Nicolet Bankshares Inc. $NIC Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its position in Nicolet Bankshares Inc. (NYSE:NIC) by 45.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,994 shares of the company’s stock after selling 4,179 shares during the quarter. Teacher Retirement System of Texas’ holdings in Nicolet Bankshares were worth $617,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of NIC. KLP Kapitalforvaltning AS raised its position in Nicolet Bankshares by 3.4% in the second quarter. KLP Kapitalforvaltning AS now owns 3,000 shares of the company’s stock worth $370,000 after acquiring an additional 100 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Nicolet Bankshares by 8.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 6,259 shares of the company’s stock worth $773,000 after purchasing an additional 493 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Nicolet Bankshares by 6.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,134 shares of the company’s stock worth $886,000 after purchasing an additional 517 shares in the last quarter. AQR Capital Management LLC lifted its stake in Nicolet Bankshares by 15.2% during the first quarter. AQR Capital Management LLC now owns 11,819 shares of the company’s stock valued at $1,288,000 after purchasing an additional 1,557 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Nicolet Bankshares by 24.8% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,256 shares of the company’s stock worth $1,009,000 after buying an additional 1,838 shares in the last quarter. Institutional investors own 43.06% of the company’s stock.

Wall Street Analysts Forecast Growth

NIC has been the topic of several research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Nicolet Bankshares in a report on Wednesday, October 8th. 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 report on Thursday, July 17th. Piper Sandler reiterated a “neutral” rating and issued a $140.00 price target (up previously from $122.50) on shares of Nicolet Bankshares in a research 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. Finally, Keefe, Bruyette & Woods upgraded shares of Nicolet Bankshares from a “market perform” rating to an “outperform” rating and set a $160.00 target price for the company in a report on Monday, October 27th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $153.67.

Nicolet Bankshares Stock Down 0.9%

Shares of Nicolet Bankshares stock opened at $123.25 on Friday. Nicolet Bankshares Inc. has a 1 year low of $97.90 and a 1 year high of $141.92. The company has a market cap of $1.82 billion, a P/E ratio of 13.20 and a beta of 0.76. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.11. The stock has a 50-day moving average price of $130.08 and a 200 day moving average price of $127.30.

Nicolet Bankshares (NYSE:NIC) last released its earnings results on Thursday, October 23rd. The company reported $2.66 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.32. The company had revenue of $102.88 million for the quarter, compared to analysts’ expectations of $76.83 million. Nicolet Bankshares had a return on equity of 12.08% and a net margin of 26.39%. As a group, analysts expect that Nicolet Bankshares Inc. will post 8.18 EPS for the current fiscal year.

Nicolet Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.0%. Nicolet Bankshares’s dividend payout ratio (DPR) is 13.70%.

Insider Activity

In related news, EVP Eric James Witczak sold 1,588 shares of Nicolet Bankshares stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $139.42, for a total transaction of $221,398.96. Following the completion of the sale, the executive vice president owned 28,901 shares of the company’s stock, valued at approximately $4,029,377.42. This trade represents a 5.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Hubert Phillip Moore, Jr. bought 240 shares of the stock in a transaction on Thursday, October 30th. The stock was purchased at an average price of $115.84 per share, for a total transaction of $27,801.60. Following the purchase, the chief financial officer directly owned 32,947 shares of the company’s stock, valued at approximately $3,816,580.48. This represents a 0.73% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 3,345 shares of company stock worth $387,751 in the last ninety days. Corporate insiders own 16.40% of the company’s stock.

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.