Nicolet Bankshares Inc. (NYSE:NIC) Announces Dividend Increase - $0.36 Per Share

Key Points

• Nicolet Bankshares raised its quarterly dividend to $0.36 per share (a 12.5% increase from $0.32), payable June 15 to holders of record June 1 and implying about a 0.9% yield.
• The dividend appears well-covered, with a reported payout ratio of 14.1% and analysts forecasting roughly $14.20 in EPS next year, suggesting continued dividend sustainability.
• The company reported Q1 EPS of $2.75, missing estimates by $0.23 while revenue beat consensus, and the stock carries an average analyst rating of "Moderate Buy" with a $179.50 average price target.

Nicolet Bankshares Inc. (NYSE:NIC - Get Free Report) announced a quarterly dividend on Tuesday, April 21st. Shareholders of record on Monday, June 1st will be paid a dividend of 0.36 per share on Monday, June 15th. This represents a c) annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Monday, June 1st. This is a 12.5% increase from Nicolet Bankshares's previous quarterly dividend of $0.32.

Nicolet Bankshares has a payout ratio of 14.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Nicolet Bankshares to earn $14.20 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 9.0%.

Nicolet Bankshares Stock Down 0.8%

Shares of NYSE NIC opened at $154.50 on Wednesday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $3.30 billion, a PE ratio of 15.76 and a beta of 0.74. The stock's fifty day simple moving average is $151.90 and its two-hundred day simple moving average is $137.45. Nicolet Bankshares has a 12-month low of $111.21 and a 12-month high of $163.11.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last announced its earnings results on Tuesday, April 21st. The company reported $2.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.23). The company had revenue of $134.85 million for the quarter, compared to the consensus estimate of $129.74 million. Nicolet Bankshares had a net margin of 26.98% and a return on equity of 12.49%. As a group, analysts expect that Nicolet Bankshares will post 12.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NIC. Piper Sandler raised Nicolet Bankshares from a "neutral" rating to an "overweight" rating and increased their target price for the company from $148.00 to $185.00 in a research report on Thursday, February 19th. Zacks Research cut Nicolet Bankshares from a "strong-buy" rating to a "hold" rating in a research report on Monday. Maxim Group increased their target price on Nicolet Bankshares from $161.00 to $173.00 and gave the company a "buy" rating in a research report on Thursday, January 22nd. Keefe, Bruyette & Woods raised their price objective on Nicolet Bankshares from $165.00 to $170.00 and gave the stock an "outperform" rating in a research report on Thursday, January 22nd. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Nicolet Bankshares in a research report on Thursday, January 22nd. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Nicolet Bankshares has an average rating of "Moderate Buy" and an average price target of $179.50.

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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