California State Teachers Retirement System lessened its stake in Nicolet Bankshares Inc. (NYSE:NIC - Free Report) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,743 shares of the company's stock after selling 601 shares during the quarter. California State Teachers Retirement System owned 0.12% of Nicolet Bankshares worth $4,092,245 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in Nicolet Bankshares by 344.3% in the second quarter. Principal Financial Group Inc. now owns 124,379 shares of the company's stock valued at $20,571,000 after acquiring an additional 96,387 shares in the last quarter. BlackRock Inc. raised its stake in Nicolet Bankshares by 86.3% during the 2nd quarter. BlackRock Inc. now owns 3,027,246 shares of the company's stock valued at $500,676,000 after acquiring an additional 1,402,419 shares during the last quarter. Heartland Advisors Inc. purchased a new stake in shares of Nicolet Bankshares in the 2nd quarter worth about $9,222,000. Mendon Capital Advisors Corp increased its holdings in Nicolet Bankshares by 274.9% in the 1st quarter. Mendon Capital Advisors Corp now owns 74,988 shares of the company's stock valued at $11,145,000 after purchasing an additional 54,988 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of Nicolet Bankshares by 53.2% during the first quarter. Swiss National Bank now owns 40,300 shares of the company's stock worth $5,989,000 after purchasing an additional 14,000 shares during the period. 43.06% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research analysts recently weighed in on NIC shares. Zacks Research raised Nicolet Bankshares from a "strong sell" rating to a "hold" rating in a research note on Monday, June 22nd. Piper Sandler set a $194.00 target price on shares of Nicolet Bankshares in a report on Wednesday, July 22nd. Keefe, Bruyette & Woods boosted their price target on shares of Nicolet Bankshares from $175.00 to $185.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. Weiss Ratings cut Nicolet Bankshares from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Monday, August 31st. Finally, Raymond James Financial began coverage on shares of Nicolet Bankshares in a research report on Tuesday, June 23rd. They issued a "market perform" rating for the company. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $183.00.
Check Out Our Latest Research Report on NIC
Insider Transactions at Nicolet Bankshares
In other news, EVP Eric Witczak sold 1,215 shares of the stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $167.89, for a total value of $203,986.35. Following the completion of the transaction, the executive vice president owned 33,630 shares of the company's stock, valued at approximately $5,646,140.70. This represents a 3.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Atwell sold 2,662 shares of Nicolet Bankshares stock in a transaction on Friday, July 24th. The shares were sold at an average price of $170.24, for a total transaction of $453,178.88. Following the completion of the sale, the director owned 34,483 shares in the company, valued at approximately $5,870,385.92. This represents a 7.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 4,219 shares of company stock worth $715,976. 7.20% of the stock is currently owned by insiders.
Nicolet Bankshares Stock Down 0.1%
Shares of NYSE:NIC traded down $0.14 during midday trading on Tuesday, hitting $171.31. 74,702 shares of the company's stock traded hands, compared to its average volume of 215,456. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market cap of $3.59 billion, a PE ratio of 19.44 and a beta of 0.64. Nicolet Bankshares Inc. has a twelve month low of $114.11 and a twelve month high of $180.00. The firm's fifty day moving average price is $170.88 and its two-hundred day moving average price is $156.58.
Nicolet Bankshares (NYSE:NIC - Get Free Report) last issued its earnings results on Tuesday, July 21st. The company reported $2.99 earnings per share for the quarter, beating analysts' consensus estimates of $2.85 by $0.14. Nicolet Bankshares had a return on equity of 11.36% and a net margin of 21.77%.The company had revenue of $177.75 million for the quarter, compared to the consensus estimate of $171.93 million. On average, equities research analysts anticipate that Nicolet Bankshares Inc. will post 12.3 EPS for the current fiscal year.
Nicolet Bankshares Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, September 1st. Nicolet Bankshares's payout ratio is currently 16.35%.
About Nicolet Bankshares
(
Free Report)
Nicolet Bankshares, Inc is the bank holding company for Nicolet National Bank, a full-service community bank headquartered in Green Bay, Wisconsin. The bank provides financial services to businesses, individuals and institutions through a relationship-focused banking model.
Nicolet National Bank offers commercial and personal deposit accounts, business and consumer lending, mortgage services, treasury management and cash-management solutions. Its services also include wealth management, trust and investment services, helping customers manage borrowing, day-to-day finances and long-term financial goals.
Founded in 2000, Nicolet has expanded its presence across Wisconsin and into Michigan's Upper Peninsula through organic growth and acquisitions.
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