Nicolet Bankshares (NYSE:NIC) Director Sells 3,556 Shares of Company Stock

Key Points

• Director Robert Atwell sold 3,556 Nicolet Bankshares shares at an average price of $171.22, generating approximately $608,858. He retained 34,483 shares after the transaction, a 9.35% reduction in his holdings.
• Nicolet reported quarterly EPS of $3.15, exceeding the $3.07 consensus estimate, while revenue of $174.43 million also topped expectations.
• The stock traded near $173.28, close to its 52-week high, and analysts maintained a “Moderate Buy” consensus with an average price target of $184.80; the company also announced a $0.36 quarterly dividend.

Nicolet Bankshares Inc. (NYSE:NIC - Get Free Report) Director Robert Atwell sold 3,556 shares of the company's stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $171.22, for a total value of $608,858.32. Following the completion of the transaction, the director owned 34,483 shares in the company, valued at $5,904,179.26. This represents a 9.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Nicolet Bankshares Price Performance

Shares of NYSE:NIC traded up $0.57 on Tuesday, hitting $173.28. The company's stock had a trading volume of 178,669 shares, compared to its average volume of 209,844. The company has a market capitalization of $3.63 billion, a PE ratio of 19.17 and a beta of 0.64. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.90 and a quick ratio of 0.90. The company has a 50-day simple moving average of $168.11 and a 200 day simple moving average of $155.97. Nicolet Bankshares Inc. has a 1 year low of $114.11 and a 1 year high of $180.00.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 20th. The company reported $3.15 EPS for the quarter, topping the consensus estimate of $3.07 by $0.08. The company had revenue of $174.43 million during the quarter, compared to analyst estimates of $173.64 million. Nicolet Bankshares had a return on equity of 11.71% and a net margin of 22.11%. Sell-side analysts forecast that Nicolet Bankshares Inc. will post 12.10 EPS for the current fiscal year.

Nicolet Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders 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 yield of 0.8%. Nicolet Bankshares's payout ratio is presently 15.93%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods increased their price target on shares of Nicolet Bankshares from $175.00 to $185.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. Weiss Ratings downgraded shares of Nicolet Bankshares from a "buy (a+)" rating to a "buy (a)" rating in a report on Friday. Stephens lifted their price objective on shares of Nicolet Bankshares from $185.00 to $190.00 and gave the stock an "equal weight" rating in a report on Friday. Finally, Piper Sandler upped their target price 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 research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $184.80.

Hedge Funds Weigh In On Nicolet Bankshares

A number of large investors have recently added to or reduced their stakes in NIC. BlackRock Inc. boosted 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 buying an additional 1,402,419 shares during the period. State Street Corp increased its holdings in shares of Nicolet Bankshares by 65.1% in the second quarter. State Street Corp now owns 1,174,560 shares of the company's stock worth $194,244,000 after buying an additional 463,199 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Nicolet Bankshares by 32.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 819,274 shares of the company's stock valued at $121,756,000 after acquiring an additional 198,997 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of Nicolet Bankshares in the 1st quarter valued at about $31,794,000. Finally, The Manufacturers Life Insurance Company lifted its stake 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 valued at $30,354,000 after acquiring an additional 746 shares during the last quarter. Hedge funds and other institutional investors own 43.06% of the company's stock.

About Nicolet Bankshares

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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