Nicolet Bankshares (NYSE:NIC) Sees Large Volume Increase - Here's What Happened

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%.

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.

Analyst Ratings Changes

NIC has been the topic of a number of research analyst reports. Piper Sandler restated a "neutral" rating and set a $140.00 price objective (up previously from $122.50) on shares of Nicolet Bankshares in a research report on Wednesday, July 16th. Maxim Group increased their price objective on shares of Nicolet Bankshares from $131.00 to $161.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Keefe, Bruyette & Woods increased their price objective on shares of Nicolet Bankshares from $118.00 to $135.00 and gave the stock a "market perform" rating in a research note on Thursday, July 17th. Finally, Wall Street Zen raised shares of Nicolet Bankshares from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Nicolet Bankshares has an average rating of "Hold" and an average price target of $145.33.

Nicolet Bankshares Stock Performance

The company has a market capitalization of $2.00 billion, a P/E ratio of 15.43 and a beta of 0.77. The business's fifty day simple moving average is $132.71 and its 200-day simple moving average is $121.82. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.96 and a current ratio of 0.96.

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

Nicolet Bankshares Announces Dividend

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

Insider Transactions at Nicolet Bankshares

In related news, EVP Eric James Witczak sold 5,000 shares of Nicolet Bankshares 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 completion of the transaction, the executive vice president directly owned 28,901 shares of the company's stock, valued at approximately $4,039,492.77. The trade was a 14.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Bruce Atwell sold 6,904 shares of the business's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $139.47, for a total transaction of $962,900.88. Following the completion of the sale, the director directly owned 34,220 shares of the company's stock, valued at approximately $4,772,663.40. This trade represents a 16.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,056 shares of company stock valued at $2,096,949. 16.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NIC. First Trust Advisors LP raised its stake in shares of 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 acquiring an additional 174,361 shares in the last quarter. American Century Companies Inc. raised its stake in shares of 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 acquiring an additional 152,817 shares in the last quarter. Boston Partners acquired a new position in Nicolet Bankshares during the 1st quarter valued at approximately $15,303,000. Nicolet Bankshares Inc. increased its stake 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 in the last quarter. Finally, Nuveen LLC acquired a new position in Nicolet Bankshares during the 1st quarter valued at approximately $3,754,000. 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.

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