Public Employees Retirement System of Ohio Has $2.77 Million Position in Nicolet Bankshares Inc. $NIC

Public Employees Retirement System of Ohio lifted its holdings in shares of Nicolet Bankshares Inc. (NYSE:NIC) by 17,457.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 18,611 shares of the company’s stock after buying an additional 18,505 shares during the period. Public Employees Retirement System of Ohio’s holdings in Nicolet Bankshares were worth $2,766,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its position in shares of Nicolet Bankshares by 3,940.0% in the second quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock valued at $25,000 after acquiring an additional 197 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Nicolet Bankshares during the fourth quarter valued at approximately $48,000. Clearstead Advisors LLC boosted its position in Nicolet Bankshares by 192.9% during the fourth quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock valued at $55,000 after purchasing an additional 297 shares during the last quarter. Parallel Advisors LLC grew its stake in Nicolet Bankshares by 151.9% in the first 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 Nicolet Bankshares in the fourth quarter valued at approximately $102,000. Institutional investors own 43.06% of the company’s stock.

Analyst Upgrades and Downgrades

NIC has been the topic of a number of research analyst reports. Piper Sandler set a $194.00 price target on Nicolet Bankshares in a research note on Wednesday, July 22nd. Hovde Group reduced their price objective on shares of Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Keefe, Bruyette & Woods upped their price objective on shares of Nicolet Bankshares from $175.00 to $185.00 and gave the company 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 research report on Monday, June 22nd. Finally, Weiss Ratings cut shares of Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Nicolet Bankshares presently has a consensus rating of “Moderate Buy” and an average price target of $183.00.

Insiders Place Their Bets

In other news, EVP Eric James Witczak sold 1,215 shares of the company’s stock in a transaction on Monday, July 27th. The stock was 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert Bruce Atwell sold 2,662 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $170.24, for a total value of $453,178.88. Following the sale, the director directly owned 34,483 shares in the company, valued at approximately $5,870,385.92. This trade represents a 7.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 4,219 shares of company stock worth $715,976. Corporate insiders own 7.20% of the company’s stock.

Nicolet Bankshares Stock Performance

Shares of NYSE:NIC opened at $170.89 on Friday. The company’s 50 day moving average price is $156.34 and its two-hundred day moving average price is $150.69. Nicolet Bankshares Inc. has a 12-month low of $114.11 and a 12-month high of $174.00. The firm has a market cap of $3.63 billion, a PE ratio of 19.40 and a beta of 0.65. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.04.

Nicolet Bankshares (NYSE:NIC) last released its quarterly earnings results on Tuesday, July 21st. The company reported $2.99 earnings per share for the quarter, beating analysts’ consensus estimates 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 during 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, September 1st. Nicolet Bankshares’s dividend payout ratio (DPR) is 16.35%.

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.