Nicolet Bankshares Inc. $NIC Shares Sold by Invesco Ltd.

Invesco Ltd. lowered its position in shares of Nicolet Bankshares Inc. (NYSE:NIC) by 8.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,133 shares of the company’s stock after selling 2,378 shares during the period. Invesco Ltd. owned 0.17% of Nicolet Bankshares worth $2,847,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Nicolet Bankshares by 24.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,256 shares of the company’s stock worth $1,009,000 after acquiring an additional 1,838 shares in the last quarter. Vanguard Group Inc. lifted its stake in Nicolet Bankshares by 1.1% during the first quarter. Vanguard Group Inc. now owns 745,270 shares of the company’s stock worth $81,205,000 after purchasing an additional 8,147 shares during the last quarter. Victory Capital Management Inc. acquired a new position in Nicolet Bankshares in the first quarter valued at approximately $288,000. Smith Group Asset Management LLC purchased a new position in Nicolet Bankshares in the first quarter valued at approximately $210,000. Finally, KBC Group NV purchased a new position in Nicolet Bankshares in the first quarter valued at approximately $95,000. 43.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Nicolet Bankshares

In other Nicolet Bankshares news, EVP Eric James Witczak sold 5,000 shares of the company’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $139.77, for a total transaction of $698,850.00. Following the completion of the transaction, the executive vice president owned 28,901 shares in the company, valued at approximately $4,039,492.77. This represents a 14.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Bruce Atwell sold 6,904 shares of the firm’s stock in a transaction on Monday, July 21st. The stock was sold at an average price of $139.47, for a total transaction of $962,900.88. Following the completion of the sale, the director owned 34,220 shares of the company’s stock, valued at $4,772,663.40. This trade represents a 16.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,182 shares of company stock worth $2,466,754 over the last three months. 16.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on NIC shares. Maxim Group boosted their price objective on shares of Nicolet Bankshares from $131.00 to $161.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. Wall Street Zen upgraded shares of Nicolet Bankshares from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Keefe, Bruyette & Woods boosted their price target on shares of Nicolet Bankshares from $118.00 to $135.00 and gave the company a “market perform” rating in a research report on Thursday, July 17th. Finally, Piper Sandler restated a “neutral” rating and issued a $140.00 price objective (up previously from $122.50) on shares of Nicolet Bankshares in a research note on Wednesday, July 16th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Nicolet Bankshares currently has a consensus rating of “Hold” and an average price target of $145.33.

Nicolet Bankshares Stock Performance

Shares of NIC stock opened at $137.84 on Friday. Nicolet Bankshares Inc. has a 52-week low of $90.07 and a 52-week high of $141.92. The stock’s 50-day moving average price is $130.80 and its 200 day moving average price is $120.83. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $2.05 billion, a PE ratio of 15.83 and a beta of 0.77.

Nicolet Bankshares (NYSE:NIC) last announced its earnings results on Tuesday, July 15th. The company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.21. The company had revenue of $95.74 million for the quarter, compared to the consensus estimate of $72.89 million. Nicolet Bankshares had a return on equity of 11.48% and a net margin of 25.12%. As a group, equities research analysts forecast that Nicolet Bankshares Inc. will post 8.18 EPS for the current year.

Nicolet Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, September 2nd. Nicolet Bankshares’s dividend payout ratio (DPR) is 14.70%.

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.