Nicolet Bankshares Inc. (NYSE:NIC) Short Interest Down 24.8% in July

Key Points

• The short interest for Nicolet Bankshares Inc. decreased by 24.8% in July, totaling 259,400 shares, reflecting a short-interest ratio of 3.0 days based on an average daily volume of 85,400 shares.
• Equities analysts have mixed views, with Piper Sandler maintaining a "neutral" rating while Maxim Group raised their price target to $161.00 and rated the stock as a "buy."
• Nicolet Bankshares recently announced a quarterly dividend of $0.32 per share, resulting in a dividend yield of 1.0%, with a payout ratio of 14.70%.

Nicolet Bankshares Inc. (NYSE:NIC - Get Free Report) saw a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 259,400 shares, adropof24.8% from the July 15th total of 345,000 shares. Currently,2.0% of the shares of the company are short sold. Based on an average daily volume of 85,400 shares, the short-interest ratio is presently 3.0 days. Based on an average daily volume of 85,400 shares, the short-interest ratio is presently 3.0 days. Currently,2.0% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Piper Sandler reaffirmed a "neutral" rating and issued a $140.00 price objective (up from $122.50) on shares of Nicolet Bankshares in a report on Wednesday, July 16th. Maxim Group boosted their price target on Nicolet Bankshares from $131.00 to $161.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Wall Street Zen raised Nicolet Bankshares from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Finally, Keefe, Bruyette & Woods boosted their price target on Nicolet Bankshares from $118.00 to $135.00 and gave the stock a "market perform" rating in a report on Thursday, July 17th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $145.33.

Nicolet Bankshares Trading Up 0.1%

NYSE NIC opened at $130.0720 on Thursday. The business's 50-day moving average price is $128.10 and its two-hundred day moving average price is $119.87. Nicolet Bankshares has a 12 month low of $90.07 and a 12 month high of $141.92. The firm has a market capitalization of $1.93 billion, a PE ratio of 14.93 and a beta of 0.77. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.11.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The company reported $2.35 EPS for the quarter, beating analysts' consensus estimates of $2.14 by $0.21. Nicolet Bankshares had a return on equity of 11.48% and a net margin of 25.12%.The firm had revenue of $95.74 million for the quarter, compared to analyst estimates of $72.89 million. On average, analysts expect that Nicolet Bankshares will post 8.18 EPS for the current year.

Nicolet Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.32 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.28 annualized dividend and a dividend yield of 1.0%. Nicolet Bankshares's dividend payout ratio is presently 14.70%.

Insider Buying and Selling

In other news, Director Robert Bruce Atwell sold 6,904 shares of the stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $139.47, for a total transaction of $962,900.88. Following the transaction, the director owned 34,220 shares in the company, valued at approximately $4,772,663.40. This trade represents a 16.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Eric James Witczak sold 5,000 shares of Nicolet Bankshares stock in a transaction on Friday, July 18th. The shares were sold at an average price of $139.77, for a total value of $698,850.00. Following the completion of the transaction, the executive vice president directly owned 28,901 shares of the company's stock, valued at $4,039,492.77. This represents a 14.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,238 shares of company stock worth $2,427,488. 16.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nicolet Bankshares

Several institutional investors and hedge funds have recently made changes to their positions in NIC. First Trust Advisors LP boosted its position in shares of Nicolet Bankshares by 50.6% during the 2nd quarter. First Trust Advisors LP now owns 519,013 shares of the company's stock valued at $64,088,000 after purchasing an additional 174,361 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Nicolet Bankshares by 485.7% during the 2nd quarter. American Century Companies Inc. now owns 184,281 shares of the company's stock valued at $22,755,000 after purchasing an additional 152,817 shares in the last quarter. Boston Partners bought a new stake in shares of Nicolet Bankshares during the 1st quarter valued at about $15,303,000. Nicolet Bankshares Inc. boosted its position in shares of Nicolet Bankshares by 5.5% during the 1st quarter. Nicolet Bankshares Inc. now owns 888,335 shares of the company's stock valued at $96,793,000 after purchasing an additional 45,950 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of Nicolet Bankshares during the 1st quarter valued at about $3,754,000. Institutional investors own 43.06% of the company's stock.

About Nicolet Bankshares

Nicolet Bankshares, Inc operates as the bank holding company for Nicolet National Bank that provides banking products and services for businesses and individuals in Wisconsin and Michigan. The company accepts checking, savings, and money market accounts; various certificates of deposit; and individual retirement accounts.

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