Nicolet Bankshares (NYSE:NIC) Sees Strong Trading Volume - Here's What Happened

Nicolet Bankshares Inc. (NYSE:NIC - Get Free Report) shares saw strong trading volume on Monday . 188,251 shares changed hands during trading, an increase of 205% from the previous session's volume of 61,715 shares.The stock last traded at $130.76 and had previously closed at $128.44.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NIC shares. Piper Sandler dropped their price target on Nicolet Bankshares from $120.00 to $118.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Keefe, Bruyette & Woods upped their target price on shares of Nicolet Bankshares from $115.00 to $118.00 and gave the company a "market perform" rating in a research note on Thursday, April 17th.

Nicolet Bankshares Stock Down 0.0%

The firm has a 50-day simple moving average of $122.71 and a two-hundred day simple moving average of $115.33. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.13. The stock has a market cap of $1.97 billion, a P/E ratio of 15.71 and a beta of 0.76.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last released its quarterly earnings results on Tuesday, April 15th. The company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.14. The firm had revenue of $89.43 million during the quarter, compared to analyst estimates of $70.08 million. Nicolet Bankshares had a net margin of 24.31% and a return on equity of 11.08%. Equities research analysts expect that Nicolet Bankshares Inc. will post 8.18 earnings per share for the current fiscal year.

Nicolet Bankshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, June 2nd. 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 0.98%. Nicolet Bankshares's dividend payout ratio is currently 15.44%.

Insider Buying and Selling at Nicolet Bankshares

In other news, Director Robert Bruce Atwell sold 6,192 shares of the company's stock in a transaction 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 owned 33,816 shares in the company, valued at $3,917,583.60. This represents a 15.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Susan L. Merkatoris sold 3,700 shares of the company's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $108.58, for a total value of $401,746.00. Following the completion of the transaction, the director owned 78,218 shares of the company's stock, valued at $8,492,910.44. This trade represents a 4.52% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,226 shares of company stock worth $1,884,826. 16.40% of the stock is owned by insiders.

Institutional Trading of Nicolet Bankshares

Several hedge funds have recently added to or reduced their stakes in NIC. GAMMA Investing LLC grew its position in Nicolet Bankshares by 20,603.3% during the 1st quarter. GAMMA Investing LLC now owns 6,211 shares of the company's stock worth $677,000 after acquiring an additional 6,181 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Nicolet Bankshares by 51.0% in the fourth quarter. Deutsche Bank AG now owns 11,506 shares of the company's stock worth $1,207,000 after purchasing an additional 3,888 shares during the last quarter. Vest Financial LLC bought a new stake in shares of Nicolet Bankshares in the first quarter worth about $1,642,000. Barclays PLC grew its stake in shares of Nicolet Bankshares by 15.1% in the fourth quarter. Barclays PLC now owns 27,589 shares of the company's stock worth $2,894,000 after purchasing an additional 3,611 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Nicolet Bankshares in the first quarter worth about $405,000. 43.06% of the stock is owned by 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.