Verus Wealth Management LLC Invests $551,000 in Nicolet Bankshares, Inc. (NYSE:NIC)

Verus Wealth Management LLC purchased a new position in Nicolet Bankshares, Inc. (NYSE:NIC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,250 shares of the company’s stock, valued at approximately $551,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. FMR LLC lifted its holdings in shares of Nicolet Bankshares by 0.5% in the third quarter. FMR LLC now owns 589,766 shares of the company’s stock valued at $56,399,000 after buying an additional 2,654 shares during the period. State Street Corp lifted its holdings in shares of Nicolet Bankshares by 3.7% in the third quarter. State Street Corp now owns 381,755 shares of the company’s stock valued at $36,507,000 after buying an additional 13,772 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Nicolet Bankshares by 1.6% in the third quarter. Geode Capital Management LLC now owns 303,391 shares of the company’s stock valued at $29,019,000 after buying an additional 4,911 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Nicolet Bankshares by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 116,409 shares of the company’s stock valued at $11,132,000 after buying an additional 3,650 shares during the period. Finally, Merit Financial Group LLC lifted its holdings in shares of Nicolet Bankshares by 1.7% in the fourth quarter. Merit Financial Group LLC now owns 34,543 shares of the company’s stock valued at $3,624,000 after buying an additional 592 shares during the period. Institutional investors own 43.06% of the company’s stock.

Nicolet Bankshares Stock Down 0.1 %

Shares of NIC stock opened at $110.60 on Wednesday. The stock’s 50 day simple moving average is $108.29 and its 200 day simple moving average is $101.65. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.96 and a current ratio of 0.96. Nicolet Bankshares, Inc. has a twelve month low of $73.00 and a twelve month high of $116.17. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 13.77 and a beta of 0.77.

Nicolet Bankshares (NYSE:NIC) last issued its quarterly earnings results on Tuesday, January 21st. The company reported $2.17 EPS for the quarter, topping the consensus estimate of $1.94 by $0.23. Nicolet Bankshares had a return on equity of 10.95% and a net margin of 23.83%. As a group, research analysts predict that Nicolet Bankshares, Inc. will post 8.1 EPS for the current year.

Nicolet Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Monday, December 2nd. Nicolet Bankshares’s payout ratio is presently 13.95%.

Insider Transactions at Nicolet Bankshares

In related news, EVP Brad Vincent Hutjens sold 1,516 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $112.85, for a total value of $171,080.60. Following the sale, the executive vice president now owns 29,593 shares of the company’s stock, valued at $3,339,570.05. The trade was a 4.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Bruce Atwell sold 3,446 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $113.00, for a total value of $389,398.00. Following the completion of the sale, the director now directly owns 32,831 shares in the company, valued at approximately $3,709,903. This represents a 9.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,368 shares of company stock valued at $6,733,426. 16.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Piper Sandler upped their target price on Nicolet Bankshares from $119.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Maxim Group upped their target price on Nicolet Bankshares from $124.00 to $131.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods upped their target price on Nicolet Bankshares from $110.00 to $115.00 and gave the company a “market perform” rating in a report on Thursday, January 23rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Nicolet Bankshares currently has an average rating of “Hold” and an average price target of $119.00.

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.