Nicolet Bankshares (NYSE:NIC) Hits New 12-Month High – Here’s Why

Nicolet Bankshares Inc. (NYSE:NIC) reached a new 52-week high during trading on Wednesday . The company traded as high as $173.66 and last traded at $173.3150, with a volume of 58792 shares. The stock had previously closed at $173.16.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Weiss Ratings downgraded Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Hovde Group reduced their price objective on shares of Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Keefe, Bruyette & Woods boosted their target price on shares of Nicolet Bankshares from $175.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Piper Sandler set a $194.00 target price on shares of Nicolet Bankshares in a research report on Wednesday, July 22nd. Finally, Raymond James Financial started coverage on shares of Nicolet Bankshares in a research note on Tuesday, June 23rd. They set a “market perform” rating for the company. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.00.

Nicolet Bankshares Stock Down 0.9%

The company has a debt-to-equity ratio of 0.04, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $3.60 billion, a PE ratio of 19.25 and a beta of 0.65. The business has a 50-day moving average of $155.76 and a 200 day moving average of $150.55.

Nicolet Bankshares (NYSE:NIC) last released its quarterly earnings results on Tuesday, July 21st. The company reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.14. Nicolet Bankshares had a return on equity of 11.36% and a net margin of 21.77%.The business had revenue of $177.75 million during the quarter, compared to analysts’ expectations of $171.93 million. Equities research analysts predict that Nicolet Bankshares Inc. will post 12.3 earnings per share for the current year.

Nicolet Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 1st. Nicolet Bankshares’s dividend payout ratio is currently 16.35%.

Insiders Place Their Bets

In related news, Director Robert Bruce Atwell sold 2,662 shares of the firm’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $170.24, for a total value of $453,178.88. Following the completion of the transaction, the director directly owned 34,483 shares of the company’s stock, valued at approximately $5,870,385.92. This trade represents a 7.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Eric James Witczak sold 1,215 shares of the company’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $167.89, for a total transaction of $203,986.35. Following the sale, the executive vice president directly owned 33,630 shares in the company, valued at approximately $5,646,140.70. The trade was a 3.49% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 4,219 shares of company stock valued at $715,976. 7.20% of the stock is currently owned by insiders.

Institutional Trading of Nicolet Bankshares

Large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its holdings in shares of Nicolet Bankshares by 3,940.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock valued at $25,000 after acquiring an additional 197 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in Nicolet Bankshares in the fourth quarter worth about $48,000. Clearstead Advisors LLC increased its stake in Nicolet Bankshares by 192.9% during the fourth quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock worth $55,000 after acquiring an additional 297 shares during the last quarter. Parallel Advisors LLC increased its stake in Nicolet Bankshares by 151.9% during the first quarter. Parallel Advisors LLC now owns 607 shares of the company’s stock worth $90,000 after acquiring an additional 366 shares during the last quarter. Finally, UMB Bank n.a. purchased a new stake in Nicolet Bankshares during the fourth quarter valued at approximately $102,000. 43.06% of the stock is currently owned by institutional investors.

About Nicolet Bankshares

Nicolet Bankshares, Inc is a bank holding company headquartered in Green Bay, Wisconsin. Through its subsidiary, Nicolet National Bank, it provides a range of commercial and consumer banking services to businesses, individuals and nonprofit organizations across northeastern Wisconsin and the Upper Peninsula of Michigan. The company’s branch network, digital banking platform and commercial lending centers support its focus on community banking and regional growth.

The company offers deposit products such as checking, savings and money market accounts, alongside consumer and commercial lending solutions.