Nicolet Bankshares (NYSE:NIC) Reaches New 52-Week High – What’s Next?

Nicolet Bankshares Inc. (NYSE:NIC) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $174.74 and last traded at $173.51, with a volume of 140545 shares trading hands. The stock had previously closed at $170.92.

Analyst Upgrades and Downgrades

Several research analysts have commented on NIC shares. Raymond James Financial initiated coverage on shares of Nicolet Bankshares in a report on Tuesday, June 23rd. They set a “market perform” rating for the company. Piper Sandler set a $194.00 price objective on Nicolet Bankshares in a report on Wednesday, July 22nd. Zacks Research raised Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Keefe, Bruyette & Woods boosted their price target on shares of Nicolet Bankshares from $175.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Finally, Hovde Group dropped their target price on Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.00.

Nicolet Bankshares Stock Down 0.8%

The company has a debt-to-equity ratio of 0.04, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 19.73 and a beta of 0.65. The firm’s 50-day simple moving average is $158.27 and its two-hundred day simple moving average is $151.80.

Nicolet Bankshares (NYSE:NIC) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $2.99 EPS for the quarter, topping the consensus estimate of $2.85 by $0.14. Nicolet Bankshares had a return on equity of 11.36% and a net margin of 21.77%.The business had revenue of $177.75 million for the quarter, compared to analyst estimates of $171.93 million. Sell-side analysts predict that Nicolet Bankshares Inc. will post 12.3 EPS for the current fiscal year.

Nicolet Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.44 annualized dividend and a yield of 0.8%. Nicolet Bankshares’s dividend payout ratio is 16.35%.

Insider Buying and Selling at Nicolet Bankshares

In related news, Director Robert Bruce Atwell sold 2,662 shares of the company’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 value of $453,178.88. Following the sale, the director owned 34,483 shares of the company’s stock, valued at approximately $5,870,385.92. This represents a 7.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Eric James Witczak sold 1,215 shares of the stock in a transaction on Monday, July 27th. The shares were sold at an average price of $167.89, for a total value of $203,986.35. Following the sale, the executive vice president owned 33,630 shares in the company, valued at approximately $5,646,140.70. This trade represents a 3.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 4,219 shares of company stock valued at $715,976 in the last ninety days. Corporate insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NIC. PDT Partners LLC boosted its holdings in shares of Nicolet Bankshares by 1.8% in the 2nd quarter. PDT Partners LLC now owns 5,572 shares of the company’s stock valued at $688,000 after purchasing an additional 100 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of Nicolet Bankshares by 4.9% during the 4th quarter. ProShare Advisors LLC now owns 2,424 shares of the company’s stock worth $294,000 after buying an additional 113 shares during the last quarter. LPL Financial LLC raised its position in shares of Nicolet Bankshares by 4.6% in the 4th quarter. LPL Financial LLC now owns 2,836 shares of the company’s stock worth $344,000 after buying an additional 126 shares during the period. Bank of Montreal Can boosted its holdings in Nicolet Bankshares by 0.6% in the fourth quarter. Bank of Montreal Can now owns 23,181 shares of the company’s stock valued at $2,829,000 after acquiring an additional 147 shares during the last quarter. Finally, Smith Group Asset Management LLC increased its stake in Nicolet Bankshares by 9.3% during the first quarter. Smith Group Asset Management LLC now owns 2,230 shares of the company’s stock worth $331,000 after acquiring an additional 189 shares during the last quarter. Institutional investors and hedge funds own 43.06% of the company’s stock.

About Nicolet Bankshares

Nicolet Bankshares, Inc is a bank holding company headquartered in Green Bay, Wisconsin. Through its subsidiary, Nicolet National Bank, it provides a range of commercial and consumer banking services to businesses, individuals and nonprofit organizations across northeastern Wisconsin and the Upper Peninsula of Michigan. The company’s branch network, digital banking platform and commercial lending centers support its focus on community banking and regional growth.

The company offers deposit products such as checking, savings and money market accounts, alongside consumer and commercial lending solutions.