Insider Selling: Nicolet Bankshares (NYSE:NIC) Director Sells 3,331 Shares of Stock

Key Points

• Director Robert Bruce Atwell sold 3,331 shares on March 5 at an average price of $150.67 for about $501,882 and had previously sold 6,396 shares on Feb 18 at $155.47 (~$994,386), reducing his ownership by 8.91% to 34,054 shares (≈$5.13M).
• Nicolet Bankshares reported a quarterly earnings beat (EPS $2.73 vs. $2.55 estimate; revenue $103.99M vs. $79.67M), trades around $150 with a $2.23B market cap, pays a $0.32 quarterly dividend (annualized $1.28, 0.9% yield), and has received multiple analyst upgrades with a consensus target near $179.50.

Nicolet Bankshares Inc. (NYSE:NIC - Get Free Report) Director Robert Bruce Atwell sold 3,331 shares of the stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $150.67, for a total transaction of $501,881.77. Following the transaction, the director directly owned 34,054 shares in the company, valued at approximately $5,130,916.18. The trade was a 8.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Robert Bruce Atwell also recently made the following trade(s):

• On Wednesday, February 18th, Robert Bruce Atwell sold 6,396 shares of Nicolet Bankshares stock. The shares were sold at an average price of $155.47, for a total transaction of $994,386.12.

Nicolet Bankshares Price Performance

Shares of NIC stock traded up $2.39 on Monday, reaching $150.42. 218,485 shares of the company were exchanged, compared to its average volume of 205,789. Nicolet Bankshares Inc. has a 1 year low of $97.90 and a 1 year high of $163.11. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.97 and a current ratio of 0.97. The business has a 50-day moving average price of $142.86 and a 200 day moving average price of $133.99. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 15.35 and a beta of 0.77.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last issued its quarterly earnings results on Tuesday, January 20th. The company reported $2.73 earnings per share for the quarter, beating analysts' consensus estimates of $2.55 by $0.18. Nicolet Bankshares had a net margin of 26.98% and a return on equity of 12.49%. The firm had revenue of $103.99 million for the quarter, compared to analyst estimates of $79.67 million. Equities research analysts forecast that Nicolet Bankshares Inc. will post 8.18 earnings per share for the current fiscal year.

Nicolet Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be paid a $0.32 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.9%. Nicolet Bankshares's payout ratio is currently 13.06%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NIC. Piper Sandler raised Nicolet Bankshares from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $148.00 to $185.00 in a research note on Thursday, February 19th. Zacks Research upgraded shares of Nicolet Bankshares from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, December 30th. Weiss Ratings reiterated a "buy (b)" rating on shares of Nicolet Bankshares in a report on Thursday, January 22nd. Maxim Group raised their target price on shares of Nicolet Bankshares from $161.00 to $173.00 and gave the stock a "buy" rating in a research note on Thursday, January 22nd. Finally, Hovde Group restated an "outperform" rating and set a $190.00 target price on shares of Nicolet Bankshares in a report on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. Based on data from MarketBeat, Nicolet Bankshares presently has an average rating of "Buy" and a consensus target price of $179.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its position in Nicolet Bankshares by 3,940.0% during the second 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 last quarter. Jones Financial Companies Lllp purchased a new position in Nicolet Bankshares during the third quarter worth about $43,000. Meeder Asset Management Inc. acquired a new position in Nicolet Bankshares in the 4th quarter valued at about $48,000. Clearstead Advisors LLC grew its stake in shares of Nicolet Bankshares by 192.9% in the 4th quarter. Clearstead Advisors LLC now owns 451 shares of the company's stock valued at $55,000 after buying an additional 297 shares during the period. Finally, Parkside Financial Bank & Trust grew its stake in shares of Nicolet Bankshares by 45.1% in the 3rd quarter. Parkside Financial Bank & Trust now owns 589 shares of the company's stock valued at $79,000 after buying an additional 183 shares during the period. Institutional investors and hedge funds own 43.06% of the company's stock.

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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