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

Nicolet Bankshares, Inc. (NYSE:NIC - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 60,114 shares changed hands during 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.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Keefe, Bruyette & Woods lifted their target price on Nicolet Bankshares from $115.00 to $118.00 and gave the company a "market perform" rating in a research report on Thursday, April 17th. Piper Sandler lowered their target price on shares of Nicolet Bankshares from $120.00 to $118.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th.

Nicolet Bankshares Stock Performance

The firm has a market cap of $1.80 billion, a PE ratio of 14.85 and a beta of 0.76. The business has a 50 day simple moving average of $116.13 and a two-hundred day simple moving average of $112.99. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.14.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.14. Nicolet Bankshares had a net margin of 23.83% and a return on equity of 10.95%. The firm had revenue of $89.43 million during the quarter, compared to analysts' expectations of $70.08 million. As a group, equities research analysts forecast that Nicolet Bankshares, Inc. will post 8.18 earnings per share for the current fiscal 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 paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Monday, June 2nd. This is an increase from Nicolet Bankshares's previous quarterly dividend of $0.28. Nicolet Bankshares's payout ratio is presently 15.44%.

Insider Buying and Selling at Nicolet Bankshares

In related news, Director Susan L. Merkatoris sold 3,700 shares of the business's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $108.58, for a total transaction of $401,746.00. Following the transaction, the director now directly owns 78,218 shares in the company, valued at approximately $8,492,910.44. The trade was a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert Bruce Atwell sold 6,192 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $115.85, for a total value of $717,343.20. Following the completion of the sale, the director now directly owns 33,816 shares of the company's stock, valued at approximately $3,917,583.60. This represents a 15.48% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,226 shares of company stock valued at $1,884,826. Corporate insiders own 16.40% of the company's stock.

Institutional Investors Weigh In On Nicolet Bankshares

Several hedge funds and other institutional investors have recently bought and sold shares of NIC. Sterling Capital Management LLC grew its stake in shares of Nicolet Bankshares by 748.7% in the 4th quarter. Sterling Capital Management LLC now owns 331 shares of the company's stock valued at $35,000 after buying an additional 292 shares during the period. Point72 Asset Management L.P. purchased a new position in Nicolet Bankshares in the fourth quarter worth approximately $61,000. KBC Group NV purchased a new position in Nicolet Bankshares in the first quarter worth approximately $95,000. New York State Teachers Retirement System acquired a new stake in Nicolet Bankshares during the fourth quarter worth $128,000. Finally, Summit Investment Advisors Inc. raised its position in Nicolet Bankshares by 11.0% in the fourth 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 during the period. 43.06% of the stock is currently owned by institutional investors and hedge funds.

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.