Nicolet Bankshares, Inc. (NYSE:NIC) Short Interest Update

Nicolet Bankshares, Inc. (NYSE:NIC) saw a large decrease in short interest during the month of July. As of July 31st, there was short interest totalling 215,500 shares, a decrease of 20.7% from the July 15th total of 271,600 shares. Based on an average trading volume of 46,300 shares, the short-interest ratio is currently 4.7 days. Currently, 1.6% of the shares of the stock are sold short.

Insider Buying and Selling at Nicolet Bankshares

In related news, EVP Eric James Witczak sold 15,000 shares of the stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $97.18, for a total value of $1,457,700.00. Following the completion of the transaction, the executive vice president now directly owns 26,498 shares in the company, valued at $2,575,075.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Eric James Witczak sold 15,000 shares of the company’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $97.18, for a total value of $1,457,700.00. Following the completion of the transaction, the executive vice president now owns 26,498 shares in the company, valued at approximately $2,575,075.64. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Brad Vincent Hutjens sold 10,000 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $99.00, for a total transaction of $990,000.00. Following the sale, the executive vice president now owns 26,642 shares of the company’s stock, valued at approximately $2,637,558. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,528 shares of company stock worth $3,053,362. Insiders own 16.40% of the company’s stock.

Institutional Investors Weigh In On Nicolet Bankshares

Several institutional investors and hedge funds have recently made changes to their positions in NIC. Janus Henderson Group PLC grew its stake in shares of 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 acquiring an additional 157,566 shares in the last quarter. Mendon Capital Advisors Corp bought a new stake in shares of Nicolet Bankshares during the 4th quarter worth $2,012,000. Dimensional Fund Advisors LP raised its position in Nicolet Bankshares by 3.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 542,091 shares of the company’s stock valued at $43,629,000 after purchasing an additional 20,299 shares during the last quarter. Sugar Maple Asset Management LLC acquired a new stake in Nicolet Bankshares in the first quarter valued at $1,041,000. Finally, Vanguard Group Inc. raised its stake in Nicolet Bankshares by 1.2% during the first quarter. Vanguard Group Inc. now owns 705,938 shares of the company’s stock worth $60,704,000 after buying an additional 8,213 shares during the last quarter. Institutional investors and hedge funds own 43.06% of the company’s stock.

Nicolet Bankshares Stock Up 2.3 %

Shares of NYSE NIC traded up $2.04 during mid-day trading on Friday, reaching $90.86. The company had a trading volume of 13,332 shares, compared to its average volume of 41,580. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.96. The stock has a market capitalization of $1.36 billion, a PE ratio of 13.69 and a beta of 0.77. Nicolet Bankshares has a twelve month low of $63.58 and a twelve month high of $104.58. The stock’s 50 day moving average is $87.17 and its 200-day moving average is $82.66.

Nicolet Bankshares (NYSE:NIC) last posted its earnings results on Tuesday, July 16th. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.18. Nicolet Bankshares had a net margin of 21.13% and a return on equity of 10.37%. The business had revenue of $85.43 million for the quarter, compared to analyst estimates of $81.40 million. As a group, equities analysts anticipate that Nicolet Bankshares will post 7.03 earnings per share for the current fiscal year.

Nicolet Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Monday, June 3rd were paid a dividend of $0.28 per share. This is a boost from Nicolet Bankshares’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, June 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 1.23%. Nicolet Bankshares’s dividend payout ratio (DPR) is currently 17.26%.

Analysts Set New Price Targets

NIC has been the subject of several research analyst reports. Stephens upped their price target on Nicolet Bankshares from $90.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Piper Sandler upped their price target on shares of Nicolet Bankshares from $86.00 to $104.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods increased their target price on Nicolet Bankshares from $85.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Nicolet Bankshares presently has a consensus rating of “Hold” and an average price target of $100.00.

Nicolet Bankshares Company Profile

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.