Nicolet Bankshares (NYSE:NIC) Issues Earnings Results

Nicolet Bankshares (NYSE:NIC) released its quarterly earnings data on Tuesday. The company reported $3.15 earnings per share for the quarter, beating analysts’ consensus estimates of $3.07 by $0.08, FiscalAI reports. Nicolet Bankshares had a return on equity of 11.71% and a net margin of 22.11%. The company had revenue of $174.43 million for the quarter, compared to the consensus estimate of $173.64 million.

Nicolet Bankshares Trading Up 0.8%

Shares of NIC stock opened at $165.90 on Thursday. Nicolet Bankshares has a 12-month low of $114.11 and a 12-month high of $180.00. The company has a market capitalization of $3.48 billion, a P/E ratio of 18.35 and a beta of 0.64. The firm has a 50-day moving average price of $168.44 and a 200 day moving average price of $159.64. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.04.

Nicolet Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be given a dividend of $0.36 per share. The ex-dividend date is Tuesday, December 1st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.9%. Nicolet Bankshares’s dividend payout ratio (DPR) is 15.93%.

Nicolet Bankshares News Roundup

Here are the key news stories impacting Nicolet Bankshares this week:

• Positive Sentiment: Q3 earnings exceeded estimates: Nicolet reported earnings of $3.15 per share, above analyst expectations ranging from $3.06 to $3.07 and up from $2.66 a year earlier. Revenue of $174.43 million also slightly surpassed the $173.64 million consensus estimate. Nicolet Bankshares Surpasses Q3 Earnings and Revenue Estimates
• Positive Sentiment: Dividend maintained: The company declared a quarterly dividend of $0.36 per share, payable December 15 to shareholders of record December 1. The dividend equals $1.44 annually and represents an approximately 0.9% yield, offering continued shareholder income. Nicolet Bankshares Declares $0.36 Dividend
• Neutral Sentiment: Market reaction remains cautious: Although the earnings beat was favorable, revenue was essentially in line with forecasts, and one report indicated that shares slipped following the release. This suggests investors may have viewed the results as solid but not sufficiently strong to drive a larger repricing. Nicolet Bankshares Edges Past Estimates but Shares Slip

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NIC. Keefe, Bruyette & Woods increased their target price on Nicolet Bankshares from $175.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Piper Sandler boosted their price target on Nicolet Bankshares from $194.00 to $196.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Weiss Ratings raised Nicolet Bankshares from a “buy (a)” rating to a “buy (a+)” rating in a research note on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $183.50.

Insider Transactions at Nicolet Bankshares

In other news, EVP Eric Witczak sold 1,215 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $167.89, for a total transaction of $203,986.35. Following the completion of the sale, the executive vice president owned 33,630 shares of the company’s stock, valued at approximately $5,646,140.70. This trade represents a 3.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert Atwell sold 2,662 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $170.24, for a total transaction of $453,178.88. Following the sale, the director directly owned 34,483 shares of the company’s stock, valued at approximately $5,870,385.92. The trade was a 7.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 4,219 shares of company stock worth $715,976. Company insiders own 7.20% of the company’s stock.

Nicolet Bankshares Company Profile

Nicolet Bankshares, Inc is a bank holding company headquartered in Green Bay, Wisconsin. Through its principal subsidiary, Nicolet National Bank, the company provides banking and financial services to individuals, families, businesses and organizations.

Nicolet National Bank offers commercial and consumer lending, deposit accounts, residential and commercial real estate financing, treasury management and other business banking services. Its offerings also include wealth management, trust and investment services, mortgage banking and related financial solutions.

Founded in 2000, Nicolet has built a community-banking franchise serving customers primarily in Wisconsin and neighboring market areas.