Key Points
- Director sale: Robert Bruce Atwell sold 2,662 Nicolet Bankshares shares for approximately $453,179 at an average price of $170.24, reducing his holdings by 7.17% to 34,483 shares.
- Strong quarterly results: Nicolet reported quarterly EPS of $2.99, beating estimates of $2.85, while revenue of $177.75 million also exceeded expectations of $171.93 million.
- Stock and outlook: NIC shares opened at $173.02, near their 52-week high of $173.48. Analysts maintain a “Moderate Buy” consensus with an average price target of $183, and the company declared a quarterly dividend of $0.36 per share.
Nicolet Bankshares Inc. (NYSE:NIC - Get Free Report) Director Robert Bruce Atwell sold 2,662 shares of the company's stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $170.24, for a total value of $453,178.88. Following the transaction, the director owned 34,483 shares of the company's stock, valued at approximately $5,870,385.92. This represents a 7.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Nicolet Bankshares Stock Performance
Shares of NIC stock opened at $173.02 on Wednesday. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of 19.64 and a beta of 0.65. The stock has a fifty day moving average of $154.63 and a 200 day moving average of $149.92. Nicolet Bankshares Inc. has a 52 week low of $114.11 and a 52 week high of $173.48. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.04.
Nicolet Bankshares (NYSE:NIC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $2.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.85 by $0.14. Nicolet Bankshares had a net margin of 21.77% and a return on equity of 11.36%. The business had revenue of $177.75 million for the quarter, compared to the consensus estimate of $171.93 million. As a group, research analysts expect that Nicolet Bankshares Inc. will post 12.3 earnings per share for the current year.
Nicolet Bankshares Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.8%. Nicolet Bankshares's payout ratio is presently 16.35%.
Institutional Investors Weigh In On Nicolet Bankshares
Several hedge funds have recently added to or reduced their stakes in NIC. PDT Partners LLC grew its stake in shares of Nicolet Bankshares by 1.8% in the second quarter. PDT Partners LLC now owns 5,572 shares of the company's stock worth $688,000 after acquiring an additional 100 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Nicolet Bankshares by 4.9% in the 4th quarter. ProShare Advisors LLC now owns 2,424 shares of the company's stock worth $294,000 after purchasing an additional 113 shares during the last quarter. LPL Financial LLC raised its position in shares of Nicolet Bankshares by 4.6% in the 4th quarter. LPL Financial LLC now owns 2,836 shares of the company's stock worth $344,000 after purchasing an additional 126 shares during the last quarter. Bank of Montreal Can boosted its stake in Nicolet Bankshares by 0.6% in the 4th quarter. Bank of Montreal Can now owns 23,181 shares of the company's stock worth $2,829,000 after purchasing an additional 147 shares in the last quarter. Finally, Smith Group Asset Management LLC boosted its stake in Nicolet Bankshares by 9.3% in the 1st quarter. Smith Group Asset Management LLC now owns 2,230 shares of the company's stock worth $331,000 after purchasing an additional 189 shares in the last quarter. 43.06% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms have weighed in on NIC. Weiss Ratings cut Nicolet Bankshares from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday, May 18th. Hovde Group lowered their target price on Nicolet Bankshares from $190.00 to $180.00 and set an "outperform" rating for the company in a research note on Thursday, April 23rd. Zacks Research upgraded Nicolet Bankshares from a "strong sell" rating to a "hold" rating in a research report on Monday, June 22nd. Raymond James Financial began coverage on Nicolet Bankshares in a research note on Tuesday, June 23rd. They issued a "market perform" rating on the stock. Finally, Piper Sandler set a $194.00 price objective on Nicolet Bankshares in a report on Wednesday, July 22nd. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $183.00.
View Our Latest Stock Analysis on Nicolet Bankshares
About Nicolet Bankshares
(
Get Free Report)
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.
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