Key Points
- Director Robert Atwell sold 3,556 Nicolet Bankshares shares at an average price of $171.22, generating approximately $608,858. He retains 34,483 shares, a 9.35% reduction in his position.
- Nicolet reported quarterly EPS of $3.15, beating the $3.07 consensus estimate, while revenue of $174.43 million also exceeded forecasts. The company declared a quarterly dividend of $0.36 per share, equivalent to a 0.8% annualized yield.
- Analysts maintain a “Moderate Buy” consensus with an average price target of $184.80, compared with the stock’s reported opening price of $173.28; institutional investors own 43.06% of the shares.
Nicolet Bankshares Inc. (NYSE:NIC - Get Free Report) Director Robert Atwell sold 3,556 shares of the stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $171.22, for a total transaction of $608,858.32. Following the sale, the director directly owned 34,483 shares of the company's stock, valued at $5,904,179.26. This represents a 9.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Nicolet Bankshares Stock Performance
Nicolet Bankshares stock opened at $173.28 on Wednesday. Nicolet Bankshares Inc. has a 52-week low of $114.11 and a 52-week high of $180.00. The firm has a 50 day moving average price of $168.03 and a two-hundred day moving average price of $156.21. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of 19.17 and a beta of 0.64.
Nicolet Bankshares (NYSE:NIC - Get Free Report) last issued its quarterly earnings results on Tuesday, October 20th. The company reported $3.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.07 by $0.08. The firm had revenue of $174.43 million during the quarter, compared to analyst estimates of $173.64 million. As a group, equities research analysts predict that Nicolet Bankshares Inc. will post 12.10 EPS for the current fiscal year.
Nicolet Bankshares Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.36 per share. The ex-dividend date is Tuesday, December 1st. This represents a $1.44 annualized dividend and a dividend yield of 0.8%. Nicolet Bankshares's dividend payout ratio is 15.93%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sterling Capital Management LLC boosted its position in shares of Nicolet Bankshares by 58.0% during the 3rd quarter. Sterling Capital Management LLC now owns 474 shares of the company's stock worth $77,000 after purchasing an additional 174 shares in the last quarter. Genesee Capital Advisors LLC acquired a new stake in shares of Nicolet Bankshares in the 3rd quarter valued at about $262,000. State Street Corp grew its stake in shares of Nicolet Bankshares by 65.1% in the 2nd quarter. State Street Corp now owns 1,174,560 shares of the company's stock valued at $194,244,000 after buying an additional 463,199 shares during the period. Tidal Investments LLC acquired a new stake in shares of Nicolet Bankshares in the 2nd quarter valued at about $607,000. Finally, Squarepoint Ops LLC increased its position in Nicolet Bankshares by 0.7% in the 2nd quarter. Squarepoint Ops LLC now owns 16,960 shares of the company's stock valued at $2,805,000 after buying an additional 119 shares in the last quarter. 43.06% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on NIC shares. Piper Sandler boosted their target price on shares of Nicolet Bankshares from $194.00 to $196.00 and gave the company an "overweight" rating in a report on Wednesday, October 21st. Keefe, Bruyette & Woods increased their price target on Nicolet Bankshares from $175.00 to $185.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. Stephens increased their price target on Nicolet Bankshares from $185.00 to $190.00 and gave the stock an "equal weight" rating in a report on Friday, October 23rd. Finally, Weiss Ratings lowered Nicolet Bankshares from a "buy (a+)" rating to a "buy (a)" rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $184.80.
Get Our Latest Stock Report on NIC
About Nicolet Bankshares
(
Get Free Report)
Nicolet Bankshares, Inc is a bank holding company headquartered in Green Bay, Wisconsin. Through its principal subsidiary, Nicolet National Bank, the company provides banking and financial services to individuals, families, businesses and organizations.
Nicolet National Bank offers commercial and consumer lending, deposit accounts, residential and commercial real estate financing, treasury management and other business banking services. Its offerings also include wealth management, trust and investment services, mortgage banking and related financial solutions.
Founded in 2000, Nicolet has built a community-banking franchise serving customers primarily in Wisconsin and neighboring market areas.
Further Reading
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