State of Tennessee Department of Treasury Makes New Investment in Nicolet Bankshares, Inc. (NYSE:NIC)

State of Tennessee Department of Treasury acquired a new position in Nicolet Bankshares, Inc. (NYSE:NIC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,341 shares of the company's stock, valued at approximately $246,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of NIC. Barclays PLC grew its holdings in shares of Nicolet Bankshares by 170.7% during the third quarter. Barclays PLC now owns 23,978 shares of the company's stock valued at $2,291,000 after buying an additional 15,121 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Nicolet Bankshares during the third quarter valued at approximately $264,000. JPMorgan Chase & Co. grew its holdings in shares of Nicolet Bankshares by 111.7% during the third quarter. JPMorgan Chase & Co. now owns 32,818 shares of the company's stock valued at $3,138,000 after buying an additional 17,314 shares during the last quarter. Merit Financial Group LLC grew its holdings in shares of Nicolet Bankshares by 1.7% during the fourth quarter. Merit Financial Group LLC now owns 34,543 shares of the company's stock valued at $3,624,000 after buying an additional 592 shares during the last quarter. Finally, Verus Wealth Management LLC purchased a new stake in shares of Nicolet Bankshares during the fourth quarter valued at approximately $551,000. Hedge funds and other institutional investors own 43.06% of the company's stock.

Analyst Ratings Changes

NIC has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods increased their price objective on shares of 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 lowered their price objective on shares of Nicolet Bankshares from $120.00 to $118.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Finally, Maxim Group increased their price objective on shares of Nicolet Bankshares from $124.00 to $131.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd.

Insider Activity

In related news, Director Susan L. Merkatoris sold 300 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $115.26, for a total transaction of $34,578.00. Following the completion of the transaction, the director now directly owns 81,918 shares of the company's stock, valued at approximately $9,441,868.68. This trade represents a 0.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert Bruce Atwell sold 3,975 shares of the firm's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $118.08, for a total transaction of $469,368.00. Following the transaction, the director now directly owns 30,317 shares of the company's stock, valued at $3,579,831.36. The trade was a 11.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,269 shares of company stock worth $1,987,986 in the last three months. Company insiders own 16.40% of the company's stock.

Nicolet Bankshares Stock Performance

NIC traded down $1.02 during trading on Friday, hitting $120.25. The company's stock had a trading volume of 49,170 shares, compared to its average volume of 53,392. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. Nicolet Bankshares, Inc. has a one year low of $76.01 and a one year high of $122.12. The firm has a market cap of $1.81 billion, a PE ratio of 14.98 and a beta of 0.76. The business's 50 day simple moving average is $111.78 and its 200-day simple moving average is $110.91.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last released its quarterly earnings results on Tuesday, April 15th. The company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.14. Nicolet Bankshares had a net margin of 23.83% and a return on equity of 10.95%. The business had revenue of $89.43 million for the quarter, compared to the consensus estimate of $70.08 million. As a group, sell-side analysts predict that Nicolet Bankshares, Inc. will post 8.18 EPS for the current fiscal year.

Nicolet Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a dividend of $0.28 per share. The ex-dividend date was Monday, March 10th. This represents a $1.12 annualized dividend and a dividend yield of 0.93%. Nicolet Bankshares's payout ratio is 13.51%.

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.