Nicolet Bankshares (NYSE:NIC) Sets New 1-Year High - Here's Why

Nicolet Bankshares Inc. (NYSE:NIC - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $130.66 and last traded at $130.22, with a volume of 115405 shares trading hands. The stock had previously closed at $127.67.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NIC. Piper Sandler cut their price target 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. Keefe, Bruyette & Woods boosted their target price on shares of Nicolet Bankshares from $115.00 to $118.00 and gave the stock a "market perform" rating in a research report on Thursday, April 17th.

Nicolet Bankshares Trading Up 1.1%

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 50-day simple moving average of $120.78 and a 200 day simple moving average of $113.96. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 15.87 and a beta of 0.76.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations of $70.08 million. Nicolet Bankshares had a return on equity of 11.08% and a net margin of 24.31%. As a group, equities research analysts predict that Nicolet Bankshares Inc. will post 8.18 EPS for the current fiscal year.

Nicolet Bankshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were issued a $0.32 dividend. This is an increase from Nicolet Bankshares's previous quarterly dividend of $0.28. This represents a $1.28 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Monday, June 2nd. Nicolet Bankshares's dividend payout ratio is 15.44%.

Insider Buying and Selling at Nicolet Bankshares

In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 6,192 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $115.85, for a total value of $717,343.20. Following the sale, the director owned 33,816 shares in the company, valued at approximately $3,917,583.60. This represents a 15.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Susan L. Merkatoris sold 3,700 shares of the stock in a transaction on Monday, April 21st. The stock was sold at an average price of $108.58, for a total transaction of $401,746.00. Following the sale, the director directly owned 78,218 shares in the company, valued at $8,492,910.44. This trade represents a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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 corporate insiders.

Hedge Funds Weigh In On Nicolet Bankshares

Several institutional investors and hedge funds have recently modified their holdings of NIC. Rafferty Asset Management LLC grew its holdings in Nicolet Bankshares by 1.4% in the fourth quarter. Rafferty Asset Management LLC now owns 8,531 shares of the company's stock valued at $895,000 after purchasing an additional 120 shares during the period. Summit Investment Advisors Inc. grew its stake in Nicolet Bankshares by 11.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,410 shares of the company's stock valued at $148,000 after acquiring an additional 140 shares during the period. Advisory Research Inc. increased its holdings in Nicolet Bankshares by 0.3% in the 4th quarter. Advisory Research Inc. now owns 44,723 shares of the company's stock worth $4,692,000 after acquiring an additional 155 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Nicolet Bankshares by 2.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 5,815 shares of the company's stock worth $610,000 after acquiring an additional 157 shares during the period. Finally, Sterling Capital Management LLC raised its position in Nicolet Bankshares by 748.7% during the fourth quarter. Sterling Capital Management LLC now owns 331 shares of the company's stock worth $35,000 after acquiring an additional 292 shares during the period. Hedge funds and other 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.