Nicolet Bankshares (NYSE:NIC) Announces Quarterly Earnings Results

Key Points

• Nicolet Bankshares reported earnings of $2.66 per share for the quarter, exceeding the consensus estimate of $2.34 by $0.32.
• The company announced a quarterly dividend of $0.32 per share, representing an annualized dividend of $1.28 with a yield of 1.0%.
• Recent analyst ratings for Nicolet Bankshares show an upgrade to a "hold" from a "sell" and a target price increase to $145.33.

Nicolet Bankshares (NYSE:NIC - Get Free Report) released its quarterly earnings data on Thursday. The company reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.32, Zacks reports. Nicolet Bankshares had a net margin of 25.12% and a return on equity of 11.48%.

Nicolet Bankshares Stock Performance

Shares of NYSE:NIC traded down $4.09 on Thursday, reaching $126.23. 120,842 shares of the company's stock were exchanged, compared to its average volume of 73,031. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 14.49 and a beta of 0.73. Nicolet Bankshares has a fifty-two week low of $97.90 and a fifty-two week high of $141.92. The business's 50-day moving average is $133.11 and its two-hundred day moving average is $125.75. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.11.

Nicolet Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Tuesday, September 2nd. Nicolet Bankshares's dividend payout ratio is 14.70%.

Insider Buying and Selling at Nicolet Bankshares

In related news, EVP Eric James Witczak sold 1,588 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $139.42, for a total value of $221,398.96. Following the sale, the executive vice president owned 28,901 shares of the company's stock, valued at $4,029,377.42. This trade represents a 5.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 16.40% of the company's stock.

Institutional Trading of Nicolet Bankshares

A number of large investors have recently modified their holdings of NIC. EverSource Wealth Advisors LLC increased its holdings in shares of Nicolet Bankshares by 3,940.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company's stock worth $25,000 after acquiring an additional 197 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Nicolet Bankshares in the 2nd quarter worth about $133,000. BNP Paribas Financial Markets increased its holdings in shares of Nicolet Bankshares by 63.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,273 shares of the company's stock worth $157,000 after acquiring an additional 493 shares during the period. Tower Research Capital LLC TRC grew its position in Nicolet Bankshares by 174.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,303 shares of the company's stock valued at $161,000 after buying an additional 828 shares in the last quarter. Finally, Brevan Howard Capital Management LP bought a new position in Nicolet Bankshares in the 2nd quarter valued at about $531,000. Institutional investors and hedge funds own 43.06% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on NIC shares. Wall Street Zen upgraded shares of Nicolet Bankshares from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Piper Sandler restated a "neutral" rating and issued a $140.00 target price (up from $122.50) on shares of Nicolet Bankshares in a research note on Wednesday, July 16th. Maxim Group upped their target price on shares of Nicolet Bankshares from $131.00 to $161.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Keefe, Bruyette & Woods upped their target price on shares of Nicolet Bankshares from $118.00 to $135.00 and gave the company a "market perform" rating in a research note on Thursday, July 17th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Nicolet Bankshares in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $145.33.

Nicolet Bankshares Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.