Nicolet Bankshares (NYSE:NIC) Shares Gap Down Following Weak Earnings

Nicolet Bankshares, Inc. (NYSE:NIC) shares gapped down prior to trading on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $77.71, but opened at $75.39. Nicolet Bankshares shares last traded at $75.71, with a volume of 25,683 shares changing hands.

The company reported $1.72 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.02). Nicolet Bankshares had a net margin of 14.69% and a return on equity of 9.71%. The business had revenue of $82.73 million for the quarter, compared to analyst estimates of $81.40 million.

Nicolet Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 8th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.32%. The ex-dividend date was Thursday, March 7th. Nicolet Bankshares’s dividend payout ratio is presently 24.63%.

Analyst Ratings Changes

NIC has been the subject of several recent research reports. Stephens reissued an “equal weight” rating and set a $92.00 target price on shares of Nicolet Bankshares in a research note on Wednesday. Keefe, Bruyette & Woods increased their target price on shares of Nicolet Bankshares from $84.00 to $85.00 and gave the company a “market perform” rating in a research note on Thursday, January 18th. TheStreet raised shares of Nicolet Bankshares from a “c+” rating to a “b” rating in a research note on Wednesday, January 17th. Piper Sandler reduced their price target on shares of Nicolet Bankshares from $88.00 to $82.50 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Hovde Group upgraded shares of Nicolet Bankshares from a “market perform” rating to an “outperform” rating in a research report on Monday, March 4th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $88.63.

Insider Activity at Nicolet Bankshares

In other Nicolet Bankshares news, EVP Eric James Witczak sold 2,053 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $82.45, for a total value of $169,269.85. Following the completion of the sale, the executive vice president now owns 41,427 shares in the company, valued at approximately $3,415,656.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 2,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $81.93, for a total value of $163,860.00. Following the completion of the sale, the director now owns 42,889 shares in the company, valued at approximately $3,513,895.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Eric James Witczak sold 2,053 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $82.45, for a total transaction of $169,269.85. Following the completion of the sale, the executive vice president now owns 41,427 shares of the company’s stock, valued at approximately $3,415,656.15. The disclosure for this sale can be found here. 16.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Nicolet Bankshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NIC. Wells Fargo & Company MN acquired a new position in shares of Nicolet Bankshares during the 4th quarter worth $35,000. Citigroup Inc. acquired a new position in shares of Nicolet Bankshares during the 4th quarter worth $35,000. Metropolitan Life Insurance Co NY acquired a new position in shares of Nicolet Bankshares during the 4th quarter worth $58,000. Tower Research Capital LLC TRC increased its stake in shares of Nicolet Bankshares by 92.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 912 shares of the company’s stock worth $62,000 after purchasing an additional 439 shares during the last quarter. Finally, Harbour Investments Inc. increased its stake in shares of Nicolet Bankshares by 14.7% during the 4th quarter. Harbour Investments Inc. now owns 1,569 shares of the company’s stock worth $126,000 after purchasing an additional 201 shares during the last quarter. Hedge funds and other institutional investors own 43.06% of the company’s stock.

Nicolet Bankshares Trading Down 2.2 %

The company’s 50 day moving average price is $80.52 and its 200 day moving average price is $77.66. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 18.73 and a beta of 0.74. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.95 and a current ratio of 0.95.

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.