Insider Selling: Nicolet Bankshares (NYSE:NIC) EVP Sells $58,810.32 in Stock

Nicolet Bankshares Inc. (NYSE:NIC) EVP Eric James Witczak sold 342 shares of the 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 sale, the executive vice president directly owned 33,288 shares of the company’s stock, valued at approximately $5,724,204.48. This represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Eric James Witczak also recently made the following trade(s):

• On Monday, July 27th, Eric James Witczak sold 1,215 shares of Nicolet Bankshares stock. The shares were sold at an average price of $167.89, for a total transaction of $203,986.35.

Nicolet Bankshares Stock Performance

Shares of NIC opened at $170.89 on Friday. The stock has a market capitalization of $3.63 billion, a P/E ratio of 19.40 and a beta of 0.65. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.90 and a current ratio of 0.90. Nicolet Bankshares Inc. has a 1 year low of $114.11 and a 1 year high of $174.00. The company’s fifty day moving average is $156.34 and its two-hundred day moving average is $150.69.

Nicolet Bankshares (NYSE:NIC) last released its earnings results on Tuesday, July 21st. The company reported $2.99 EPS for the quarter, topping 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%. On average, sell-side 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 declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 1st. Nicolet Bankshares’s dividend payout ratio is currently 16.35%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Piper Sandler set a $194.00 price objective on Nicolet Bankshares in a report on Wednesday, July 22nd. Keefe, Bruyette & Woods increased their target price on Nicolet Bankshares from $175.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Raymond James Financial started coverage on Nicolet Bankshares in a research note on Tuesday, June 23rd. They set a “market perform” rating for the company. Weiss Ratings cut Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Finally, Zacks Research upgraded Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $183.00.

Institutional Trading of Nicolet Bankshares

A number of institutional investors have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB acquired a new position in Nicolet Bankshares during the second quarter worth about $728,000. Parallel Advisors LLC lifted its position in shares of Nicolet Bankshares by 151.9% during the 1st quarter. Parallel Advisors LLC now owns 607 shares of the company’s stock valued at $90,000 after acquiring an additional 366 shares during the period. Bank of America Corp DE boosted its stake in shares of Nicolet Bankshares by 109.8% during the 1st quarter. Bank of America Corp DE now owns 31,420 shares of the company’s stock worth $4,670,000 after acquiring an additional 16,446 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Nicolet Bankshares by 2.7% during the 1st quarter. Janus Henderson Group PLC now owns 104,081 shares of the company’s stock worth $15,466,000 after acquiring an additional 2,701 shares in the last quarter. Finally, Smith Group Asset Management LLC boosted its stake in shares of Nicolet Bankshares by 9.3% during the 1st quarter. Smith Group Asset Management LLC now owns 2,230 shares of the company’s stock worth $331,000 after acquiring an additional 189 shares in 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.