Short Interest in Nicolet Bankshares Inc. (NYSE:NIC) Drops By 27.1%

Nicolet Bankshares Inc. (NYSE:NIC) was the target of a large drop in short interest during the month of February. As of February 27th, there was short interest totaling 633,900 shares, a drop of 27.1% from the February 12th total of 869,269 shares. Currently, 5.0% of the company’s shares are short sold. Based on an average daily trading volume, of 320,947 shares, the short-interest ratio is presently 2.0 days. Based on an average daily trading volume, of 320,947 shares, the short-interest ratio is presently 2.0 days. Currently, 5.0% of the company’s shares are short sold.

Nicolet Bankshares Stock Down 0.4%

NYSE NIC traded down $0.54 during trading hours on Monday, hitting $148.68. 168,252 shares of the company were exchanged, compared to its average volume of 204,957. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 15.17 and a beta of 0.77. The company has a 50 day moving average of $145.70 and a two-hundred day moving average of $134.50. Nicolet Bankshares has a 52-week low of $97.90 and a 52-week high of $163.11.

Nicolet Bankshares (NYSE:NIC) last announced its quarterly earnings data on Tuesday, January 20th. The company reported $2.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.18. Nicolet Bankshares had a return on equity of 12.49% and a net margin of 26.98%.The business had revenue of $103.99 million during the quarter, compared to analysts’ expectations of $79.67 million. Equities research analysts anticipate that Nicolet Bankshares will post 8.18 earnings per share for the current year.

Nicolet Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, March 2nd. Nicolet Bankshares’s payout ratio is 13.06%.

Analyst Ratings Changes

Several research firms have issued reports on NIC. Keefe, Bruyette & Woods raised their target price on Nicolet Bankshares from $165.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, January 22nd. Piper Sandler upgraded Nicolet Bankshares from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $148.00 to $185.00 in a report on Thursday, February 19th. Hovde Group reissued an “outperform” rating and set a $190.00 price objective on shares of Nicolet Bankshares in a research report on Tuesday, January 27th. Weiss Ratings restated a “buy (b)” rating on shares of Nicolet Bankshares in a report on Thursday, January 22nd. Finally, Zacks Research upgraded shares of Nicolet Bankshares from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 30th. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $179.50.

Insider Activity

In other news, Director Robert Bruce Atwell sold 3,309 shares of Nicolet Bankshares stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $149.82, for a total transaction of $495,754.38. Following the sale, the director owned 34,054 shares of the company’s stock, valued at approximately $5,101,970.28. The trade was a 8.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 13,036 shares of company stock worth $1,992,022. 14.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nicolet Bankshares

Several large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised its stake in Nicolet Bankshares by 3,940.0% in the second quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock valued at $25,000 after buying an additional 197 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Nicolet Bankshares during the 3rd quarter worth about $43,000. Meeder Asset Management Inc. acquired a new position in shares of Nicolet Bankshares during the 4th quarter worth about $48,000. Clearstead Advisors LLC increased its holdings in shares of Nicolet Bankshares by 192.9% in the 4th quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock valued at $55,000 after acquiring an additional 297 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in shares of Nicolet Bankshares by 45.1% in the 3rd quarter. Parkside Financial Bank & Trust now owns 589 shares of the company’s stock valued at $79,000 after acquiring an additional 183 shares during the last quarter. Hedge funds and other institutional investors own 43.06% of the company’s stock.

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.