Nicolet Bankshares (NYSE:NIC) Reaches New 52-Week High - Here's What Happened

Key Points

• Nicolet Bankshares reached a new 52-week high of $173.66, with shares supported by better-than-expected quarterly results. The company reported EPS of $2.99 versus the $2.85 consensus and revenue of $177.75 million versus $171.93 million expected.
• Analyst sentiment is broadly positive: five analysts rate the stock a Buy and two rate it a Hold, resulting in a “Moderate Buy” consensus and an average price target of $183.00.
• The company announced a quarterly dividend of $0.36 per share, equivalent to $1.44 annually and a 0.8% yield. A director also sold 2,662 shares at an average price of $170.24.

Shares of Nicolet Bankshares Inc. (NYSE:NIC - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $173.66 and last traded at $173.3150, with a volume of 58792 shares traded. The stock had previously closed at $173.16.

Analyst Ratings Changes

A number of research firms have recently commented on NIC. Zacks Research raised shares of Nicolet Bankshares from a "strong sell" rating to a "hold" rating in a report on Monday, June 22nd. Keefe, Bruyette & Woods upped 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. Raymond James Financial began coverage on shares of Nicolet Bankshares in a research note on Tuesday, June 23rd. They set a "market perform" rating on the stock. Piper Sandler set a $194.00 price objective on Nicolet Bankshares in a research report on Wednesday, July 22nd. Finally, Hovde Group cut their price target on Nicolet Bankshares from $190.00 to $180.00 and set an "outperform" rating on the stock in a research note on Thursday, April 23rd. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Nicolet Bankshares presently has an average rating of "Moderate Buy" and a consensus target price of $183.00.

Nicolet Bankshares Stock Performance

The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 19.69 and a beta of 0.65. The company has a 50 day moving average price of $154.63 and a 200 day moving average price of $149.92. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.90 and a current ratio of 0.90.

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

Nicolet Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders 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 annualized dividend and a dividend yield of 0.8%. Nicolet Bankshares's dividend payout ratio is presently 16.35%.

Insider Buying and Selling at Nicolet Bankshares

In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 2,662 shares of the company's stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $170.24, for a total value of $453,178.88. Following the completion of the sale, the director directly owned 34,483 shares of the company's stock, valued at approximately $5,870,385.92. This represents a 7.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 7.20% of the stock is owned by insiders.

Institutional Trading of Nicolet Bankshares

Institutional investors and hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its stake in shares of Nicolet Bankshares by 3,940.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company's stock worth $25,000 after purchasing an additional 197 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Nicolet Bankshares in the fourth quarter valued at $48,000. Clearstead Advisors LLC lifted its position in shares of Nicolet Bankshares by 192.9% during the 4th quarter. Clearstead Advisors LLC now owns 451 shares of the company's stock valued at $55,000 after buying an additional 297 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Nicolet Bankshares by 151.9% during the 1st quarter. Parallel Advisors LLC now owns 607 shares of the company's stock worth $90,000 after acquiring an additional 366 shares during the period. Finally, UMB Bank n.a. bought a new stake in Nicolet Bankshares in the 4th quarter valued at about $102,000. 43.06% of the stock is owned by hedge funds and other institutional investors.

Nicolet Bankshares Company Profile

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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