Nicolet Bankshares Inc. $NIC Shares Sold by Invesco Ltd.

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

Other institutional investors have also added to or reduced their stakes in the company. Rafferty Asset Management LLC boosted its position in shares of Nicolet Bankshares by 1.4% during the 4th quarter. Rafferty Asset Management LLC now owns 8,531 shares of the company's stock valued at $895,000 after acquiring an additional 120 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Nicolet Bankshares by 2.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 5,815 shares of the company's stock valued at $610,000 after acquiring an additional 157 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Nicolet Bankshares by 4.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,617 shares of the company's stock valued at $799,000 after acquiring an additional 321 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Nicolet Bankshares by 4.4% during the 4th quarter. Ameriprise Financial Inc. now owns 9,262 shares of the company's stock valued at $972,000 after acquiring an additional 390 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its position in shares of Nicolet Bankshares by 5.8% during the 4th quarter. MetLife Investment Management LLC now owns 8,101 shares of the company's stock valued at $850,000 after acquiring an additional 442 shares during the last quarter. 43.06% of the stock is owned by hedge funds and other institutional investors.

Nicolet Bankshares Stock Up 1.0%

Shares of Nicolet Bankshares stock traded up $1.32 during trading on Thursday, hitting $137.26. 40,045 shares of the stock traded hands, compared to its average volume of 59,399. The firm has a market cap of $2.04 billion, a P/E ratio of 15.76 and a beta of 0.77. 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 Inc. has a 52-week low of $90.07 and a 52-week high of $141.92. The stock's fifty day simple moving average is $131.97 and its 200 day simple moving average is $121.34.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last posted its earnings results on Tuesday, July 15th. The company reported $2.35 earnings per share (EPS) for the quarter, beating 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 company had revenue of $95.74 million for the quarter, compared to analyst estimates of $72.89 million. On average, equities analysts predict that Nicolet Bankshares Inc. will post 8.18 earnings per share for the current fiscal 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 issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.9%. Nicolet Bankshares's payout ratio is 14.70%.

Insider Transactions at Nicolet Bankshares

In related 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 transaction of $962,900.88. Following the completion of the sale, the director owned 34,220 shares of the company's stock, valued at $4,772,663.40. The trade was a 16.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Eric James Witczak sold 1,588 shares of Nicolet Bankshares stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $139.42, for a total value of $221,398.96. Following the sale, the executive vice president directly owned 28,901 shares of the company's stock, valued at $4,029,377.42. This trade represents a 5.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,182 shares of company stock valued at $2,466,754 in the last ninety days. Corporate insiders own 16.40% of the company's stock.

Analysts Set New Price Targets

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