Nicolet Bankshares (NYSE:NIC) Sees Large Volume Increase - Still a Buy?

Shares of Nicolet Bankshares, Inc. (NYSE:NIC - Get Free Report) saw strong trading volume on Tuesday . 60,114 shares were traded during mid-day trading, an increase of 6% from the previous session's volume of 56,516 shares.The stock last traded at $119.45 and had previously closed at $118.02.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Nicolet Bankshares from $115.00 to $118.00 and gave the stock a "market perform" rating in a research note on Thursday, April 17th. Piper Sandler decreased their price objective on shares of Nicolet Bankshares from $120.00 to $118.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th.

Nicolet Bankshares Stock Down 1.7%

The company's 50 day moving average price is $117.13 and its two-hundred day moving average price is $113.11. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.76 billion, a P/E ratio of 14.55 and a beta of 0.76.

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

Nicolet Bankshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be issued a $0.32 dividend. This is a positive change from Nicolet Bankshares's previous quarterly dividend of $0.28. This represents a $1.28 annualized dividend and a yield of 1.10%. The ex-dividend date is Monday, June 2nd. Nicolet Bankshares's payout ratio is currently 15.44%.

Insiders Place Their Bets

In other news, Director Susan L. Merkatoris sold 3,700 shares of the business's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $108.58, for a total transaction of $401,746.00. Following the sale, the director now directly owns 78,218 shares of the company's stock, valued at $8,492,910.44. The trade was a 4.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Bruce Atwell sold 3,126 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $118.30, for a total transaction of $369,805.80. Following the sale, the director now directly owns 34,220 shares in the company, valued at $4,048,226. This trade represents a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,226 shares of company stock valued at $1,884,826. 16.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nicolet Bankshares

Large investors have recently made changes to their positions in the stock. Barclays PLC lifted its position in Nicolet Bankshares by 170.7% during the third quarter. Barclays PLC now owns 23,978 shares of the company's stock valued at $2,291,000 after purchasing an additional 15,121 shares during the period. Deutsche Bank AG lifted its position in Nicolet Bankshares by 51.0% during the fourth quarter. Deutsche Bank AG now owns 11,506 shares of the company's stock valued at $1,207,000 after purchasing an additional 3,888 shares during the period. Vest Financial LLC acquired a new position in Nicolet Bankshares during the first quarter valued at $1,642,000. Jackson Creek Investment Advisors LLC acquired a new position in Nicolet Bankshares during the fourth quarter valued at $1,586,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Nicolet Bankshares by 24.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,856 shares of the company's stock valued at $2,922,000 after purchasing an additional 5,492 shares during the period. 43.06% of the stock is owned by hedge funds and other 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.