Nicolet Bankshares (NYSE:NIC) Sees Large Volume Increase

Nicolet Bankshares, Inc. (NYSE:NIC) shares saw an uptick in trading volume on Thursday . 18,696 shares traded hands during mid-day trading, a decline of 51% from the previous session’s volume of 37,971 shares.The stock last traded at $84.99 and had previously closed at $85.00.

Wall Street Analyst Weigh In

NIC has been the subject of several research analyst reports. Piper Sandler reiterated a “neutral” rating and set a $84.00 target price on shares of Nicolet Bankshares in a research note on Wednesday, January 10th. TheStreet upgraded shares of Nicolet Bankshares from a “c+” rating to a “b” rating in a research note on Wednesday, January 17th. Hovde Group upgraded shares of Nicolet Bankshares from a “market perform” rating to an “outperform” rating in a research note on Monday, March 4th. Stephens reiterated an “equal weight” rating and set a $90.00 target price on shares of Nicolet Bankshares in a research note on Wednesday, January 17th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Nicolet Bankshares from $84.00 to $85.00 and gave the company a “market perform” rating in a research note on Thursday, January 18th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Nicolet Bankshares has a consensus rating of “Hold” and a consensus target price of $88.50.

Nicolet Bankshares Trading Up 0.6 %

The business’s 50 day moving average price is $80.17 and its 200-day moving average price is $76.54. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 21.18 and a beta of 0.73.

Nicolet Bankshares (NYSE:NIC) last posted its earnings results on Tuesday, January 16th. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.12. Nicolet Bankshares had a net margin of 14.69% and a return on equity of 9.71%. The business had revenue of $89.20 million for the quarter, compared to analyst estimates of $78.30 million. On average, research analysts forecast that Nicolet Bankshares, Inc. will post 6.93 EPS for the current year.

Nicolet Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 8th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.17%. The ex-dividend date was Thursday, March 7th. Nicolet Bankshares’s payout ratio is 24.63%.

Insiders Place Their Bets

In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 2,000 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $81.93, for a total transaction of $163,860.00. Following the sale, the director now owns 42,889 shares of the company’s stock, valued at approximately $3,513,895.77. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Eric James Witczak sold 2,053 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $82.45, for a total value of $169,269.85. Following the transaction, the executive vice president now owns 41,427 shares of the company’s stock, valued at approximately $3,415,656.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Bruce Atwell sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $81.93, for a total transaction of $163,860.00. Following the completion of the transaction, the director now directly owns 42,889 shares in the company, valued at approximately $3,513,895.77. The disclosure for this sale can be found here. Insiders own 16.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NIC. PNC Financial Services Group Inc. raised its position in shares of Nicolet Bankshares by 1.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 14,250 shares of the company’s stock valued at $994,000 after acquiring an additional 250 shares during the period. FMR LLC raised its holdings in Nicolet Bankshares by 54.2% during the 3rd quarter. FMR LLC now owns 556,958 shares of the company’s stock worth $38,865,000 after buying an additional 195,707 shares during the period. Swiss National Bank raised its holdings in Nicolet Bankshares by 1.4% during the 3rd quarter. Swiss National Bank now owns 29,100 shares of the company’s stock worth $2,031,000 after buying an additional 400 shares during the period. KLCM Advisors Inc. acquired a new stake in Nicolet Bankshares during the 3rd quarter worth approximately $215,000. Finally, Barclays PLC raised its holdings in Nicolet Bankshares by 13.0% during the 3rd quarter. Barclays PLC now owns 13,081 shares of the company’s stock worth $913,000 after buying an additional 1,506 shares during the period. Institutional investors own 43.06% of the company’s stock.

Nicolet Bankshares Company Profile

Nicolet Bankshares, Inc operates as the bank holding company for Nicolet National Bank that provides banking products and services for businesses and individuals in Wisconsin and Michigan. The company accepts checking, savings, and money market accounts; various certificates of deposit; and individual retirement accounts.