Aigen Investment Management LP Takes $723,000 Position in Nicolet Bankshares Inc. $NIC

Aigen Investment Management LP bought a new stake in Nicolet Bankshares Inc. (NYSE:NIC) during the 4th quarter, HoldingsChannel reports. The firm bought 5,960 shares of the company’s stock, valued at approximately $723,000.

Several other institutional investors have also modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its position in Nicolet Bankshares by 3,940.0% during the second quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock worth $25,000 after acquiring an additional 197 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in Nicolet Bankshares during the third quarter worth about $43,000. Meeder Asset Management Inc. acquired a new position in Nicolet Bankshares during the fourth quarter worth about $48,000. Clearstead Advisors LLC boosted its position in Nicolet Bankshares by 192.9% during the fourth quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock worth $55,000 after acquiring an additional 297 shares during the last quarter. Finally, UMB Bank n.a. acquired a new position in Nicolet Bankshares during the fourth quarter worth about $102,000. Institutional investors and hedge funds own 43.06% of the company’s stock.

Nicolet Bankshares Price Performance

Shares of NIC opened at $148.92 on Monday. Nicolet Bankshares Inc. has a fifty-two week low of $114.11 and a fifty-two week high of $163.11. The firm’s 50 day moving average price is $146.03 and its 200 day moving average price is $141.98. The company has a market cap of $3.16 billion, a P/E ratio of 17.46 and a beta of 0.67. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.08.

Nicolet Bankshares (NYSE:NIC) last announced its earnings results on Tuesday, April 21st. The company reported $2.75 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.23). Nicolet Bankshares had a return on equity of 11.48% and a net margin of 21.89%.The business had revenue of $134.85 million for the quarter, compared to analysts’ expectations of $129.74 million. On average, research analysts forecast that Nicolet Bankshares Inc. will post 11.75 earnings per share for the current fiscal year.

Nicolet Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.36 per share. This is an increase from Nicolet Bankshares’s previous quarterly dividend of $0.32. The ex-dividend date is Monday, June 1st. This represents a $1.44 annualized dividend and a yield of 1.0%. Nicolet Bankshares’s payout ratio is 16.88%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NIC. Weiss Ratings lowered shares of Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Piper Sandler lowered their price target on shares of Nicolet Bankshares from $185.00 to $183.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 22nd. Hovde Group lowered their price target on shares of Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Finally, Zacks Research lowered shares of Nicolet Bankshares from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 20th. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $176.50.

About Nicolet Bankshares

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.