Nicolet Bankshares (NYSE:NIC) Reaches New 1-Year High Following Earnings Beat

Nicolet Bankshares Inc. (NYSE:NIC) shares reached a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $134.24 and last traded at $134.66, with a volume of 21283 shares traded. The stock had previously closed at $126.17.

The company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.14 by $0.21. Nicolet Bankshares had a return on equity of 11.53% and a net margin of 25.12%. The company had revenue of $95.74 million during the quarter, compared to the consensus estimate of $72.89 million.

Nicolet Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were issued a $0.32 dividend. This is an increase from Nicolet Bankshares’s previous quarterly dividend of $0.28. This represents a $1.28 annualized dividend and a dividend yield of 0.94%. The ex-dividend date was Monday, June 2nd. Nicolet Bankshares’s payout ratio is currently 15.44%.

Analyst Ratings Changes

NIC has been the subject of several research analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of Nicolet Bankshares from $115.00 to $118.00 and gave the stock a “market perform” rating in a report on Thursday, April 17th. Piper Sandler reiterated a “neutral” rating and set a $140.00 target price (up previously from $122.50) on shares of Nicolet Bankshares in a research note on Wednesday.

Insider Activity

In other Nicolet Bankshares news, Director Susan L. Merkatoris sold 3,700 shares of Nicolet Bankshares stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $108.58, for a total value of $401,746.00. Following the completion of the sale, the director owned 78,218 shares in the company, valued at $8,492,910.44. The trade was a 4.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Bruce Atwell sold 6,192 shares of the business’s stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $115.85, for a total transaction of $717,343.20. Following the completion of the sale, the director directly owned 33,816 shares of the company’s stock, valued at $3,917,583.60. This represents a 15.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,226 shares of company stock worth $1,884,826 over the last 90 days. 16.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nicolet Bankshares

A number of large investors have recently added to or reduced their stakes in the stock. Ballentine Partners LLC bought a new stake in shares of Nicolet Bankshares during the 2nd quarter valued at $231,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Nicolet Bankshares by 6.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 29,778 shares of the company’s stock valued at $3,245,000 after purchasing an additional 1,922 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Nicolet Bankshares by 6.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,134 shares of the company’s stock worth $886,000 after purchasing an additional 517 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in Nicolet Bankshares during the first quarter worth about $1,434,000. Finally, AQR Capital Management LLC increased its holdings in Nicolet Bankshares by 15.2% in the 1st quarter. AQR Capital Management LLC now owns 11,819 shares of the company’s stock valued at $1,288,000 after buying an additional 1,557 shares during the period. Institutional investors and hedge funds own 43.06% of the company’s stock.

Nicolet Bankshares Stock Up 8.0%

The firm’s 50-day moving average price is $123.16 and its 200 day moving average price is $115.55. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 15.65 and a beta of 0.76.

Nicolet Bankshares Company Profile

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.