Nicolet Bankshares (NYSE:NIC) Reaches New 12-Month High – Here’s What Happened

Nicolet Bankshares Inc. (NYSE:NIC) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $176.79 and last traded at $176.74, with a volume of 78655 shares traded. The stock had previously closed at $173.34.

Wall Street Analysts Forecast Growth

NIC has been the subject of several research analyst reports. Hovde Group cut their price objective on Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Zacks Research raised Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Weiss Ratings raised shares of Nicolet Bankshares from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, August 3rd. Piper Sandler set a $194.00 price objective on shares of Nicolet Bankshares in a research report on Wednesday, July 22nd. Finally, Raymond James Financial started coverage on shares of Nicolet Bankshares in a research note on Tuesday, June 23rd. They issued a “market perform” rating on the stock. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $183.00.

Nicolet Bankshares Stock Up 2.1%

The business has a fifty day moving average price of $160.32 and a two-hundred day moving average price of $152.68. The company has a market cap of $3.71 billion, a price-to-earnings ratio of 20.10 and a beta of 0.65. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.04.

Nicolet Bankshares (NYSE:NIC) last released its earnings results on Tuesday, July 21st. The company reported $2.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.14. The company had revenue of $177.75 million during the quarter, compared to the consensus estimate of $171.93 million. Nicolet Bankshares had a net margin of 21.77% and a return on equity of 11.36%. On average, equities analysts predict that Nicolet Bankshares Inc. will post 12.3 earnings per share for the current year.

Nicolet Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.36 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.44 dividend on an annualized basis and a yield of 0.8%. Nicolet Bankshares’s payout ratio is 16.35%.

Insider Transactions at Nicolet Bankshares

In other news, EVP Eric James Witczak sold 342 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $171.96, for a total transaction of $58,810.32. Following the completion of the sale, the executive vice president owned 33,288 shares in the company, valued at approximately $5,724,204.48. This represents a 1.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert Bruce Atwell sold 2,662 shares of the company’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $170.24, for a total transaction of $453,178.88. Following the sale, the director owned 34,483 shares of the company’s stock, valued at $5,870,385.92. This trade represents a 7.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 4,219 shares of company stock valued at $715,976 in the last ninety days. Insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Johnson Financial Group Inc. acquired a new stake in Nicolet Bankshares during the second quarter worth $1,240,000. First National Bank of Omaha raised its stake in shares of Nicolet Bankshares by 18.5% in the 2nd quarter. First National Bank of Omaha now owns 14,676 shares of the company’s stock valued at $2,427,000 after buying an additional 2,289 shares in the last quarter. BlackRock Inc. raised its stake in shares of Nicolet Bankshares by 86.3% in the 2nd quarter. BlackRock Inc. now owns 3,027,246 shares of the company’s stock valued at $500,676,000 after buying an additional 1,402,419 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Nicolet Bankshares by 26.7% during the 2nd quarter. Deutsche Bank AG now owns 21,049 shares of the company’s stock worth $3,481,000 after acquiring an additional 4,442 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Nicolet Bankshares by 61.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 139,427 shares of the company’s stock worth $23,060,000 after acquiring an additional 53,319 shares during the period. 43.06% of the stock is currently owned by institutional investors and hedge funds.

About Nicolet Bankshares

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.