Nicolet Bankshares Inc. $NIC Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Nicolet Bankshares Inc. by 11.6%, selling 14,852 shares during the first quarter, leaving it with 113,073 shares valued at approximately $12.32 million.
• Nicolet Bankshares recently reported a quarterly EPS of $2.35, exceeding analysts' expectations of $2.14, with revenue of $95.74 million compared to the consensus estimate of $72.89 million.
• The company declared a quarterly dividend of $0.32, with an annual yield of 0.9%, payable on September 15th to shareholders of record as of September 2nd.

Charles Schwab Investment Management Inc. reduced its position in shares of Nicolet Bankshares Inc. (NYSE:NIC - Free Report) by 11.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 113,073 shares of the company's stock after selling 14,852 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.75% of Nicolet Bankshares worth $12,320,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Rafferty Asset Management LLC raised its holdings in Nicolet Bankshares by 1.4% during the fourth quarter. Rafferty Asset Management LLC now owns 8,531 shares of the company's stock worth $895,000 after purchasing an additional 120 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Nicolet Bankshares by 2.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 5,815 shares of the company's stock worth $610,000 after purchasing an additional 157 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Nicolet Bankshares by 4.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,617 shares of the company's stock worth $799,000 after purchasing an additional 321 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Nicolet Bankshares by 4.4% during the fourth quarter. Ameriprise Financial Inc. now owns 9,262 shares of the company's stock worth $972,000 after purchasing an additional 390 shares in the last quarter. Finally, MetLife Investment Management LLC raised its holdings in 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 in the last quarter. 43.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Eric James Witczak sold 1,588 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $139.42, for a total transaction of $221,398.96. Following the sale, the executive vice president owned 28,901 shares in the company, valued at approximately $4,029,377.42. This trade represents a 5.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Bruce Atwell sold 6,904 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $139.47, for a total transaction of $962,900.88. Following the sale, the director owned 34,220 shares in the company, valued at approximately $4,772,663.40. This trade represents a 16.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,182 shares of company stock worth $2,466,754. 16.40% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on NIC shares. Keefe, Bruyette & Woods increased their target price on shares of Nicolet Bankshares from $118.00 to $135.00 and gave the company a "market perform" rating in a report on Thursday, July 17th. Piper Sandler reaffirmed a "neutral" rating and issued a $140.00 target price (up from $122.50) on shares of Nicolet Bankshares in a report on Wednesday, July 16th. Maxim Group increased their target price on shares of Nicolet Bankshares from $131.00 to $161.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Finally, Wall Street Zen raised shares of Nicolet Bankshares from a "sell" rating to a "hold" rating in a report on Friday, July 18th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $145.33.

Nicolet Bankshares Price Performance

Shares of NIC stock traded down $0.76 during trading hours on Friday, hitting $137.84. The company's stock had a trading volume of 41,415 shares, compared to its average volume of 67,092. The business has a fifty day moving average of $130.80 and a 200-day moving average of $120.83. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 15.83 and a beta of 0.77. Nicolet Bankshares Inc. has a twelve month low of $90.07 and a twelve month high of $141.92. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.11.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.14 by $0.21. The business had revenue of $95.74 million for the quarter, compared to analyst estimates of $72.89 million. Nicolet Bankshares had a net margin of 25.12% and a return on equity of 11.48%. As a group, equities research analysts anticipate that Nicolet Bankshares Inc. will post 8.18 EPS for the current year.

Nicolet Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.32 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.28 dividend on an annualized basis and a yield of 0.9%. Nicolet Bankshares's dividend payout ratio (DPR) is 14.70%.

Nicolet Bankshares Company 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.