Nicolet Bankshares (NYSE:NIC) Sees Strong Trading Volume After Analyst Upgrade

Nicolet Bankshares, Inc. (NYSE:NIC) shares saw strong trading volume on Friday after Stephens raised their price target on the stock from $90.00 to $110.00. Stephens currently has an equal weight rating on the stock. 24,200 shares were traded during mid-day trading, a decline of 37% from the previous session’s volume of 38,601 shares.The stock last traded at $97.43 and had previously closed at $98.33.

Other equities research analysts also recently issued reports about the stock. Keefe, Bruyette & Woods raised their price objective on shares of Nicolet Bankshares from $85.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, April 18th. Piper Sandler raised their price objective on shares of Nicolet Bankshares from $86.00 to $104.00 and gave the stock a “neutral” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Nicolet Bankshares currently has an average rating of “Hold” and an average price target of $98.75.

Insider Transactions at Nicolet Bankshares

In other news, Director Susan L. Merkatoris sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $76.70, for a total transaction of $76,700.00. Following the transaction, the director now directly owns 88,218 shares of the company’s stock, valued at $6,766,320.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Susan L. Merkatoris sold 1,000 shares of Nicolet Bankshares stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $76.70, for a total value of $76,700.00. Following the transaction, the director now directly owns 88,218 shares of the company’s stock, valued at $6,766,320.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan L. Merkatoris sold 522 shares of Nicolet Bankshares stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $79.00, for a total transaction of $41,238.00. Following the completion of the transaction, the director now directly owns 91,702 shares in the company, valued at $7,244,458. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,528 shares of company stock valued at $118,412. 16.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Nicolet Bankshares during the fourth quarter worth $238,000. Anchor Capital Advisors LLC grew its stake in shares of Nicolet Bankshares by 40.6% during the fourth quarter. Anchor Capital Advisors LLC now owns 21,769 shares of the company’s stock worth $1,752,000 after buying an additional 6,285 shares during the last quarter. Merit Financial Group LLC grew its stake in shares of Nicolet Bankshares by 8.0% during the fourth quarter. Merit Financial Group LLC now owns 3,331 shares of the company’s stock worth $268,000 after buying an additional 246 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Nicolet Bankshares by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 101,665 shares of the company’s stock worth $8,182,000 after buying an additional 2,036 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Nicolet Bankshares by 3.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 542,091 shares of the company’s stock worth $43,629,000 after buying an additional 20,299 shares during the last quarter. 43.06% of the stock is owned by institutional investors.

Nicolet Bankshares Trading Down 0.6 %

The business’s 50 day simple moving average is $81.70 and its two-hundred day simple moving average is $80.54. The stock has a market cap of $1.46 billion, a P/E ratio of 15.15 and a beta of 0.77. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.15.

Nicolet Bankshares (NYSE:NIC) last issued its quarterly earnings results on Tuesday, April 16th. The company reported $1.72 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.02). The business had revenue of $82.73 million for the quarter, compared to analyst estimates of $81.40 million. Nicolet Bankshares had a return on equity of 10.37% and a net margin of 21.13%. As a group, analysts expect that Nicolet Bankshares, Inc. will post 7.03 EPS for the current year.

Nicolet Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, June 3rd were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Monday, June 3rd. This is a positive change from Nicolet Bankshares’s previous quarterly dividend of $0.25. Nicolet Bankshares’s payout ratio is 17.26%.

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.