Insider Selling: Nicolet Bankshares (NYSE:NIC) Director Sells $453,178.88 in Stock

Nicolet Bankshares Inc. (NYSE:NIC) Director Robert Bruce Atwell sold 2,662 shares of the business’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $170.24, for a total transaction of $453,178.88. Following the sale, the director directly owned 34,483 shares of the company’s stock, valued at $5,870,385.92. This represents a 7.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Nicolet Bankshares Trading Up 2.9%

Shares of NYSE NIC traded up $4.86 during mid-day trading on Tuesday, reaching $173.02. The company had a trading volume of 177,760 shares, compared to its average volume of 232,572. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 19.64 and a beta of 0.65. Nicolet Bankshares Inc. has a 52 week low of $114.11 and a 52 week high of $173.48. The business’s 50-day moving average is $153.96 and its 200-day moving average is $149.57. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.04.

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

Nicolet Bankshares Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Zacks Research upgraded Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Hovde Group decreased their price target on shares of Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Raymond James Financial initiated coverage on shares of Nicolet Bankshares in a report on Tuesday, June 23rd. They issued a “market perform” rating on the stock. Weiss Ratings lowered shares of Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Finally, Piper Sandler set a $194.00 target price on shares of Nicolet Bankshares in a research report on Wednesday, July 22nd. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $183.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Merit Financial Group LLC boosted its holdings in Nicolet Bankshares by 31.2% in the fourth quarter. Merit Financial Group LLC now owns 49,314 shares of the company’s stock worth $5,982,000 after acquiring an additional 11,729 shares in the last quarter. UBS Group AG increased its holdings in shares of Nicolet Bankshares by 61.1% during the fourth quarter. UBS Group AG now owns 49,213 shares of the company’s stock valued at $5,970,000 after acquiring an additional 18,657 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of Nicolet Bankshares in the 4th quarter valued at approximately $5,513,000. AlphaQuest LLC raised its position in shares of Nicolet Bankshares by 804.7% in the 4th quarter. AlphaQuest LLC now owns 16,782 shares of the company’s stock valued at $2,036,000 after purchasing an additional 14,927 shares during the last quarter. Finally, Heartland Advisors Inc. acquired a new stake in Nicolet Bankshares in the 1st quarter worth approximately $8,287,000. 43.06% of the stock is owned by institutional investors and hedge funds.

Nicolet Bankshares Company Profile

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.