Nicolet Bankshares (NYSE:NIC) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Key Points

• Nicolet Bankshares beat quarterly expectations: Earnings per share came in at $3.15, $0.08 above estimates, while revenue reached $174.43 million versus the $173.64 million consensus.
• Shares rose following the report, trading at $165.04, with a $3.46 billion market capitalization and a price-to-earnings ratio of 18.73.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $183; however, company insiders sold approximately $716,000 of stock over the past 90 days.

Nicolet Bankshares (NYSE:NIC - Get Free Report) issued its earnings results on Tuesday. The company reported $3.15 earnings per share for the quarter, topping analysts' consensus estimates of $3.07 by $0.08, FiscalAI reports. Nicolet Bankshares had a net margin of 21.77% and a return on equity of 11.36%. The business had revenue of $174.43 million for the quarter, compared to the consensus estimate of $173.64 million.

Nicolet Bankshares Stock Performance

Shares of NIC stock traded up $2.46 during trading on Tuesday, reaching $165.04. 247,636 shares of the company's stock were exchanged, compared to its average volume of 209,986. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $3.46 billion, a PE ratio of 18.73 and a beta of 0.64. Nicolet Bankshares has a twelve month low of $114.11 and a twelve month high of $180.00. The firm's fifty day moving average price is $168.92 and its 200-day moving average price is $159.42.

Insiders Place Their Bets

In other Nicolet Bankshares news, Director Robert Atwell sold 2,662 shares of Nicolet Bankshares stock in a transaction on Friday, July 24th. The shares were sold at an average price of $170.24, for a total transaction of $453,178.88. Following the completion of the transaction, the director directly owned 34,483 shares of the company's stock, valued at $5,870,385.92. The trade was a 7.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Eric Witczak sold 342 shares of the company's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $171.96, for a total transaction of $58,810.32. Following the completion of the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 4,219 shares of company stock worth $715,976. 7.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Zacks Research upgraded shares of Nicolet Bankshares from a "strong sell" rating to a "hold" rating in a research note on Monday, June 22nd. Keefe, Bruyette & Woods boosted their price objective on shares of Nicolet Bankshares from $175.00 to $185.00 and gave the stock an "outperform" rating in a research note on Thursday, July 23rd. Raymond James Financial assumed coverage on shares of Nicolet Bankshares in a research note on Tuesday, June 23rd. They set a "market perform" rating on the stock. Weiss Ratings raised shares of Nicolet Bankshares from a "buy (a)" rating to a "buy (a+)" rating in a report on Thursday, October 8th. Finally, Piper Sandler set a $194.00 target price on shares of Nicolet Bankshares in a research note on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $183.00.

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.

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