Nicolet Bankshares (NYSE:NIC) Hits New 12-Month High - Time to Buy?

Key Points

• Nicolet Bankshares reached a new 52-week high of $174.74, with the stock recently trading around $173.51. Analysts maintain a “Moderate Buy” consensus and an average price target of $183.
• The company exceeded quarterly expectations, reporting $2.99 in earnings per share versus the $2.85 consensus estimate, while revenue of $177.75 million also topped forecasts.
• Nicolet announced a quarterly dividend of $0.36, equal to an annualized yield of about 0.8%; however, insiders sold 4,219 shares worth roughly $716,000 over the past three months.

Nicolet Bankshares Inc. (NYSE:NIC - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $174.74 and last traded at $173.51, with a volume of 140545 shares changing hands. The stock had previously closed at $170.92.

Analyst Upgrades and Downgrades

NIC has been the subject of a number of analyst reports. Zacks Research upgraded Nicolet Bankshares from a "strong sell" rating to a "hold" rating in a research note on Monday, June 22nd. Raymond James Financial began coverage on shares of Nicolet Bankshares in a report on Tuesday, June 23rd. They issued a "market perform" rating for the company. Weiss Ratings lowered shares of Nicolet Bankshares from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday, May 18th. Piper Sandler set a $194.00 price target on shares of Nicolet Bankshares in a report on Wednesday, July 22nd. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Nicolet Bankshares from $175.00 to $185.00 and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Nicolet Bankshares currently has a consensus rating of "Moderate Buy" and an average price target of $183.00.

Nicolet Bankshares Stock Up 1.5%

The company has a 50-day moving average of $156.97 and a 200-day moving average of $151.20. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $3.69 billion, a price-to-earnings ratio of 19.69 and a beta of 0.65.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $2.99 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.14. Nicolet Bankshares had a return on equity of 11.36% and a net margin of 21.77%.The business had revenue of $177.75 million during the quarter, compared to the consensus estimate of $171.93 million. On average, equities analysts predict that Nicolet Bankshares Inc. will post 12.3 earnings per share for the current fiscal year.

Nicolet Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.36 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.44 dividend on an annualized basis and a yield of 0.8%. Nicolet Bankshares's dividend payout ratio (DPR) is 16.35%.

Insider Activity at Nicolet Bankshares

In other Nicolet Bankshares news, EVP Eric James Witczak sold 342 shares of the company's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $171.96, for a total transaction of $58,810.32. Following the transaction, the executive vice president owned 33,288 shares in the company, valued at approximately $5,724,204.48. This represents a 1.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert Bruce Atwell sold 2,662 shares of the business's stock in a transaction on Friday, July 24th. The shares were sold at an average price of $170.24, for a total transaction of $453,178.88. Following the sale, the director directly owned 34,483 shares in the company, valued at $5,870,385.92. This trade represents a 7.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 4,219 shares of company stock worth $715,976. 7.20% of the stock is owned by insiders.

Institutional Trading of Nicolet Bankshares

Several large investors have recently added to or reduced their stakes in NIC. Merit Financial Group LLC boosted its position in Nicolet Bankshares by 31.2% in the 4th quarter. Merit Financial Group LLC now owns 49,314 shares of the company's stock worth $5,982,000 after purchasing an additional 11,729 shares in the last quarter. UBS Group AG increased its holdings in shares of Nicolet Bankshares by 61.1% during the 4th quarter. UBS Group AG now owns 49,213 shares of the company's stock valued at $5,970,000 after purchasing an additional 18,657 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of Nicolet Bankshares in the 4th quarter valued at $5,513,000. AlphaQuest LLC lifted its stake in shares of Nicolet Bankshares by 804.7% in the 4th quarter. AlphaQuest LLC now owns 16,782 shares of the company's stock valued at $2,036,000 after purchasing an additional 14,927 shares during the period. Finally, Tudor Investment Corp ET AL purchased a new stake in Nicolet Bankshares during the third quarter worth $3,850,000. Hedge funds and other institutional investors own 43.06% of the company's stock.

About Nicolet Bankshares

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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