Nicolet Bankshares Inc. $NIC Shares Bought by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company has increased its holdings in Nicolet Bankshares Inc. by 0.9%, now owning 234,523 shares valued at approximately $25.55 million.
• Nicolet Bankshares recently reported earnings of $2.35 EPS, exceeding analysts' expectations and showing strong revenue of $95.74 million for the quarter.
• The company announced a quarterly dividend of $0.32, which translates to an annual yield of 0.9%, payable on September 15th.

The Manufacturers Life Insurance Company raised its position in Nicolet Bankshares Inc. (NYSE:NIC - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 234,523 shares of the company's stock after acquiring an additional 2,031 shares during the period. The Manufacturers Life Insurance Company owned approximately 1.56% of Nicolet Bankshares worth $25,554,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Point72 Asset Management L.P. purchased a new stake in Nicolet Bankshares in the fourth quarter valued at about $61,000. KBC Group NV purchased a new stake in shares of Nicolet Bankshares in the 1st quarter valued at $95,000. Smith Group Asset Management LLC acquired a new stake in Nicolet Bankshares during the 1st quarter worth about $210,000. Diversified Trust Co purchased a new position in Nicolet Bankshares during the first quarter valued at approximately $239,000. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Nicolet Bankshares during the 4th quarter valued at approximately $240,000. 43.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, EVP Eric James Witczak sold 5,000 shares of the firm's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $139.77, for a total transaction of $698,850.00. Following the completion of the transaction, the executive vice president directly owned 28,901 shares in the company, valued at $4,039,492.77. This trade represents a 14.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert Bruce Atwell sold 6,904 shares of the business's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $139.47, for a total value of $962,900.88. Following the completion of the sale, the director owned 34,220 shares in the company, valued at $4,772,663.40. This represents a 16.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,182 shares of company stock worth $2,466,754 over the last 90 days. 16.40% of the stock is owned by insiders.

Nicolet Bankshares Trading Up 1.0%

NYSE:NIC traded up $1.32 during trading hours on Thursday, hitting $137.26. The company had a trading volume of 40,045 shares, compared to its average volume of 59,399. The company has a market cap of $2.04 billion, a P/E ratio of 15.70 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 1 year low of $90.07 and a 1 year high of $141.92. The company has a 50-day moving average of $131.71 and a 200 day moving average of $121.21.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last issued its quarterly earnings data 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 net margin of 25.12% and a return on equity of 11.48%. The firm had revenue of $95.74 million for the quarter, compared to analyst estimates of $72.89 million. Sell-side analysts expect that Nicolet Bankshares Inc. will post 8.18 earnings per share for the current year.

Nicolet Bankshares Dividend Announcement

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

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.