Nicolet Bankshares (NYSE:NIC) Sets New 12-Month High on Earnings Beat

Nicolet Bankshares Inc. (NYSE:NIC - Get Free Report) shares hit a new 52-week high on Wednesday following a stronger than expected earnings report. The company traded as high as $134.24 and last traded at $134.66, with a volume of 21283 shares. The stock had previously closed at $126.17.

The company reported $2.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.14 by $0.21. Nicolet Bankshares had a return on equity of 11.53% and a net margin of 25.12%. The company had revenue of $95.74 million for the quarter, compared to the consensus estimate of $72.89 million.

Nicolet Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date was Monday, June 2nd. This is a boost from Nicolet Bankshares's previous quarterly dividend of $0.28. Nicolet Bankshares's dividend payout ratio is currently 14.70%.

Wall Street Analysts Forecast Growth

NIC has been the topic of a number of recent research reports. Piper Sandler reaffirmed a "neutral" rating and set a $140.00 price objective (up from $122.50) on shares of Nicolet Bankshares in a research note on Wednesday. Maxim Group increased their target price on shares of Nicolet Bankshares from $131.00 to $161.00 and gave the stock a "buy" rating in a report on Thursday. Keefe, Bruyette & Woods increased their target price on shares of Nicolet Bankshares from $118.00 to $135.00 and gave the stock a "market perform" rating in a report on Thursday. Finally, Wall Street Zen upgraded shares of Nicolet Bankshares from a "sell" rating to a "hold" rating in a report on Friday.

Insider Buying and Selling

In other Nicolet Bankshares news, Director Susan L. Merkatoris sold 3,700 shares of Nicolet Bankshares stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $108.58, for a total value of $401,746.00. Following the completion of the sale, the director owned 78,218 shares of the company's stock, valued at approximately $8,492,910.44. The trade was a 4.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert Bruce Atwell sold 3,126 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $118.30, for a total transaction of $369,805.80. Following the sale, the director directly owned 34,220 shares of the company's stock, valued at approximately $4,048,226. The trade was a 8.37% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,226 shares of company stock valued at $1,884,826. 16.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NIC. Charles Schwab Investment Management Inc. lifted its stake in Nicolet Bankshares by 9.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 127,925 shares of the company's stock worth $13,421,000 after purchasing an additional 11,516 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Nicolet Bankshares in the 4th quarter worth $778,000. Swiss National Bank lifted its stake in Nicolet Bankshares by 1.5% in the 4th quarter. Swiss National Bank now owns 26,600 shares of the company's stock worth $2,791,000 after purchasing an additional 400 shares in the last quarter. Thrivent Financial for Lutherans purchased a new stake in Nicolet Bankshares in the 4th quarter worth $533,000. Finally, Teacher Retirement System of Texas lifted its stake in Nicolet Bankshares by 284.8% in the 4th quarter. Teacher Retirement System of Texas now owns 22,035 shares of the company's stock worth $2,312,000 after purchasing an additional 16,308 shares in the last quarter. Hedge funds and other institutional investors own 43.06% of the company's stock.

Nicolet Bankshares Stock Performance

The firm has a market cap of $2.11 billion, a PE ratio of 16.19 and a beta of 0.76. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.13. The firm's 50 day simple moving average is $123.94 and its 200 day simple moving average is $116.04.

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.