Nicolet Bankshares (NYSE:NIC) Posts Quarterly Earnings Results, Beats Expectations By $0.21 EPS

Nicolet Bankshares (NYSE:NIC - Get Free Report) announced its earnings results on Tuesday. The company reported $2.35 earnings per share for the quarter, topping analysts' consensus estimates of $2.14 by $0.21, Zacks reports. Nicolet Bankshares had a net margin of 24.31% and a return on equity of 11.08%.

Nicolet Bankshares Price Performance

Shares of NYSE NIC traded down $4.06 during mid-day trading on Tuesday, reaching $126.40. 213,166 shares of the company traded hands, compared to its average volume of 62,611. The stock has a fifty day simple moving average of $122.71 and a 200-day simple moving average of $115.33. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.97 and a quick ratio of 0.97. Nicolet Bankshares has a fifty-two week low of $85.68 and a fifty-two week high of $133.00. The firm has a market cap of $1.91 billion, a PE ratio of 15.25 and a beta of 0.76.

Nicolet Bankshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Monday, June 2nd. This is a positive change from Nicolet Bankshares's previous quarterly dividend of $0.28. Nicolet Bankshares's payout ratio is currently 15.44%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on NIC shares. Piper Sandler dropped their price target on Nicolet Bankshares from $120.00 to $118.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Keefe, Bruyette & Woods upped their price target on Nicolet Bankshares from $115.00 to $118.00 and gave the stock a "market perform" rating in a report on Thursday, April 17th.

Insider Transactions at Nicolet Bankshares

In other news, Director Robert Bruce Atwell sold 6,192 shares of the stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $115.85, for a total value of $717,343.20. Following the sale, the director directly owned 33,816 shares of the company's stock, valued at approximately $3,917,583.60. This represents a 15.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Susan L. Merkatoris sold 3,700 shares of the business'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 transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 16,226 shares of company stock valued at $1,884,826 in the last quarter. 16.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nicolet Bankshares

Several hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its holdings in shares of Nicolet Bankshares by 150.8% during the first quarter. Royal Bank of Canada now owns 13,987 shares of the company's stock worth $1,524,000 after buying an additional 8,410 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Nicolet Bankshares by 15.2% during the 1st quarter. AQR Capital Management LLC now owns 11,819 shares of the company's stock worth $1,288,000 after purchasing an additional 1,557 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Nicolet Bankshares by 6.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,134 shares of the company's stock valued at $886,000 after acquiring an additional 517 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Nicolet Bankshares by 6.9% in the 1st 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 acquiring an additional 1,922 shares during the last quarter. 43.06% of the stock is owned by institutional investors.

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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