76.

Nicolet Bankshares (NYSE:NIC) last announced its earnings results on Tuesday, January 21st. The company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.23. Nicolet Bankshares had a net margin of 23.83% and a return on equity of 10.95%. Research analysts forecast that Nicolet Bankshares, Inc. will post 8.18 earnings per share for the current fiscal year.

Nicolet Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.12 annualized dividend and a yield of 1.00%. Nicolet Bankshares’s dividend payout ratio (DPR) is presently 13.95%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, Director Robert Bruce Atwell sold 3,975 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $118.08, for a total transaction of $469,368.00. Following the transaction, the director now owns 30,317 shares of the company’s stock, valued at approximately $3,579,831.36. The trade was a 11.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Susan L. Merkatoris sold 1,000 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $111.27, for a total transaction of $111,270.00. Following the transaction, the director now directly owns 82,218 shares in the company, valued at approximately $9,148,396.86. The trade was a 1.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,527 shares of company stock valued at $996,674 in the last 90 days. 16.40% of the stock is owned by insiders.

About Nicolet Bankshares

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.