Nicolet Bankshares (NYSE:NIC) Sees Strong Trading Volume - Time to Buy?

Key Points

• Nicolet Bankshares experienced a trading volume of 49,139 shares, which is an 11% decrease from the prior session of 55,131 shares, with the stock trading at $135.48.
• Analyst ratings have been mixed, with Piper Sandler maintaining a "neutral" rating and a price target of $140, while Maxim Group upgraded its target to $161 with a "buy" rating.
• The company announced a quarterly dividend of $0.32 per share to be paid on September 15th, reflecting a 1.0% dividend yield and a payout ratio of 14.70%.

Shares of Nicolet Bankshares Inc. (NYSE:NIC - Get Free Report) saw strong trading volume on Thursday . 49,139 shares traded hands during trading, a decline of 11% from the previous session's volume of 55,131 shares.The stock last traded at $135.48 and had previously closed at $135.42.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Nicolet Bankshares from $118.00 to $135.00 and gave the stock a "market perform" rating in a research report on Thursday, July 17th. Piper Sandler reissued a "neutral" rating and issued a $140.00 price target (up previously from $122.50) on shares of Nicolet Bankshares in a report on Wednesday, July 16th. Maxim Group boosted their price target on shares of Nicolet Bankshares from $131.00 to $161.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Finally, Wall Street Zen raised shares of Nicolet Bankshares from a "sell" rating to a "hold" rating in a report on Friday, July 18th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $145.33.

Nicolet Bankshares Price Performance

The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.96 and a current ratio of 0.96. The company's 50 day moving average price is $132.94 and its 200 day moving average price is $122.21. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 15.20 and a beta of 0.77.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last issued its earnings results on Tuesday, July 15th. The company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.14 by $0.21. Nicolet Bankshares had a net margin of 25.12% and a return on equity of 11.48%. The company had revenue of $95.74 million for the quarter, compared to the consensus estimate of $72.89 million. On average, equities research analysts predict that Nicolet Bankshares Inc. will post 8.18 earnings per share for the current fiscal year.

Nicolet Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Tuesday, September 2nd. Nicolet Bankshares's payout ratio is currently 14.70%.

Insider Activity

In related news, EVP Eric James Witczak sold 5,000 shares of the company's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $139.77, for a total transaction of $698,850.00. Following the transaction, the executive vice president owned 28,901 shares in the company, valued at $4,039,492.77. This represents a 14.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Bruce Atwell sold 6,904 shares of the company's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $139.47, for a total transaction of $962,900.88. Following the transaction, the director owned 34,220 shares in the company, valued at approximately $4,772,663.40. This trade represents a 16.79% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,056 shares of company stock worth $2,096,949. 14.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NIC. First Trust Advisors LP lifted its position in Nicolet Bankshares by 50.6% during the 2nd quarter. First Trust Advisors LP now owns 519,013 shares of the company's stock worth $64,088,000 after buying an additional 174,361 shares in the last quarter. American Century Companies Inc. lifted its position in Nicolet Bankshares by 485.7% during the 2nd quarter. American Century Companies Inc. now owns 184,281 shares of the company's stock worth $22,755,000 after buying an additional 152,817 shares in the last quarter. Boston Partners acquired a new position in Nicolet Bankshares during the 1st quarter worth about $15,303,000. Nicolet Bankshares Inc. lifted its position in Nicolet Bankshares by 5.5% during the 1st quarter. Nicolet Bankshares Inc. now owns 888,335 shares of the company's stock valued at $96,793,000 after purchasing an additional 45,950 shares during the period. Finally, Nuveen LLC acquired a new position in Nicolet Bankshares during the 1st quarter valued at about $3,754,000. Institutional investors and hedge funds own 43.06% of the company's stock.

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.