Nicolet Bankshares Inc. (NYSE:NIC - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $134.24 and last traded at $134.66, with a volume of 21283 shares changing hands. The stock had previously closed at $126.17.
The company reported $2.35 earnings per share for the quarter, topping analysts' consensus estimates of $2.14 by $0.21. The firm had revenue of $95.74 million for the quarter, compared to the consensus estimate of $72.89 million. Nicolet Bankshares had a net margin of 24.31% and a return on equity of 11.08%.
Nicolet Bankshares Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were paid a $0.32 dividend. This is a boost from Nicolet Bankshares's previous quarterly dividend of $0.28. The ex-dividend date was Monday, June 2nd. This represents a $1.28 dividend on an annualized basis and a yield of 0.95%. Nicolet Bankshares's payout ratio is presently 15.44%.
Analyst Ratings Changes
Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods upped their target price on shares of Nicolet Bankshares from $115.00 to $118.00 and gave the company a "market perform" rating in a research note on Thursday, April 17th. Piper Sandler increased their price objective on shares of Nicolet Bankshares from $122.50 to $140.00 and gave the stock a "neutral" rating in a research note on Wednesday.
Read Our Latest Stock Report on Nicolet Bankshares
Insiders Place Their Bets
In related news, Director Susan L. Merkatoris sold 3,700 shares of the firm's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $108.58, for a total value of $401,746.00. Following the completion of the sale, the director directly owned 78,218 shares in the company, valued at $8,492,910.44. This trade represents a 4.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Bruce Atwell sold 3,126 shares of Nicolet Bankshares stock in a transaction on Monday, June 9th. The stock was sold at an average price of $118.30, for a total value of $369,805.80. Following the sale, the director owned 34,220 shares of the company's stock, valued at approximately $4,048,226. This trade represents a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,226 shares of company stock valued at $1,884,826. 14.20% of the stock is owned by corporate insiders.
Institutional Trading of Nicolet Bankshares
Several institutional investors and hedge funds have recently made changes to their positions in NIC. Ballentine Partners LLC purchased a new position in shares of Nicolet Bankshares during the second quarter valued at $231,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Nicolet Bankshares by 6.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 29,778 shares of the company's stock valued at $3,245,000 after buying an additional 1,922 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Nicolet Bankshares by 6.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,134 shares of the company's stock valued at $886,000 after buying an additional 517 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of Nicolet Bankshares during the first quarter valued at $1,434,000. Finally, AQR Capital Management LLC increased its stake in shares of Nicolet Bankshares by 15.2% during the first quarter. AQR Capital Management LLC now owns 11,819 shares of the company's stock valued at $1,288,000 after buying an additional 1,557 shares during the period. 43.06% of the stock is currently owned by institutional investors.
Nicolet Bankshares Stock Performance
The stock has a market cap of $2.03 billion, a PE ratio of 16.24 and a beta of 0.76. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average price of $122.83 and a 200 day moving average price of $115.41.
Nicolet Bankshares Company Profile
(
Get Free Report)
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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