Nicolet Bankshares (NYSE:NIC) Stock: Insider Robert Bruce Atwell Sells 3,556 Shares

Nicolet Bankshares Inc. (NYSE:NIC) Director Robert Atwell sold 3,556 shares of the firm’s stock in a transaction 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 completion of the transaction, the director directly owned 34,483 shares of the company’s stock, valued at approximately $5,904,179.26. The trade was a 9.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Nicolet Bankshares Stock Down 1.4%

NIC opened at $170.82 on Thursday. The firm has a market capitalization of $3.58 billion, a P/E ratio of 18.90 and a beta of 0.64. Nicolet Bankshares Inc. has a one year low of $114.11 and a one year high of $180.00. The company has a fifty day moving average price of $167.91 and a 200-day moving average price of $156.43. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.90 and a quick ratio of 0.90.

Nicolet Bankshares (NYSE:NIC) last issued its quarterly earnings data 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 company had revenue of $174.43 million for the quarter, compared to the consensus estimate of $173.64 million. Nicolet Bankshares had a return on equity of 11.71% and a net margin of 22.11%. Equities research analysts expect that Nicolet Bankshares Inc. will post 12.10 earnings per share for the current fiscal year.

Nicolet Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, December 1st. Nicolet Bankshares’s dividend payout ratio is currently 15.93%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on NIC shares. Weiss Ratings cut Nicolet Bankshares from a “buy (a+)” rating to a “buy (a)” rating in a report on Friday, October 23rd. Keefe, Bruyette & Woods boosted their price objective on Nicolet Bankshares from $175.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Stephens upped their price objective on shares of Nicolet Bankshares from $185.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Friday, October 23rd. Finally, Piper Sandler upped their price objective on shares of Nicolet Bankshares from $194.00 to $196.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 21st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $184.80.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Nicolet Bankshares by 86.3% during the second quarter. BlackRock Inc. now owns 3,027,246 shares of the company’s stock valued at $500,676,000 after purchasing an additional 1,402,419 shares in the last quarter. State Street Corp lifted its stake in Nicolet Bankshares by 65.1% during the second quarter. State Street Corp now owns 1,174,560 shares of the company’s stock worth $194,244,000 after purchasing an additional 463,199 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Nicolet Bankshares by 32.1% during the first quarter. Dimensional Fund Advisors LP now owns 819,274 shares of the company’s stock worth $121,756,000 after purchasing an additional 198,997 shares during the last quarter. Jennison Associates LLC bought a new stake in Nicolet Bankshares during the first quarter worth about $31,794,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Nicolet Bankshares by 0.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 204,236 shares of the company’s stock worth $30,354,000 after purchasing an additional 746 shares in the last quarter. 43.06% of the stock is currently owned by hedge funds and other institutional investors.

Nicolet Bankshares Company Profile

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.