Nicolet Bankshares Ownership

Who are the major shareholders and have insiders been buying or selling?

Recent Insider Transactions

NYSE:NIC Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Shares	Max Price
21 Apr 25	SellUS$401,739	Susan Merkatoris	Individual	3,700	US$109.23
07 Mar 25	SellUS$34,578	Susan Merkatoris	Individual	300	US$115.26
29 Jan 25	SellUS$16,508	Robert Atwell	Individual	150	US$110.05
27 Jan 25	SellUS$111,270	Susan Merkatoris	Individual	1,000	US$111.27
22 Oct 24	SellUS$252,520	Robert Atwell	Individual	2,500	US$101.07
22 Jul 24	SellUS$487,275	Susan Merkatoris	Individual	5,000	US$98.00
19 Jul 24	SellUS$488,669	Robert Atwell	Individual	5,000	US$98.20
19 Jul 24	SellUS$1,457,639	Eric Witczak	Individual	15,000	US$98.40
11 Jun 24	SellUS$76,700	Susan Merkatoris	Individual	1,000	US$76.70
07 Jun 24	SellUS$474	Susan Merkatoris	Individual	6	US$79.05
06 Jun 24	SellUS$237,074	Susan Merkatoris	Individual	3,000	US$79.03

Insider Trading Volume

Insider Buying: NIC insiders have only sold shares in the past 3 months.

Ownership Breakdown

What is the ownership structure of NIC?
Owner Type	Number of Shares	Ownership Percentage
State or Government	2,341	0.0155%
Individual Insiders	1,705,959	11.3%
General Public	6,017,551	39.9%
Institutions	7,353,342	48.8%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 49.54% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
7.72%	BlackRock, Inc.	1,164,339	US$140.3m	6.4%	no data
5.59%	Nicolet Bankshares Inc, Asset Management Arm	842,385	US$101.5m	-3.15%	19.97%
4.89%	The Vanguard Group, Inc.	737,123	US$88.9m	-0.27%	no data
4.45%	Brenda Johnson	671,489	US$80.9m	0%	no data
4.26%	Dimensional Fund Advisors LP	641,740	US$77.4m	3.52%	0.01%
3.38%	FMR LLC	509,938	US$61.5m	-13.5%	no data
2.95%	Oliver Smith	445,283	US$53.7m	0%	no data
2.77%	State Street Global Advisors, Inc.	417,597	US$50.3m	9.39%	no data
2.33%	AllianceBernstein L.P.	350,694	US$42.3m	-0.51%	0.01%
2.01%	Geode Capital Management, LLC	303,748	US$36.6m	0.12%	no data
1.54%	Manulife Asset Management	232,492	US$28.0m	-1.06%	0.02%
1.2%	Janus Henderson Group plc	180,218	US$21.7m	5.07%	0.01%
0.89%	Northern Trust Global Investments	134,755	US$16.2m	1.21%	no data
0.85%	Charles Schwab Investment Management, Inc.	127,925	US$15.4m	0%	no data
0.65%	Michael Daniels	97,534	US$11.8m	0.03%	no data
0.62%	Robert Weyers	93,239	US$11.2m	0%	no data
0.53%	Donald Long	80,280	US$9.7m	0%	no data
0.52%	Susan Merkatoris	78,218	US$9.4m	-6.01%	no data
0.39%	JPMorgan Chase & Co, Brokerage and Securities Investments	58,372	US$7.0m	173%	no data
0.37%	Oberweis Asset Management, Inc.	55,200	US$6.7m	19%	0.25%
0.36%	Goldman Sachs Group, Investment Banking and Securities Investments	54,963	US$6.6m	0%	no data
0.35%	John Dykema	53,270	US$6.4m	0%	no data
0.32%	Morgan Stanley, Investment Banking and Brokerage Investments	48,395	US$5.8m	-1.57%	no data
0.31%	North Star Asset Management, Inc	46,088	US$5.6m	1.2%	0.27%
0.3%	UBS Asset Management AG	45,365	US$5.5m	44.9%	no data

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/05/06 09:42
End of Day Share Price	2025/05/06 00:00
Earnings	2025/03/31
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Nicolet Bankshares, Inc. is covered by 7 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Kevin Reevey	D.A. Davidson & Co.
Brendan Nosal	Hovde Group, LLC
Damon DelMonte	Keefe, Bruyette, & Woods