Nicolet Bankshares (NYSE:NIC) Hits New 52-Week High at $104.18

Nicolet Bankshares, Inc. (NYSE:NIC)’s stock price reached a new 52-week high on Monday . The stock traded as high as $104.18 and last traded at $104.18, with a volume of 584 shares trading hands. The stock had previously closed at $103.65.

Wall Street Analysts Forecast Growth

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

Nicolet Bankshares Stock Down 0.7 %

The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.54 billion, a P/E ratio of 15.97 and a beta of 0.77. The firm’s 50 day moving average price is $83.97 and its two-hundred day moving average price is $81.53.

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 $0.28 dividend. This is a positive change from Nicolet Bankshares’s previous quarterly dividend of $0.25. This represents a $1.12 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Monday, June 3rd. Nicolet Bankshares’s payout ratio is presently 17.26%.

Insiders Place Their Bets

In related news, EVP Brad Vincent Hutjens sold 10,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $2,637,558. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Brad Vincent Hutjens sold 10,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $99.00, for a total value of $990,000.00. Following the completion of the transaction, the executive vice president now directly owns 26,642 shares of the company’s stock, valued at $2,637,558. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Susan L. Merkatoris sold 1,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $76.70, for a total transaction of $76,700.00. Following the sale, the director now directly owns 88,218 shares in the company, valued at $6,766,320.60. The disclosure for this sale can be found here. Insiders have sold 31,528 shares of company stock valued at $3,053,362 in the last three months. 16.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nicolet Bankshares

A number of institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in shares of Nicolet Bankshares during the 4th quarter worth approximately $238,000. Anchor Capital Advisors LLC boosted its position in 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 purchasing an additional 6,285 shares during the period. Merit Financial Group LLC boosted its position in 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 purchasing an additional 246 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Nicolet Bankshares by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 101,665 shares of the company’s stock valued at $8,182,000 after purchasing an additional 2,036 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of 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 period. Institutional investors and hedge funds own 43.06% of the company’s stock.

About Nicolet Bankshares

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.