Nicolet Bankshares (NYSE:NIC) Issues Quarterly Earnings Results

Nicolet Bankshares (NYSE:NIC) issued its earnings results on Tuesday. The company reported $2.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.18, FiscalAI reports. Nicolet Bankshares had a return on equity of 12.65% and a net margin of 26.98%.The business had revenue of $80.89 million during the quarter, compared to the consensus estimate of $79.67 million.

Nicolet Bankshares Price Performance

Shares of NYSE NIC opened at $144.84 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.11. The company’s 50-day moving average price is $126.77 and its 200 day moving average price is $129.35. Nicolet Bankshares has a 52 week low of $97.90 and a 52 week high of $145.20. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 14.78 and a beta of 0.78.

Nicolet Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Monday, March 2nd. Nicolet Bankshares’s dividend payout ratio is presently 13.70%.

Insider Activity

In related news, CFO Hubert Phillip Moore, Jr. bought 240 shares of the stock in a transaction on Thursday, October 30th. The shares were purchased at an average price of $115.84 per share, for a total transaction of $27,801.60. Following the acquisition, the chief financial officer owned 32,947 shares in the company, valued at $3,816,580.48. This represents a 0.73% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert J. Weyers purchased 3,000 shares of the company’s stock in a transaction on Thursday, October 30th. The shares were bought at an average cost of $115.73 per share, with a total value of $347,190.00. Following the transaction, the director directly owned 26,250 shares of the company’s stock, valued at $3,037,912.50. This represents a 12.90% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 3,370 shares of company stock worth $390,760 in the last ninety days. Insiders own 16.40% of the company’s stock.

Institutional Trading of Nicolet Bankshares

A number of large investors have recently made changes to their positions in NIC. PDT Partners LLC increased its position 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 in the last quarter. EverSource Wealth Advisors LLC boosted its position in Nicolet Bankshares by 3,940.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock worth $25,000 after purchasing an additional 197 shares during the period. Swiss National Bank increased its holdings in Nicolet Bankshares by 0.8% in the 3rd quarter. Swiss National Bank now owns 26,300 shares of the company’s stock valued at $3,537,000 after purchasing an additional 200 shares in the last quarter. California State Teachers Retirement System raised its position in Nicolet Bankshares by 1.8% in the second quarter. California State Teachers Retirement System now owns 12,515 shares of the company’s stock valued at $1,545,000 after purchasing an additional 225 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of Nicolet Bankshares by 7.1% during the third quarter. Victory Capital Management Inc. now owns 6,222 shares of the company’s stock worth $837,000 after purchasing an additional 413 shares in the last quarter. Institutional investors and hedge funds own 43.06% of the company’s stock.

Analyst Upgrades and Downgrades

NIC has been the subject of several research analyst reports. Piper Sandler increased their price objective on Nicolet Bankshares from $145.00 to $148.00 and gave the stock a “neutral” rating in a research report on Wednesday. Zacks Research raised shares of Nicolet Bankshares from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Nicolet Bankshares in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Nicolet Bankshares from $160.00 to $165.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $158.00.

Nicolet Bankshares Company Profile

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.