The Manufacturers Life Insurance Company Reduces Holdings in Nicolet Bankshares Inc. $NIC

The Manufacturers Life Insurance Company lowered its position in shares of Nicolet Bankshares Inc. (NYSE:NIC) by 8.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 186,808 shares of the company’s stock after selling 17,428 shares during the period. The Manufacturers Life Insurance Company’s holdings in Nicolet Bankshares were worth $30,896,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in NIC. EverSource Wealth Advisors LLC grew its stake 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 buying an additional 197 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Nicolet Bankshares in the fourth quarter valued at approximately $48,000. Clearstead Advisors LLC boosted its holdings in shares of Nicolet Bankshares by 192.9% in the fourth quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock valued at $55,000 after acquiring an additional 297 shares during the period. Parallel Advisors LLC boosted its holdings in shares of 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 acquiring an additional 366 shares during the period. Finally, UMB Bank n.a. purchased a new position in shares of Nicolet Bankshares during the fourth quarter worth approximately $102,000. 43.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on NIC. Keefe, Bruyette & Woods lifted their target price 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 upgraded shares of Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Piper Sandler set a $194.00 price objective on shares of Nicolet Bankshares in a research report on Wednesday, July 22nd. Raymond James Financial started coverage on shares of Nicolet Bankshares in a research note on Tuesday, June 23rd. They issued a “market perform” rating on the stock. Finally, Weiss Ratings downgraded shares of Nicolet Bankshares from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, August 31st. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Nicolet Bankshares has an average rating of “Moderate Buy” and an average target price of $183.00.

Insider Activity

In other news, Director Robert Atwell sold 2,662 shares of Nicolet Bankshares stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $170.24, for a total value of $453,178.88. Following the sale, the director owned 34,483 shares of the company’s stock, valued at $5,870,385.92. The trade was a 7.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Eric Witczak sold 342 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $171.96, for a total transaction of $58,810.32. Following the transaction, the executive vice president owned 33,288 shares in the company, valued at approximately $5,724,204.48. This trade represents a 1.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 4,219 shares of company stock worth $715,976. Insiders own 7.20% of the company’s stock.

Nicolet Bankshares Price Performance

Nicolet Bankshares stock opened at $170.54 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.90 and a quick ratio of 0.90. The business has a 50 day simple moving average of $170.78 and a 200-day simple moving average of $156.48. Nicolet Bankshares Inc. has a 12 month low of $114.11 and a 12 month high of $180.00. The stock has a market capitalization of $3.57 billion, a PE ratio of 19.36 and a beta of 0.64.

Nicolet Bankshares (NYSE:NIC) last posted its quarterly earnings data 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. The firm had revenue of $177.75 million for the quarter, compared to analyst estimates of $171.93 million. Nicolet Bankshares had a net margin of 21.77% and a return on equity of 11.36%. Equities analysts predict that Nicolet Bankshares Inc. will post 12.3 earnings per share for the current year.

Nicolet Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 1st. Nicolet Bankshares’s dividend payout ratio (DPR) is 16.35%.

Nicolet Bankshares Profile

Nicolet Bankshares, Inc is the bank holding company for Nicolet National Bank, a full-service community bank headquartered in Green Bay, Wisconsin. The bank provides financial services to businesses, individuals and institutions through a relationship-focused banking model.

Nicolet National Bank offers commercial and personal deposit accounts, business and consumer lending, mortgage services, treasury management and cash-management solutions. Its services also include wealth management, trust and investment services, helping customers manage borrowing, day-to-day finances and long-term financial goals.

Founded in 2000, Nicolet has expanded its presence across Wisconsin and into Michigan’s Upper Peninsula through organic growth and acquisitions.