The Manufacturers Life Insurance Company Sells 15,838 Shares of Nicolet Bankshares, Inc. (NYSE:NIC)

The Manufacturers Life Insurance Company lessened its stake in shares of Nicolet Bankshares, Inc. (NYSE:NIC) by 5.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 274,361 shares of the company’s stock after selling 15,838 shares during the quarter. The Manufacturers Life Insurance Company owned about 1.86% of Nicolet Bankshares worth $22,081,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NIC. FMR LLC lifted its position in Nicolet Bankshares by 54.2% during the third quarter. FMR LLC now owns 556,958 shares of the company’s stock valued at $38,865,000 after purchasing an additional 195,707 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Nicolet Bankshares by 3.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 542,091 shares of the company’s stock worth $43,629,000 after buying an additional 20,299 shares during the period. Anchor Capital Advisors LLC grew its holdings in Nicolet Bankshares by 40.6% in the 4th quarter. Anchor Capital Advisors LLC now owns 21,769 shares of the company’s stock worth $1,752,000 after acquiring an additional 6,285 shares during the last quarter. Johnson Financial Group Inc. increased its position in shares of Nicolet Bankshares by 745.0% in the fourth quarter. Johnson Financial Group Inc. now owns 5,915 shares of the company’s stock valued at $476,000 after acquiring an additional 5,215 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Nicolet Bankshares in the fourth quarter valued at about $238,000. 43.06% of the stock is currently owned by hedge funds and other institutional investors.

Nicolet Bankshares Price Performance

Shares of NYSE:NIC opened at $78.64 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.96 and a quick ratio of 0.95. Nicolet Bankshares, Inc. has a 1-year low of $63.58 and a 1-year high of $86.86. The firm’s 50 day simple moving average is $80.27 and its two-hundred day simple moving average is $79.80. The company has a market capitalization of $1.17 billion, a P/E ratio of 12.12 and a beta of 0.77.

Nicolet Bankshares (NYSE:NIC) last posted its quarterly earnings results on Tuesday, April 16th. The company reported $1.72 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.02). The business had revenue of $82.73 million during the quarter, compared to analysts’ expectations of $81.40 million. Nicolet Bankshares had a return on equity of 9.91% and a net margin of 20.60%. Research analysts expect that Nicolet Bankshares, Inc. will post 6.85 EPS for the current fiscal year.

Nicolet Bankshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, June 3rd will be issued a $0.28 dividend. This is an increase from Nicolet Bankshares’s previous quarterly dividend of $0.25. This represents a $1.12 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Monday, June 3rd. Nicolet Bankshares’s payout ratio is currently 17.26%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NIC shares. Keefe, Bruyette & Woods boosted their price target on Nicolet Bankshares from $85.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, April 18th. Hovde Group upgraded shares of Nicolet Bankshares from a “market perform” rating to an “outperform” rating in a report on Monday, March 4th. Piper Sandler decreased their price objective on shares of Nicolet Bankshares from $88.00 to $82.50 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Finally, Stephens cut their target price on shares of Nicolet Bankshares from $92.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 18th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $87.88.

Insider Buying and Selling at Nicolet Bankshares

In other Nicolet Bankshares news, Director Susan L. Merkatoris sold 522 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $79.00, for a total transaction of $41,238.00. Following the completion of the transaction, the director now owns 91,702 shares in the company, valued at $7,244,458. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 2,000 shares of Nicolet Bankshares stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $81.93, for a total transaction of $163,860.00. Following the completion of the sale, the director now directly owns 42,889 shares of the company’s stock, valued at approximately $3,513,895.77. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Susan L. Merkatoris sold 522 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $79.00, for a total transaction of $41,238.00. Following the completion of the sale, the director now directly owns 91,702 shares of the company’s stock, valued at $7,244,458. The disclosure for this sale can be found here. Insiders own 16.40% of the company’s stock.

About Nicolet Bankshares

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.