Associated Banc Corp Sells 194 Shares of Nicolet Bankshares, Inc. (NYSE:NIC)

Associated Banc Corp lessened its holdings in shares of Nicolet Bankshares, Inc. (NYSE:NIC) by 2.3% during the third quarter, Holdings Channel.com reports. The firm owned 8,347 shares of the company’s stock after selling 194 shares during the quarter. Associated Banc Corp’s holdings in Nicolet Bankshares were worth $798,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of Nicolet Bankshares by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 587,488 shares of the company’s stock worth $48,783,000 after acquiring an additional 16,952 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Nicolet Bankshares by 2,480.2% during the 1st quarter. Janus Henderson Group PLC now owns 163,919 shares of the company’s stock worth $14,094,000 after purchasing an additional 157,566 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Nicolet Bankshares in the 3rd quarter worth approximately $528,000. Creative Planning boosted its stake in shares of Nicolet Bankshares by 6.6% in the 3rd quarter. Creative Planning now owns 12,484 shares of the company’s stock valued at $1,194,000 after purchasing an additional 777 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Nicolet Bankshares by 6.5% during the second quarter. Bank of New York Mellon Corp now owns 65,982 shares of the company’s stock worth $5,479,000 after buying an additional 4,007 shares during the period. Institutional investors own 43.06% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Michael E. Daniels sold 8,003 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $98.98, for a total value of $792,136.94. Following the sale, the chief executive officer now owns 72,402 shares in the company, valued at $7,166,349.96. This represents a 9.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert Bruce Atwell sold 2,908 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $103.22, for a total value of $300,163.76. Following the completion of the transaction, the director now owns 35,815 shares in the company, valued at $3,696,824.30. This represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,156 shares of company stock worth $7,324,308. Corporate insiders own 16.40% of the company’s stock.

Nicolet Bankshares Stock Performance

NYSE:NIC opened at $112.23 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. Nicolet Bankshares, Inc. has a twelve month low of $72.70 and a twelve month high of $116.17. The company has a fifty day moving average of $101.77 and a 200-day moving average of $92.73. The firm has a market capitalization of $1.71 billion, a P/E ratio of 14.28 and a beta of 0.75.

Nicolet Bankshares (NYSE:NIC) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.13. Nicolet Bankshares had a net margin of 23.35% and a return on equity of 10.56%. The business had revenue of $91.24 million during the quarter, compared to analysts’ expectations of $86.50 million. As a group, sell-side analysts anticipate that Nicolet Bankshares, Inc. will post 7.74 EPS for the current year.

Nicolet Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Monday, December 2nd. Nicolet Bankshares’s dividend payout ratio (DPR) is currently 14.25%.

Analyst Upgrades and Downgrades

Separately, Maxim Group boosted their target price on shares of Nicolet Bankshares from $120.00 to $124.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Nicolet Bankshares presently has an average rating of “Hold” and a consensus price target of $106.00.

About Nicolet Bankshares

Nicolet Bankshares, Inc operates as the bank holding company for Nicolet National Bank that provides banking products and services for businesses and individuals in Wisconsin and Michigan. The company accepts checking, savings, and money market accounts; various certificates of deposit; and individual retirement accounts.