Teacher Retirement System of Texas Sells 12,862 Shares of Nicolet Bankshares Inc. (NYSE:NIC)

Teacher Retirement System of Texas lessened its stake in Nicolet Bankshares Inc. (NYSE:NIC - Free Report) by 58.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,173 shares of the company's stock after selling 12,862 shares during the quarter. Teacher Retirement System of Texas owned about 0.06% of Nicolet Bankshares worth $999,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NIC. Bank of New York Mellon Corp raised its stake in Nicolet Bankshares by 1.7% in the fourth quarter. Bank of New York Mellon Corp now owns 58,247 shares of the company's stock valued at $6,111,000 after purchasing an additional 950 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Nicolet Bankshares by 9.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 127,925 shares of the company's stock worth $13,421,000 after acquiring an additional 11,516 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Nicolet Bankshares during the fourth quarter worth about $778,000. Swiss National Bank raised its stake in Nicolet Bankshares by 1.5% during the fourth quarter. Swiss National Bank now owns 26,600 shares of the company's stock worth $2,791,000 after acquiring an additional 400 shares in the last quarter. Finally, Thrivent Financial for Lutherans acquired a new position in Nicolet Bankshares during the fourth quarter worth about $533,000. Institutional investors and hedge funds own 43.06% of the company's stock.

Insider Activity

In other news, Director Susan L. Merkatoris sold 3,700 shares of the business's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $108.58, for a total transaction of $401,746.00. Following the sale, the director directly owned 78,218 shares in the company, valued at approximately $8,492,910.44. The trade was a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert Bruce Atwell sold 3,126 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $118.30, for a total value of $369,805.80. Following the completion of the sale, the director owned 34,220 shares in the company, valued at $4,048,226. The trade was a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,226 shares of company stock worth $1,884,826. Company insiders own 16.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Piper Sandler reissued a "neutral" rating and set a $140.00 target price (up previously from $122.50) on shares of Nicolet Bankshares in a research note on Wednesday. Maxim Group boosted their target price on Nicolet Bankshares from $131.00 to $161.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods boosted their target price on Nicolet Bankshares from $118.00 to $135.00 and gave the stock a "market perform" rating in a research note on Thursday.

Nicolet Bankshares Trading Up 3.4%

Shares of NYSE:NIC traded up $4.66 during midday trading on Thursday, hitting $140.69. 143,729 shares of the stock were exchanged, compared to its average volume of 62,938. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 16.15 and a beta of 0.76. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.97 and a current ratio of 0.97. The business's 50-day moving average price is $123.55 and its 200 day moving average price is $115.80. Nicolet Bankshares Inc. has a 12 month low of $85.68 and a 12 month high of $141.79.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last released 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. The company had revenue of $95.74 million for the quarter, compared to analysts' expectations of $72.89 million. Nicolet Bankshares had a return on equity of 11.53% and a net margin of 25.12%. Analysts predict that Nicolet Bankshares Inc. will post 8.18 earnings per share for the current year.

Nicolet Bankshares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.32 per share. This is a boost from Nicolet Bankshares's previous quarterly dividend of $0.28. This represents a $1.28 annualized dividend and a dividend yield of 0.91%. The ex-dividend date was Monday, June 2nd. Nicolet Bankshares's payout ratio 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.