Legal & General Group Plc purchased a new position in shares of Nicolet Bankshares Inc. (NYSE:NIC – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 46,176 shares of the company’s stock, valued at approximately $7,613,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Nicolet Bankshares by 86.3% during the 2nd quarter. BlackRock Inc. now owns 3,027,246 shares of the company’s stock valued at $500,676,000 after purchasing an additional 1,402,419 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Nicolet Bankshares by 32.1% in the first quarter. Dimensional Fund Advisors LP now owns 819,274 shares of the company’s stock worth $121,756,000 after buying an additional 198,997 shares in the last quarter. Vanguard Group Inc. boosted its stake in Nicolet Bankshares by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 737,578 shares of the company’s stock worth $89,468,000 after buying an additional 22,474 shares in the last quarter. State Street Corp grew its position in Nicolet Bankshares by 6.2% during the fourth quarter. State Street Corp now owns 458,724 shares of the company’s stock valued at $55,643,000 after acquiring an additional 26,893 shares during the last quarter. Finally, Jennison Associates LLC bought a new position in Nicolet Bankshares during the first quarter valued at approximately $31,794,000. 43.06% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Nicolet Bankshares
In other news, EVP Eric James Witczak sold 1,215 shares of the stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $167.89, for a total transaction of $203,986.35. Following the completion of the sale, 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 SEC, which is accessible through this hyperlink. Also, Director Robert Bruce Atwell sold 2,662 shares of the firm’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $170.24, for a total value 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. The trade was a 7.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 4,219 shares of company stock worth $715,976 in the last 90 days. Corporate insiders own 7.20% of the company’s stock.
Nicolet Bankshares Stock Performance
Nicolet Bankshares (NYSE:NIC – Get Free Report) last issued 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 net margin of 21.77% and a return on equity of 11.36%. The company had revenue of $177.75 million for the quarter, compared to the consensus estimate of $171.93 million. Equities research analysts predict that Nicolet Bankshares Inc. will post 12.3 earnings per share for the current year.
Nicolet Bankshares Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 1st. Nicolet Bankshares’s dividend payout ratio (DPR) is 16.35%.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Nicolet Bankshares from $175.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Zacks Research raised shares of Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Raymond James Financial began coverage on shares of Nicolet Bankshares in a research report on Tuesday, June 23rd. They issued a “market perform” rating on the stock. Piper Sandler set a $194.00 price target on shares of Nicolet Bankshares in a research report on Wednesday, July 22nd. Finally, Weiss Ratings cut Nicolet Bankshares from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $183.00.
Read Our Latest Stock Report on NIC
Nicolet Bankshares Profile
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.
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