Short Interest in Nicolet Bankshares, Inc. (NYSE:NIC) Rises By 30.9%

Nicolet Bankshares, Inc. (NYSE:NIC) saw a significant increase in short interest in March. As of March 15th, there was short interest totalling 173,500 shares, an increase of 30.9% from the February 28th total of 132,500 shares. Approximately 1.3% of the shares of the stock are short sold. Based on an average trading volume of 65,400 shares, the short-interest ratio is currently 2.7 days.

Nicolet Bankshares Stock Up 0.8 %

Shares of NYSE NIC traded up $0.84 during midday trading on Wednesday, reaching $110.15. 54,135 shares of the company’s stock traded hands, compared to its average volume of 67,001. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 13.72 and a beta of 0.76. The stock’s 50 day simple moving average is $114.41 and its 200-day simple moving average is $107.93. Nicolet Bankshares has a one year low of $75.24 and a one year high of $121.52.

Nicolet Bankshares (NYSE:NIC) last announced its quarterly earnings data on Tuesday, January 21st. The company reported $2.17 EPS for the quarter, beating the consensus estimate of $1.94 by $0.23. Nicolet Bankshares had a net margin of 23.83% and a return on equity of 10.95%. On average, analysts predict that Nicolet Bankshares will post 8.18 EPS for the current fiscal year.

Nicolet Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Monday, March 10th. Nicolet Bankshares’s dividend payout ratio (DPR) is presently 13.95%.

Insider Activity at Nicolet Bankshares

In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 3,975 shares of Nicolet Bankshares stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $118.08, for a total value of $469,368.00. Following the transaction, the director now directly owns 30,317 shares of the company’s stock, valued at $3,579,831.36. The trade was a 11.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan L. Merkatoris sold 1,000 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $111.27, for a total transaction of $111,270.00. Following the sale, the director now owns 82,218 shares of the company’s stock, valued at approximately $9,148,396.86. This represents a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,527 shares of company stock valued at $996,674. Corporate insiders own 16.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Anchor Capital Advisors LLC raised its holdings in shares of Nicolet Bankshares by 0.4% in the 4th quarter. Anchor Capital Advisors LLC now owns 23,356 shares of the company’s stock valued at $2,450,000 after buying an additional 97 shares during the period. Rafferty Asset Management LLC increased its stake in Nicolet Bankshares by 1.4% in the fourth quarter. Rafferty Asset Management LLC now owns 8,531 shares of the company’s stock valued at $895,000 after purchasing an additional 120 shares during the period. Summit Investment Advisors Inc. grew its position in Nicolet Bankshares by 11.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,410 shares of the company’s stock valued at $148,000 after buying an additional 140 shares during the last quarter. Advisory Research Inc. boosted its holdings in Nicolet Bankshares by 0.3% in the 4th quarter. Advisory Research Inc. now owns 44,723 shares of the company’s stock valued at $4,692,000 after purchasing an additional 155 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Nicolet Bankshares by 2.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 5,815 shares of the company’s stock worth $610,000 after purchasing an additional 157 shares during the period. 43.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NIC has been the topic of several recent analyst reports. Keefe, Bruyette & Woods increased their target price on Nicolet Bankshares from $110.00 to $115.00 and gave the company a “market perform” rating in a research note on Thursday, January 23rd. Piper Sandler raised their price objective on Nicolet Bankshares from $119.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Maxim Group lifted their price target on shares of Nicolet Bankshares from $124.00 to $131.00 and gave the company a “buy” rating in a report on Thursday, January 23rd.

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.