Short Interest in Nicolet Bankshares, Inc. (NYSE:NIC) Increases By 30.9%

Nicolet Bankshares, Inc. (NYSE:NIC) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 173,500 shares, a growth of 30.9% from the February 28th total of 132,500 shares. Currently, 1.3% of the company’s shares are short sold. Based on an average daily volume of 65,400 shares, the days-to-cover ratio is currently 2.7 days.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on NIC shares. Piper Sandler lifted their price target on Nicolet Bankshares from $119.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Maxim Group lifted their target price on Nicolet Bankshares from $124.00 to $131.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods upped their target price on Nicolet Bankshares from $110.00 to $115.00 and gave the company a “market perform” rating in a report on Thursday, January 23rd.

Nicolet Bankshares Stock Down 0.1 %

Shares of NYSE NIC traded down $0.09 during mid-day trading on Monday, reaching $109.02. The company had a trading volume of 72,690 shares, compared to its average volume of 50,299. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.96 and a current ratio of 0.96. Nicolet Bankshares has a twelve month low of $75.24 and a twelve month high of $121.52. The stock’s 50 day moving average is $114.37 and its 200-day moving average is $107.83. The stock has a market capitalization of $1.66 billion, a PE ratio of 13.58 and a beta of 0.76.

Nicolet Bankshares (NYSE:NIC) last issued its earnings results on Tuesday, January 21st. The company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.23. Nicolet Bankshares had a return on equity of 10.95% and a net margin of 23.83%. As a group, equities analysts anticipate that Nicolet Bankshares will post 8.18 earnings per share for the current fiscal year.

Nicolet Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.03%. Nicolet Bankshares’s dividend payout ratio is currently 13.95%.

Insider Buying and Selling

In other news, Director Susan L. Merkatoris sold 1,000 shares of Nicolet Bankshares stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $111.27, for a total value of $111,270.00. Following the transaction, the director now directly owns 82,218 shares of the company’s stock, valued at $9,148,396.86. This trade represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert Bruce Atwell sold 3,102 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $117.65, for a total transaction of $364,950.30. Following the sale, the director now owns 33,816 shares in the company, valued at $3,978,452.40. This represents a 8.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,527 shares of company stock valued at $996,674. 16.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nicolet Bankshares

Large investors have recently bought and sold shares of the business. Heck Capital Advisors LLC bought a new position in Nicolet Bankshares during the fourth quarter valued at about $629,000. North Star Asset Management Inc. increased its holdings in shares of Nicolet Bankshares by 1.2% during the 4th quarter. North Star Asset Management Inc. now owns 46,088 shares of the company’s stock valued at $4,835,000 after acquiring an additional 548 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Nicolet Bankshares by 24.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,856 shares of the company’s stock valued at $2,922,000 after acquiring an additional 5,492 shares in the last quarter. Rafferty Asset Management LLC lifted its holdings in Nicolet Bankshares by 1.4% in the 4th quarter. Rafferty Asset Management LLC now owns 8,531 shares of the company’s stock worth $895,000 after purchasing an additional 120 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Nicolet Bankshares during the fourth quarter worth approximately $61,000. 43.06% of the stock is currently owned by institutional investors.

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.