Nicolet Bankshares (NYSE:NIC) Hits New 52-Week High - Here's What Happened

Nicolet Bankshares Inc. (NYSE:NIC - Get Free Report) shares 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. The stock had previously closed at $127.67.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Keefe, Bruyette & Woods upped their price objective 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 reduced their price objective on Nicolet Bankshares from $120.00 to $118.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th.

Nicolet Bankshares Price Performance

The company has a 50-day moving average of $121.38 and a two-hundred day moving average of $114.34. The stock has a market capitalization of $1.98 billion, a PE ratio of 15.87 and a beta of 0.76. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.97 and a quick ratio of 0.97.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last released its 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 return on equity of 11.08% and a net margin of 24.31%. The firm had revenue of $89.43 million for the quarter, compared to the consensus estimate of $70.08 million. Sell-side analysts predict that Nicolet Bankshares Inc. will post 8.18 EPS for the current fiscal year.

Nicolet Bankshares Increases Dividend

The company 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 represents a $1.28 dividend on an annualized basis and a dividend yield of 0.97%. This is an increase from Nicolet Bankshares's previous quarterly dividend of $0.28. The ex-dividend date was Monday, June 2nd. Nicolet Bankshares's dividend payout ratio (DPR) is 15.44%.

Insider Transactions at Nicolet Bankshares

In other news, Director Susan L. Merkatoris sold 3,700 shares of the firm's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $108.58, for a total value of $401,746.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Bruce Atwell sold 6,192 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $115.85, for a total value of $717,343.20. Following the completion of the transaction, the director owned 33,816 shares in the company, valued at approximately $3,917,583.60. This trade represents a 15.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,226 shares of company stock worth $1,884,826. Company insiders own 14.20% of the company's stock.

Hedge Funds Weigh In On Nicolet Bankshares

A number of large investors have recently modified their holdings of NIC. Sterling Capital Management LLC raised its holdings 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 worth $35,000 after purchasing an additional 292 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Nicolet Bankshares in the fourth quarter valued at about $61,000. KBC Group NV acquired a new stake in shares of Nicolet Bankshares in the first quarter valued at about $95,000. Summit Investment Advisors Inc. grew its stake in shares of 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 buying an additional 140 shares in the last quarter. Finally, Smith Group Asset Management LLC acquired a new stake in shares of Nicolet Bankshares in the first quarter valued at about $210,000. 43.06% of the stock is currently 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.