Nicolet Bankshares (NYSE:NIC) Stock: Insider Robert Bruce Atwell Sells 3,556 Shares

Nicolet Bankshares Inc. (NYSE:NIC) Director Robert Atwell sold 3,556 shares of the stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $171.22, for a total value of $608,858.32. Following the sale, the director directly owned 34,483 shares of the company’s stock, valued at approximately $5,904,179.26. This trade represents a 9.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Nicolet Bankshares Trading Up 0.3%

Shares of Nicolet Bankshares stock traded up $0.57 on Tuesday, hitting $173.28. The stock had a trading volume of 178,669 shares, compared to its average volume of 209,844. 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 one year low of $114.11 and a one year high of $180.00. The stock’s 50-day simple moving average is $168.11 and its two-hundred day simple moving average is $155.97. The stock has a market cap of $3.63 billion, a price-to-earnings ratio of 19.17 and a beta of 0.64.

Nicolet Bankshares (NYSE:NIC) last posted its quarterly earnings results on Tuesday, October 20th. The company reported $3.15 EPS for the quarter, beating analysts’ consensus estimates of $3.07 by $0.08. Nicolet Bankshares had a net margin of 22.11% and a return on equity of 11.71%. The company had revenue of $174.43 million during the quarter, compared to analyst estimates of $173.64 million. As a group, sell-side analysts predict that Nicolet Bankshares Inc. will post 12.10 EPS for the current year.

Nicolet Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be given a $0.36 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.8%. Nicolet Bankshares’s payout ratio is presently 15.93%.

Institutional Trading of Nicolet Bankshares

Large investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC lifted its position in shares of Nicolet Bankshares by 58.0% in the 3rd quarter. Sterling Capital Management LLC now owns 474 shares of the company’s stock worth $77,000 after purchasing an additional 174 shares during the period. Genesee Capital Advisors LLC purchased a new position in shares of Nicolet Bankshares during the third quarter valued at about $262,000. State Street Corp increased its position in shares of Nicolet Bankshares by 65.1% during the second quarter. State Street Corp now owns 1,174,560 shares of the company’s stock valued at $194,244,000 after buying an additional 463,199 shares during the period. Tidal Investments LLC bought a new position in Nicolet Bankshares in the second quarter worth about $607,000. Finally, Squarepoint Ops LLC raised its stake in Nicolet Bankshares by 0.7% in the second quarter. Squarepoint Ops LLC now owns 16,960 shares of the company’s stock worth $2,805,000 after buying an additional 119 shares in the last quarter. Institutional investors own 43.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Weiss Ratings downgraded shares of Nicolet Bankshares from a “buy (a+)” rating to a “buy (a)” rating in a research note on Friday. Keefe, Bruyette & Woods raised their target price on Nicolet Bankshares from $175.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Stephens boosted their price target on Nicolet Bankshares from $185.00 to $190.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Piper Sandler upped their price target on Nicolet Bankshares from $194.00 to $196.00 and gave the company an “overweight” rating in a research report on Wednesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $184.80.

About Nicolet Bankshares

Nicolet Bankshares, Inc is a bank holding company headquartered in Green Bay, Wisconsin. Through its principal subsidiary, Nicolet National Bank, the company provides banking and financial services to individuals, families, businesses and organizations.

Nicolet National Bank offers commercial and consumer lending, deposit accounts, residential and commercial real estate financing, treasury management and other business banking services. Its offerings also include wealth management, trust and investment services, mortgage banking and related financial solutions.

Founded in 2000, Nicolet has built a community-banking franchise serving customers primarily in Wisconsin and neighboring market areas.