Balyasny Asset Management L.P. Acquires Shares of 2,285 Nicolet Bankshares, Inc. (NYSE:NIC)

Balyasny Asset Management L.P. bought a new stake in Nicolet Bankshares, Inc. (NYSE:NIC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,285 shares of the company’s stock, valued at approximately $240,000.

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

Nicolet Bankshares Stock Up 0.0%

Nicolet Bankshares stock opened at $122.86 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.96. Nicolet Bankshares, Inc. has a 1-year low of $76.01 and a 1-year high of $125.05. The company has a market cap of $1.85 billion, a PE ratio of 15.30 and a beta of 0.76. The stock’s 50 day moving average price is $112.64 and its 200 day moving average price is $111.57.

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

Nicolet Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.12 dividend on an annualized basis and a yield of 0.91%. Nicolet Bankshares’s payout ratio is 13.51%.

Insiders Place Their Bets

In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 6,192 shares of the business’s stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $115.85, for a total transaction of $717,343.20. Following the sale, the director now directly owns 33,816 shares in the company, valued at approximately $3,917,583.60. The trade was a 15.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan L. Merkatoris sold 300 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $115.26, for a total value of $34,578.00. Following the sale, the director now owns 81,918 shares in the company, valued at approximately $9,441,868.68. The trade was a 0.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,294 shares of company stock worth $1,518,618. 16.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NIC has been the subject of several analyst reports. Piper Sandler cut their price target on shares of Nicolet Bankshares from $120.00 to $118.00 and set a “neutral” rating for the company in a report on Wednesday, April 16th. Keefe, Bruyette & Woods lifted their price target on Nicolet Bankshares from $115.00 to $118.00 and gave the company a “market perform” rating in a research note on Thursday, April 17th. Finally, Maxim Group lifted their price target on Nicolet Bankshares from $124.00 to $131.00 and gave the company 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.