Nicolet Bankshares, Inc. (NYSE:NIC) Shares Sold by Arizona State Retirement System

Arizona State Retirement System reduced its stake in Nicolet Bankshares, Inc. (NYSE:NIC) by 8.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,696 shares of the company’s stock after selling 344 shares during the quarter. Arizona State Retirement System’s holdings in Nicolet Bankshares were worth $251,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. EA Series Trust purchased a new position in shares of Nicolet Bankshares during the 2nd quarter worth $1,788,000. Foundations Investment Advisors LLC purchased a new position in shares of Nicolet Bankshares during the 2nd quarter worth $204,000. Ameriprise Financial Inc. grew its holdings in shares of Nicolet Bankshares by 19.5% during the 1st quarter. Ameriprise Financial Inc. now owns 21,989 shares of the company’s stock worth $1,386,000 after purchasing an additional 3,587 shares during the period. Trivant Custom Portfolio Group LLC purchased a new position in shares of Nicolet Bankshares during the 1st quarter worth $88,000. Finally, State Street Corp grew its holdings in shares of Nicolet Bankshares by 10.4% during the 1st quarter. State Street Corp now owns 322,413 shares of the company’s stock worth $20,327,000 after purchasing an additional 30,358 shares during the period. 42.48% of the stock is currently owned by hedge funds and other institutional investors.

Nicolet Bankshares Stock Performance

Shares of Nicolet Bankshares stock opened at $73.50 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 18.99 and a beta of 0.77. The business has a 50-day moving average of $71.43 and a 200 day moving average of $70.46. Nicolet Bankshares, Inc. has a 12 month low of $51.76 and a 12 month high of $85.20.

Nicolet Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend was Thursday, August 31st. Nicolet Bankshares’s dividend payout ratio is currently 25.84%.

Insider Buying and Selling at Nicolet Bankshares

In other Nicolet Bankshares news, Director Susan L. Merkatoris sold 3,000 shares of the stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $75.15, for a total value of $225,450.00. Following the sale, the director now owns 99,598 shares of the company’s stock, valued at approximately $7,484,789.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Michael E. Daniels sold 21,064 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $74.22, for a total transaction of $1,563,370.08. Following the sale, the chief executive officer now owns 82,813 shares of the company’s stock, valued at approximately $6,146,380.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan L. Merkatoris sold 3,000 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $75.15, for a total value of $225,450.00. Following the sale, the director now directly owns 99,598 shares in the company, valued at approximately $7,484,789.70. The disclosure for this sale can be found here. Insiders have sold 25,064 shares of company stock valued at $1,862,900 in the last quarter. Corporate insiders own 18.10% of the company’s stock.

Analysts Set New Price Targets

NIC has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods cut Nicolet Bankshares from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $74.00 to $81.00 in a report on Thursday, July 20th. TheStreet cut Nicolet Bankshares from a “b” rating to a “c” rating in a report on Wednesday, October 25th. Stephens cut Nicolet Bankshares from an “overweight” rating to an “equal weight” rating and set a $81.00 target price for the company. in a report on Wednesday, October 25th. Finally, Maxim Group raised their target price on Nicolet Bankshares from $70.00 to $95.00 in a report on Thursday, July 20th.

Nicolet Bankshares Company 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.