Nicolet Bankshares (NYSE:NIC) Reaches New 12-Month High – Here’s What Happened

Nicolet Bankshares Inc. (NYSE:NIC)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $176.79 and last traded at $176.74, with a volume of 78655 shares. The stock had previously closed at $173.34.

Analysts Set New Price Targets

NIC has been the subject of a number of analyst reports. Weiss Ratings upgraded shares of Nicolet Bankshares from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, August 3rd. Piper Sandler set a $194.00 price objective on Nicolet Bankshares in a research note on Wednesday, July 22nd. Raymond James Financial started coverage on Nicolet Bankshares in a report on Tuesday, June 23rd. They issued a “market perform” rating for the company. Hovde Group cut their target price on Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Finally, Keefe, Bruyette & Woods boosted their price target on Nicolet Bankshares from $175.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.00.

Nicolet Bankshares Stock Up 2.1%

The stock has a market capitalization of $3.71 billion, a P/E ratio of 20.10 and a beta of 0.65. The firm’s fifty day moving average is $160.32 and its 200-day moving average is $152.68. 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 results on Tuesday, July 21st. The company reported $2.99 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.14. The firm had revenue of $177.75 million for the quarter, compared to analyst estimates of $171.93 million. Nicolet Bankshares had a net margin of 21.77% and a return on equity of 11.36%. As a group, equities research analysts predict that Nicolet Bankshares Inc. will post 12.3 earnings per share for the current year.

Nicolet Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued 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%.

Insider Buying and Selling

In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 2,662 shares of Nicolet Bankshares stock in a transaction on Friday, July 24th. The stock was sold at an average price of $170.24, for a total value of $453,178.88. Following the completion of the transaction, the director owned 34,483 shares in the company, valued at approximately $5,870,385.92. The trade was a 7.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Eric James Witczak sold 342 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $171.96, for a total value of $58,810.32. Following the completion of the transaction, the executive vice president directly owned 33,288 shares in the company, valued at approximately $5,724,204.48. This represents a 1.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 4,219 shares of company stock worth $715,976. 7.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its position in Nicolet Bankshares by 3,940.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock worth $25,000 after buying an additional 197 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of Nicolet Bankshares in the fourth quarter worth about $48,000. Clearstead Advisors LLC raised its stake in shares of Nicolet Bankshares by 192.9% in 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 lifted its position in shares of 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 purchasing an additional 366 shares in the last quarter. Finally, UMB Bank n.a. acquired a new position in shares of Nicolet Bankshares during the fourth quarter worth approximately $102,000. 43.06% of the stock is owned by institutional investors.

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.