Nicolet Bankshares (NYSE:NIC) Reaches New 12-Month High - Here's Why

Nicolet Bankshares, Inc. (NYSE:NIC - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $125.05 and last traded at $123.50, with a volume of 14567 shares traded. The stock had previously closed at $120.04.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NIC. Piper Sandler lowered their target price 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 increased their price objective on Nicolet Bankshares from $115.00 to $118.00 and gave the company a "market perform" rating in a research note on Thursday, April 17th. Finally, Maxim Group lifted their price objective on Nicolet Bankshares from $124.00 to $131.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd.

Nicolet Bankshares Price Performance

The company's 50 day simple moving average is $112.64 and its 200 day simple moving average is $111.57. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $1.85 billion, a PE ratio of 15.30 and a beta of 0.76.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $2.10 EPS for the quarter, beating analysts' consensus estimates of $1.96 by $0.14. Nicolet Bankshares had a return on equity of 10.95% and a net margin of 23.83%. The business had revenue of $89.43 million during the quarter, compared to the consensus estimate of $70.08 million. On average, equities analysts anticipate that Nicolet Bankshares, Inc. will post 8.18 earnings per share for the current year.

Nicolet Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date was Monday, March 10th. Nicolet Bankshares's dividend payout ratio is currently 13.51%.

Insider Buying and Selling

In related 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 transaction, the director now directly owns 33,816 shares of the company's stock, valued at approximately $3,917,583.60. This trade represents a 15.48% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Susan L. Merkatoris sold 3,700 shares of Nicolet Bankshares stock in a transaction 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 transaction, the director now owns 78,218 shares in the company, valued at $8,492,910.44. The trade was a 4.52% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,294 shares of company stock valued at $1,518,618. Insiders own 16.40% of the company's stock.

Institutional Trading of Nicolet Bankshares

A number of institutional investors have recently modified their holdings of the company. Sterling Capital Management LLC lifted its position in Nicolet Bankshares by 748.7% during the fourth quarter. Sterling Capital Management LLC now owns 331 shares of the company's stock valued at $35,000 after buying an additional 292 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Nicolet Bankshares in the 4th quarter valued at $61,000. KBC Group NV acquired a new position in shares of Nicolet Bankshares during the 1st quarter valued at $95,000. New York State Teachers Retirement System purchased a new stake in Nicolet Bankshares during the 4th quarter worth $128,000. Finally, Summit Investment Advisors Inc. increased its holdings in Nicolet Bankshares by 11.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,410 shares of the company's stock valued at $148,000 after purchasing an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 43.06% of the company's stock.

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.