Nicolet Bankshares (NYSE:NIC) Sets New 1-Year High – Here’s Why

Nicolet Bankshares, Inc. (NYSE:NIC) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $116.58 and last traded at $116.22, with a volume of 1800 shares. The stock had previously closed at $115.93.

Analyst Ratings Changes

Several equities research analysts have weighed in on NIC shares. Maxim Group upped their target price on Nicolet Bankshares from $124.00 to $131.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Piper Sandler lifted their price objective on Nicolet Bankshares from $119.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods increased their target price on shares of Nicolet Bankshares from $110.00 to $115.00 and gave the stock a “market perform” rating in a report on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $119.00.

Nicolet Bankshares Price Performance

The firm has a market capitalization of $1.79 billion, a PE ratio of 14.70 and a beta of 0.77. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a fifty day moving average price of $108.52 and a 200-day moving average price of $102.44.

Nicolet Bankshares (NYSE:NIC) last announced its earnings results on Tuesday, January 21st. The company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.23. Nicolet Bankshares had a net margin of 23.83% and a return on equity of 10.95%. Sell-side analysts forecast that Nicolet Bankshares, Inc. will post 8.1 EPS for the current fiscal year.

Nicolet Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date was Monday, December 2nd. Nicolet Bankshares’s dividend payout ratio (DPR) is presently 13.95%.

Insiders Place Their Bets

In other Nicolet Bankshares news, Director Susan L. Merkatoris sold 1,000 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $111.27, for a total transaction of $111,270.00. Following the sale, the director now owns 82,218 shares in the company, valued at approximately $9,148,396.86. The trade was a 1.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Bruce Atwell sold 3,446 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $113.00, for a total value of $389,398.00. Following the completion of the transaction, the director now directly owns 32,831 shares in the company, valued at $3,709,903. This represents a 9.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,504 shares of company stock valued at $4,924,888. Insiders own 16.40% of the company’s stock.

Institutional Trading of Nicolet Bankshares

Hedge funds and other institutional investors have recently made changes to their positions in the business. New York State Teachers Retirement System acquired a new position in Nicolet Bankshares in the fourth quarter valued at approximately $128,000. Quantbot Technologies LP purchased a new position in shares of Nicolet Bankshares during the 3rd quarter valued at approximately $155,000. Virtu Financial LLC acquired a new position in shares of Nicolet Bankshares in the 3rd quarter valued at $264,000. Quest Partners LLC boosted its holdings in Nicolet Bankshares by 858.0% during the third quarter. Quest Partners LLC now owns 2,922 shares of the company’s stock worth $279,000 after buying an additional 2,617 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in Nicolet Bankshares by 31.0% during the third quarter. BNP Paribas Financial Markets now owns 4,269 shares of the company’s stock valued at $408,000 after buying an additional 1,010 shares during the period. Institutional investors and hedge funds 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.