The Manufacturers Life Insurance Company Invests $30.90 Million in Nicolet Bankshares Inc. $NIC

The Manufacturers Life Insurance Company acquired a new stake in Nicolet Bankshares Inc. (NYSE:NIC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 186,808 shares of the company’s stock, valued at approximately $30,896,000. The Manufacturers Life Insurance Company owned approximately 0.89% of Nicolet Bankshares at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. PDT Partners LLC raised its holdings in Nicolet Bankshares by 1.8% in the second quarter. PDT Partners LLC now owns 5,572 shares of the company’s stock valued at $688,000 after buying an additional 100 shares during the period. ProShare Advisors LLC grew its stake in Nicolet Bankshares by 4.9% during the fourth quarter. ProShare Advisors LLC now owns 2,424 shares of the company’s stock worth $294,000 after buying an additional 113 shares during the period. LPL Financial LLC increased its position in shares of Nicolet Bankshares by 4.6% in the fourth quarter. LPL Financial LLC now owns 2,836 shares of the company’s stock worth $344,000 after acquiring an additional 126 shares in the last quarter. Bank of Montreal Can increased its position in shares of Nicolet Bankshares by 0.6% in the fourth quarter. Bank of Montreal Can now owns 23,181 shares of the company’s stock worth $2,829,000 after acquiring an additional 147 shares in the last quarter. Finally, Smith Group Asset Management LLC raised its stake in shares of Nicolet Bankshares by 9.3% in the 1st quarter. Smith Group Asset Management LLC now owns 2,230 shares of the company’s stock valued at $331,000 after acquiring an additional 189 shares during the period. Hedge funds and other institutional investors own 43.06% of the company’s stock.

Nicolet Bankshares Trading Up 0.4%

NYSE NIC opened at $171.65 on Friday. The company’s fifty day simple moving average is $168.49 and its 200-day simple moving average is $155.28. Nicolet Bankshares Inc. has a 52 week low of $114.11 and a 52 week high of $180.00. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.04. The stock has a market cap of $3.60 billion, a P/E ratio of 19.48 and a beta of 0.65.

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 business had revenue of $177.75 million during the quarter, compared to analyst estimates of $171.93 million. Equities research analysts predict that Nicolet Bankshares Inc. will post 12.3 EPS for the current fiscal year.

Nicolet Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 1st. Nicolet Bankshares’s dividend payout ratio is presently 16.35%.

Insider Activity

In related news, EVP Eric James 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 value 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. The trade was a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert Bruce Atwell sold 2,662 shares of the 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 completion of the transaction, the director directly owned 34,483 shares of the company’s stock, valued at $5,870,385.92. This represents a 7.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,219 shares of company stock valued at $715,976 over the last 90 days. Insiders own 7.20% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.