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

Teacher Retirement System of Texas lessened its position in shares of Nicolet Bankshares Inc. (NYSE:NIC - Free Report) by 58.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Smith Group Asset Management LLC bought a new position in Nicolet Bankshares during the first quarter valued at $210,000. KBC Group NV purchased a new position in shares of Nicolet Bankshares during the 1st quarter worth about $95,000. Diversified Trust Co bought a new position in Nicolet Bankshares during the 1st quarter valued at about $239,000. SG Americas Securities LLC purchased a new stake in Nicolet Bankshares in the 1st quarter worth about $405,000. Finally, Vest Financial LLC purchased a new stake in Nicolet Bankshares in the 1st quarter worth about $1,642,000. Institutional investors own 43.06% of the company's stock.

Nicolet Bankshares Trading Down 0.6%

NIC traded down $0.72 on Tuesday, reaching $129.74. 89,453 shares of the company traded hands, compared to its average volume of 62,220. The company has a market cap of $1.96 billion, a P/E ratio of 15.66 and a beta of 0.76. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.13. Nicolet Bankshares Inc. has a one year low of $85.68 and a one year high of $133.00. The firm has a fifty day simple moving average of $122.71 and a two-hundred day simple moving average of $115.33.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.14. Nicolet Bankshares had a net margin of 24.31% and a return on equity of 11.08%. The firm had revenue of $89.43 million during the quarter, compared to the consensus estimate of $70.08 million. As a group, equities research analysts expect that Nicolet Bankshares Inc. will post 8.18 earnings per share for the current year.

Nicolet Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were given a dividend of $0.32 per share. The ex-dividend date was Monday, June 2nd. This is a positive change from Nicolet Bankshares's previous quarterly dividend of $0.28. This represents a $1.28 dividend on an annualized basis and a yield of 0.99%. Nicolet Bankshares's payout ratio is 15.44%.

Insiders Place Their Bets

In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 3,126 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $118.30, for a total transaction of $369,805.80. Following the transaction, the director directly owned 34,220 shares in the company, valued at $4,048,226. This represents a 8.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan L. Merkatoris sold 3,700 shares of the firm's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $108.58, for a total transaction of $401,746.00. Following the transaction, the director directly owned 78,218 shares in the company, valued at $8,492,910.44. This trade represents a 4.52% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,226 shares of company stock valued at $1,884,826. 16.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NIC. Keefe, Bruyette & Woods boosted their target price on Nicolet Bankshares from $115.00 to $118.00 and gave the company a "market perform" rating in a research report on Thursday, April 17th. Piper Sandler decreased their price target on Nicolet Bankshares from $120.00 to $118.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th.

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.