Public Employees Retirement System of Ohio Invests $3.09 Million in Nicolet Bankshares Inc. $NIC

Public Employees Retirement System of Ohio acquired a new stake in Nicolet Bankshares Inc. (NYSE:NIC) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 18,704 shares of the company’s stock, valued at approximately $3,093,000. Public Employees Retirement System of Ohio owned approximately 0.09% of Nicolet Bankshares at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Principal Financial Group Inc. increased its position in shares of Nicolet Bankshares by 344.3% during the 2nd quarter. Principal Financial Group Inc. now owns 124,379 shares of the company’s stock valued at $20,571,000 after purchasing an additional 96,387 shares during the period. BlackRock Inc. raised its stake in shares of Nicolet Bankshares by 86.3% in the 2nd quarter. BlackRock Inc. now owns 3,027,246 shares of the company’s stock worth $500,676,000 after buying an additional 1,402,419 shares in the last quarter. Mendon Capital Advisors Corp lifted its holdings in shares of Nicolet Bankshares by 274.9% in the first quarter. Mendon Capital Advisors Corp now owns 74,988 shares of the company’s stock valued at $11,145,000 after buying an additional 54,988 shares during the period. Heartland Advisors Inc. acquired a new stake in shares of Nicolet Bankshares in the second quarter valued at $9,222,000. Finally, Swiss National Bank boosted its stake in Nicolet Bankshares by 53.2% during the first quarter. Swiss National Bank now owns 40,300 shares of the company’s stock valued at $5,989,000 after buying an additional 14,000 shares in the last quarter. Institutional investors and hedge funds own 43.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Piper Sandler set a $194.00 target price on Nicolet Bankshares in a report on Wednesday, July 22nd. Zacks Research raised shares of Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Keefe, Bruyette & Woods increased their target price on shares of Nicolet Bankshares from $175.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Raymond James Financial assumed coverage on shares of Nicolet Bankshares in a report on Tuesday, June 23rd. They set a “market perform” rating for the company. Finally, Weiss Ratings cut Nicolet Bankshares from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday. Five investment 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $183.00.

Insider Transactions at Nicolet Bankshares

In related news, Director Robert Atwell sold 2,662 shares of the firm’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 transaction of $453,178.88. Following the completion of 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. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Eric Witczak sold 342 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $171.96, for a total transaction of $58,810.32. Following the sale, the executive vice president owned 33,288 shares of the company’s stock, valued at approximately $5,724,204.48. This represents a 1.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 4,219 shares of company stock valued at $715,976 over the last 90 days. Corporate insiders own 7.20% of the company’s stock.

Nicolet Bankshares Price Performance

Shares of NYSE:NIC opened at $172.32 on Friday. The company’s fifty day moving average is $170.27 and its two-hundred day moving average is $155.99. 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 Inc. has a 12-month low of $114.11 and a 12-month high of $180.00. The company has a market cap of $3.61 billion, a P/E ratio of 19.56 and a beta of 0.64.

Nicolet Bankshares (NYSE:NIC) last issued its earnings results on Tuesday, July 21st. The company reported $2.99 EPS for the quarter, topping the consensus estimate of $2.85 by $0.14. Nicolet Bankshares had a return on equity of 11.36% and a net margin of 21.77%.The business had revenue of $177.75 million during the quarter, compared to analysts’ expectations of $171.93 million. Equities analysts expect that Nicolet Bankshares Inc. will post 12.3 earnings per share for the current fiscal year.

Nicolet Bankshares Announces Dividend

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

Nicolet Bankshares Company Profile

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.