186,808 Shares in Nicolet Bankshares Inc. $NIC Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company purchased a new stake in Nicolet Bankshares Inc. (NYSE:NIC) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 186,808 shares of the company’s stock, valued at approximately $30,896,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its holdings in 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 in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Nicolet Bankshares in the 4th quarter worth about $48,000. Clearstead Advisors LLC raised its stake in shares of 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 purchasing an additional 297 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of 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 purchasing an additional 366 shares in the last quarter. Finally, UMB Bank n.a. bought a new position in shares of Nicolet Bankshares during the fourth quarter worth about $102,000. 43.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NIC has been the subject of a number of research reports. Keefe, Bruyette & Woods lifted their price target on Nicolet Bankshares from $175.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Zacks Research upgraded Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Raymond James Financial initiated coverage on Nicolet Bankshares in a report on Tuesday, June 23rd. They set a “market perform” rating on the stock. Piper Sandler set a $194.00 target price on Nicolet Bankshares in a research report on Wednesday, July 22nd. Finally, Weiss Ratings upgraded Nicolet Bankshares from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $183.00.

Nicolet Bankshares Stock Up 0.4%

Shares of NYSE:NIC opened at $171.65 on Friday. The company’s fifty day moving average is $168.49 and its two-hundred day moving average is $155.28. 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 Inc. has a 1-year low of $114.11 and a 1-year high of $180.00. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of 19.48 and a beta of 0.65.

Nicolet Bankshares (NYSE:NIC) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $2.99 EPS for the quarter, beating 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 business had revenue of $177.75 million during the quarter, compared to analyst estimates of $171.93 million. Equities analysts anticipate that Nicolet Bankshares Inc. will post 12.3 EPS for the current year.

Nicolet Bankshares Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.44 dividend on an annualized basis and a yield of 0.8%. Nicolet Bankshares’s dividend payout ratio (DPR) is currently 16.35%.

Insider Buying and Selling

In other Nicolet Bankshares news, EVP Eric James Witczak sold 1,215 shares of Nicolet Bankshares stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $167.89, for a total value of $203,986.35. Following the completion of the transaction, the executive vice president directly owned 33,630 shares in the company, valued at $5,646,140.70. The trade was a 3.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert Bruce Atwell sold 2,662 shares of the company’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 value of $453,178.88. Following the transaction, the director directly owned 34,483 shares of the company’s stock, valued at $5,870,385.92. This trade 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 valued at $715,976. 7.20% of the stock is currently owned by insiders.

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.