Invesco Ltd. Sells 2,378 Shares of Nicolet Bankshares Inc. $NIC

Key Points

• Invesco Ltd. has reduced its holdings in Nicolet Bankshares by 8.3%, owning 26,133 shares valued at approximately $2.85 million after selling 2,378 shares in the first quarter.
• Several other institutional investors, including Connor Clark & Lunn Investment Management and Vanguard Group Inc., have increased their stakes in Nicolet Bankshares during the same period.
• Nicolet Bankshares recently announced a quarterly dividend of $0.32 per share, reflecting a dividend yield of 0.9% and a low payout ratio of 14.70%.

Invesco Ltd. cut its stake in Nicolet Bankshares Inc. (NYSE:NIC - Free Report) by 8.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,133 shares of the company's stock after selling 2,378 shares during the period. Invesco Ltd. owned 0.17% of Nicolet Bankshares worth $2,847,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in NIC. Vanguard Group Inc. boosted its stake in shares of Nicolet Bankshares by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 745,270 shares of the company's stock valued at $81,205,000 after purchasing an additional 8,147 shares in the last quarter. Janus Henderson Group PLC grew its stake in Nicolet Bankshares by 5.1% in the fourth quarter. Janus Henderson Group PLC now owns 180,218 shares of the company's stock worth $18,907,000 after purchasing an additional 8,698 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Nicolet Bankshares by 1.2% during the 4th quarter. Northern Trust Corp now owns 134,755 shares of the company's stock valued at $14,137,000 after purchasing an additional 1,607 shares during the last quarter. North Star Asset Management Inc. raised its stake in shares of Nicolet Bankshares by 1.2% during the 4th quarter. North Star Asset Management Inc. now owns 46,088 shares of the company's stock valued at $4,835,000 after buying an additional 548 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in Nicolet Bankshares by 1.6% in the 4th quarter. Nuveen Asset Management LLC now owns 34,854 shares of the company's stock valued at $3,657,000 after buying an additional 544 shares in the last quarter. 43.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Nicolet Bankshares

In other news, Director Robert Bruce Atwell sold 6,904 shares of the 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 transaction, the director owned 34,220 shares in the company, valued at approximately $4,772,663.40. This represents a 16.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Eric James Witczak sold 1,588 shares of Nicolet Bankshares stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $139.42, for a total value of $221,398.96. Following the completion of 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 disclosure for this sale can be found here. Insiders sold a total of 18,182 shares of company stock worth $2,466,754 in the last ninety days. 14.20% of the stock is owned by corporate insiders.

Nicolet Bankshares Trading Down 0.4%

Shares of NIC traded down $0.54 during trading hours on Wednesday, reaching $135.94. 17,175 shares of the company traded hands, compared to its average volume of 72,959. The company's fifty day moving average price is $131.43 and its two-hundred day moving average price is $121.10. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. Nicolet Bankshares Inc. has a 12 month low of $90.07 and a 12 month high of $141.92. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 15.61 and a beta of 0.77.

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

Nicolet Bankshares Dividend Announcement

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 issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 2nd. Nicolet Bankshares's dividend payout ratio is currently 14.70%.

About Nicolet Bankshares

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.