Nicolet Bankshares (NYSE:NIC) Sees Strong Trading Volume

Nicolet Bankshares, Inc. (NYSE:NIC) shares saw strong trading volume on Friday . 26,668 shares were traded during mid-day trading, a decline of 35% from the previous session’s volume of 41,114 shares.The stock last traded at $97.24 and had previously closed at $99.67.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Piper Sandler upped their price target on shares of Nicolet Bankshares from $86.00 to $104.00 and gave the company a “neutral” rating in a research report on Wednesday, July 17th. Stephens lifted their price objective on Nicolet Bankshares from $90.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $100.00.

Nicolet Bankshares Price Performance

The stock has a market capitalization of $1.47 billion, a P/E ratio of 14.98 and a beta of 0.76. The business has a fifty day simple moving average of $94.88 and a 200 day simple moving average of $85.65. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.15.

Nicolet Bankshares (NYSE:NIC) last posted its quarterly earnings results on Tuesday, July 16th. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.18. Nicolet Bankshares had a net margin of 21.13% and a return on equity of 10.20%. The company had revenue of $85.43 million for the quarter, compared to analysts’ expectations of $81.40 million. On average, analysts expect that Nicolet Bankshares, Inc. will post 7.3 earnings per share for the current year.

Nicolet Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.12 annualized dividend and a yield of 1.14%. Nicolet Bankshares’s dividend payout ratio is currently 17.26%.

Insider Buying and Selling at Nicolet Bankshares

In related news, Director Susan L. Merkatoris sold 5,000 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $97.45, for a total transaction of $487,250.00. Following the transaction, the director now owns 83,218 shares of the company’s stock, valued at approximately $8,109,594.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Susan L. Merkatoris sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $97.45, for a total transaction of $487,250.00. Following the transaction, the director now directly owns 83,218 shares of the company’s stock, valued at $8,109,594.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael E. Daniels sold 8,003 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $98.98, for a total value of $792,136.94. Following the completion of the transaction, the chief executive officer now directly owns 72,402 shares of the company’s stock, valued at approximately $7,166,349.96. The disclosure for this sale can be found here. Insiders have sold a total of 38,003 shares of company stock valued at $3,727,087 in the last 90 days. Corporate insiders own 16.40% of the company’s stock.

Hedge Funds Weigh In On Nicolet Bankshares

A number of hedge funds have recently bought and sold shares of the business. Rothschild Investment LLC purchased a new position in shares of Nicolet Bankshares during the 2nd quarter worth $67,000. EntryPoint Capital LLC raised its holdings in Nicolet Bankshares by 97.3% during the first quarter. EntryPoint Capital LLC now owns 1,101 shares of the company’s stock valued at $95,000 after acquiring an additional 543 shares during the period. Blair William & Co. IL purchased a new position in shares of Nicolet Bankshares in the first quarter valued at about $201,000. ProShare Advisors LLC purchased a new stake in shares of Nicolet Bankshares during the first quarter worth about $203,000. Finally, Johnson Financial Group Inc. raised its stake in Nicolet Bankshares by 745.0% during the 4th quarter. Johnson Financial Group Inc. now owns 5,915 shares of the company’s stock valued at $476,000 after purchasing an additional 5,215 shares during the period. Hedge funds and other institutional investors own 43.06% of the company’s stock.

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.