Nuveen LLC Buys New Position in Nicolet Bankshares Inc. $NIC

Key Points

• Nuveen LLC acquired 34,456 shares of Nicolet Bankshares, valued at approximately $3.75 million, increasing institutional ownership in the company to 43.06%.
• Insider transactions reveal that Director Robert Bruce Atwell sold 6,904 shares, representing a 16.79% decrease in his ownership.
• Nicolet Bankshares announced a quarterly dividend of $0.32 per share, with a yield of 0.9%, to be paid on September 15th to shareholders of record.

Nuveen LLC bought a new position in Nicolet Bankshares Inc. (NYSE:NIC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 34,456 shares of the company's stock, valued at approximately $3,754,000. Nuveen LLC owned about 0.23% of Nicolet Bankshares at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in NIC. Envestnet Asset Management Inc. lifted its holdings in shares of Nicolet Bankshares by 2.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,815 shares of the company's stock worth $610,000 after acquiring an additional 157 shares during the last quarter. Barclays PLC grew its holdings in shares of Nicolet Bankshares by 15.1% during the fourth quarter. Barclays PLC now owns 27,589 shares of the company's stock worth $2,894,000 after purchasing an additional 3,611 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Nicolet Bankshares by 3.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 641,740 shares of the company's stock worth $67,325,000 after purchasing an additional 21,819 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of Nicolet Bankshares by 5.8% during the fourth quarter. MetLife Investment Management LLC now owns 8,101 shares of the company's stock worth $850,000 after purchasing an additional 442 shares during the last quarter. Finally, State of Tennessee Department of Treasury bought a new stake in shares of Nicolet Bankshares during the fourth quarter worth about $246,000. Institutional investors own 43.06% of the company's stock.

Insider Activity

In other news, Director Robert Bruce Atwell sold 6,904 shares of Nicolet Bankshares stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $139.47, for a total value of $962,900.88. Following the completion of the transaction, the director directly owned 34,220 shares of the company's stock, valued at approximately $4,772,663.40. This trade represents a 16.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Eric James Witczak sold 5,000 shares of the company's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $139.77, for a total value of $698,850.00. Following the sale, the executive vice president owned 28,901 shares in the company, valued at approximately $4,039,492.77. The trade was a 14.75% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,182 shares of company stock valued at $2,466,754. Corporate insiders own 16.40% of the company's stock.

Nicolet Bankshares Trading Down 0.5%

Shares of NIC traded down $0.76 during mid-day trading on Friday, reaching $137.84. 41,415 shares of the company were exchanged, compared to its average volume of 67,092. Nicolet Bankshares Inc. has a 52 week low of $90.07 and a 52 week high of $141.92. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $2.05 billion, a PE ratio of 15.83 and a beta of 0.77. The business has a 50 day simple moving average of $130.80 and a two-hundred day simple moving average of $120.85.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The company reported $2.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.14 by $0.21. Nicolet Bankshares had a return on equity of 11.48% and a net margin of 25.12%.The company had revenue of $95.74 million during the quarter, compared to the consensus estimate of $72.89 million. On average, analysts predict that Nicolet Bankshares Inc. will post 8.18 earnings per share for the current fiscal year.

Nicolet Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.32 per share. 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 dividend payout ratio (DPR) is 14.70%.

Wall Street Analyst Weigh In

NIC has been the topic of several research reports. Maxim Group boosted their price target on Nicolet Bankshares from $131.00 to $161.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Keefe, Bruyette & Woods boosted 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. Wall Street Zen upgraded Nicolet Bankshares from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Finally, Piper Sandler restated a "neutral" rating and set a $140.00 price target (up from $122.50) on shares of Nicolet Bankshares in a report on Wednesday, July 16th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target 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.