Insider Selling: Nicolet Bankshares (NYSE:NIC) Director Sells 2,662 Shares

Key Points

• Director Robert Bruce Atwell sold 2,662 Nicolet Bankshares shares at an average price of $170.24, generating approximately $453,179. He retained 34,483 shares, reducing his ownership by 7.17%.
• Nicolet Bankshares reported quarterly earnings of $2.99 per share, beating analysts’ $2.85 estimate, while revenue of $177.75 million also exceeded expectations.
• The stock recently traded near its 52-week high at $173.02. Analysts maintain a “Moderate Buy” consensus, with an average price target of $183, and the company announced a quarterly dividend of $0.36 per share.

Nicolet Bankshares Inc. (NYSE:NIC - Get Free Report) Director Robert Bruce Atwell sold 2,662 shares of the company's stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $170.24, for a total value of $453,178.88. Following the sale, the director directly owned 34,483 shares in the company, valued at $5,870,385.92. This trade represents a 7.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Nicolet Bankshares Price Performance

Shares of NYSE NIC traded up $4.86 during midday trading on Tuesday, reaching $173.02. 177,760 shares of the stock traded hands, compared to its average volume of 232,572. The company's 50 day moving average is $153.96 and its 200 day moving average is $149.57. Nicolet Bankshares Inc. has a one year low of $114.11 and a one year high of $173.48. 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 stock has a market capitalization of $3.68 billion, a PE ratio of 19.64 and a beta of 0.65.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $2.99 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.14. Nicolet Bankshares had a net margin of 21.77% and a return on equity of 11.36%. The company had revenue of $177.75 million for the quarter, compared to analysts' expectations of $171.93 million. On average, equities research analysts anticipate that Nicolet Bankshares Inc. will post 12.3 earnings per share for the current year.

Nicolet Bankshares Dividend Announcement

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

Institutional Trading of Nicolet Bankshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its position in shares of Nicolet Bankshares by 3,940.0% during the second quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company's stock valued at $25,000 after buying an additional 197 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Nicolet Bankshares in the fourth quarter worth approximately $48,000. Clearstead Advisors LLC lifted its stake in shares of Nicolet Bankshares by 192.9% during the 4th quarter. Clearstead Advisors LLC now owns 451 shares of the company's stock worth $55,000 after acquiring an additional 297 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Nicolet Bankshares by 151.9% during the 1st quarter. Parallel Advisors LLC now owns 607 shares of the company's stock worth $90,000 after acquiring an additional 366 shares during the last quarter. Finally, UMB Bank n.a. purchased a new position in Nicolet Bankshares during the 4th quarter valued at $102,000. 43.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Keefe, Bruyette & Woods lifted their price target on Nicolet Bankshares from $175.00 to $185.00 and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. Hovde Group lowered their price objective on Nicolet Bankshares from $190.00 to $180.00 and set an "outperform" rating for the company in a research note on Thursday, April 23rd. Weiss Ratings cut Nicolet Bankshares from a "buy (b+)" rating to a "buy (b)" rating in a report on Monday, May 18th. Raymond James Financial began coverage on Nicolet Bankshares in a research report on Tuesday, June 23rd. They set a "market perform" rating on the stock. Finally, Piper Sandler set a $194.00 price target on Nicolet Bankshares in a report on Wednesday, July 22nd. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus 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 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.

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