Legal & General Group Plc Acquires Shares of 46,176 Nicolet Bankshares Inc. $NIC

Legal & General Group Plc bought a new position in Nicolet Bankshares Inc. (NYSE:NIC) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 46,176 shares of the company’s stock, valued at approximately $7,613,000. Legal & General Group Plc owned about 0.22% of Nicolet Bankshares at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake in shares of Nicolet Bankshares by 3,940.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock worth $25,000 after acquiring an additional 197 shares during the period. Meeder Asset Management Inc. purchased a new stake in Nicolet Bankshares in the 4th quarter worth about $48,000. Clearstead Advisors LLC raised its stake in Nicolet Bankshares by 192.9% in the 4th quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock valued at $55,000 after acquiring an additional 297 shares during the period. Parallel Advisors LLC raised its stake in Nicolet Bankshares by 151.9% in the 1st quarter. Parallel Advisors LLC now owns 607 shares of the company’s stock valued at $90,000 after acquiring an additional 366 shares during the period. Finally, UMB Bank n.a. purchased a new stake in Nicolet Bankshares during the fourth quarter valued at about $102,000. 43.06% of the stock is currently owned by institutional investors.

Insider Activity at Nicolet Bankshares

In related news, EVP Eric James Witczak sold 1,215 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $167.89, for a total value of $203,986.35. Following the transaction, the executive vice president directly owned 33,630 shares in the company, valued at approximately $5,646,140.70. This represents a 3.49% 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, Director Robert Bruce Atwell sold 2,662 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $170.24, for a total transaction of $453,178.88. Following the completion of the sale, the director directly owned 34,483 shares in the company, valued at $5,870,385.92. This represents a 7.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 4,219 shares of company stock worth $715,976. 7.20% of the stock is owned by company insiders.

Nicolet Bankshares Trading Up 2.0%

Shares of NIC stock opened at $169.47 on Thursday. The company has a market capitalization of $3.55 billion, a PE ratio of 19.24 and a beta of 0.64. Nicolet Bankshares Inc. has a 52-week low of $114.11 and a 52-week high of $180.00. The business’s fifty day moving average is $169.89 and its 200 day moving average is $155.77. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.90 and a current ratio of 0.90.

Nicolet Bankshares (NYSE:NIC) last posted its earnings results on Tuesday, July 21st. The company reported $2.99 EPS for the quarter, topping the consensus estimate of $2.85 by $0.14. Nicolet Bankshares had a return on equity of 11.36% and a net margin of 21.77%.The business had revenue of $177.75 million during the quarter, compared to analysts’ expectations of $171.93 million. On average, equities research analysts anticipate that Nicolet Bankshares Inc. will post 12.3 EPS for the current fiscal year.

Nicolet Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.44 annualized dividend and a dividend yield of 0.8%. Nicolet Bankshares’s payout ratio is presently 16.35%.

Analysts Set New Price Targets

NIC has been the subject of a number of research reports. Raymond James Financial initiated coverage on shares of Nicolet Bankshares in a research report on Tuesday, June 23rd. They set a “market perform” rating for the company. Zacks Research upgraded shares of Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Piper Sandler set a $194.00 price objective on shares of Nicolet Bankshares in a report on Wednesday, July 22nd. Keefe, Bruyette & Woods lifted their price objective on shares of Nicolet Bankshares from $175.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Finally, Weiss Ratings cut shares of Nicolet Bankshares from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Nicolet Bankshares presently has an average rating of “Moderate Buy” and a consensus target price of $183.00.

About Nicolet Bankshares

Nicolet Bankshares, Inc is a bank holding company headquartered in Green Bay, Wisconsin. Through its subsidiary, Nicolet National Bank, it provides a range of commercial and consumer banking services to businesses, individuals and nonprofit organizations across northeastern Wisconsin and the Upper Peninsula of Michigan. The company’s branch network, digital banking platform and commercial lending centers support its focus on community banking and regional growth.

The company offers deposit products such as checking, savings and money market accounts, alongside consumer and commercial lending solutions.