Nicolet Bankshares (NYSE:NIC) Stock Price Down 6.5% on Disappointing Earnings

Nicolet Bankshares Inc. (NYSE:NIC) shares dropped 6.5% during mid-day trading on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $143.25 and last traded at $144.7750. Approximately 266,474 shares changed hands during trading, an increase of 35% from the average daily volume of 196,831 shares. The stock had previously closed at $154.86.

The company reported $2.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.23). The business had revenue of $134.85 million for the quarter, compared to analysts’ expectations of $129.74 million. Nicolet Bankshares had a return on equity of 13.92% and a net margin of 21.89%.

Nicolet Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.0%. This is a boost from Nicolet Bankshares’s previous quarterly dividend of $0.32. The ex-dividend date is Monday, June 1st. Nicolet Bankshares’s payout ratio is currently 13.06%.

Nicolet Bankshares News Roundup

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

• Positive Sentiment: Board approved a quarterly dividend increase to $0.36/share (12.5% raise vs prior quarter), providing income support and signaling management confidence in capital. (ex-dividend and pay dates in June)
• Positive Sentiment: Piper Sandler kept an Overweight rating and a high price target (trimmed slightly to $183), signaling continued buy-side conviction that there’s meaningful upside longer term. Piper Sandler lowers price target to $183
• Neutral Sentiment: Nicolet and Sunwest agreed on a sale of certain former MidWestOne / Bank of Denver branches — likely a regulatory or strategic divestiture tied to the MidWestOne merger that slightly trims branch footprint but helps clear integration/overlap issues. Sunwest Bank acquires former MidwestOne and Bank of Denver branches
• Neutral Sentiment: Coverage pieces note that the MidWestOne acquisition doubled NIC’s branch footprint and assets (~$15.6B) but integration risk and a stretched valuation (2.44x TBV, forward P/E above peers) argue for patience; the tone is cautious (Hold). Nicolet Bankshares Needs Time To Catch Up To Its Valuation
• Negative Sentiment: Q1 EPS of $2.75 missed consensus ($2.98) despite revenue beating estimates; earnings shortfall is the primary near-term catalyst for selling pressure as investors reassess margin/earnings momentum. NIC Q1 earnings and revenues lag estimates (Zacks)
• Negative Sentiment: Zacks Research downgraded NIC from Strong-Buy to Hold, reducing near-term buy-side conviction and contributing to downside pressure. Zacks downgrades NIC to Hold

Analyst Ratings Changes

NIC has been the topic of a number of recent research reports. Hovde Group reiterated an “outperform” rating and set a $190.00 price target on shares of Nicolet Bankshares in a research note on Tuesday, January 27th. Piper Sandler cut their price target on shares of Nicolet Bankshares from $185.00 to $183.00 and set an “overweight” rating on the stock in a research note on Wednesday. Weiss Ratings reiterated a “buy (b)” rating on shares of Nicolet Bankshares in a research note on Thursday, January 22nd. Zacks Research lowered shares of Nicolet Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Monday. Finally, Keefe, Bruyette & Woods upped their target price on shares of Nicolet Bankshares from $165.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, January 22nd. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $179.00.

Insider Buying and Selling at Nicolet Bankshares

In related news, Director Robert Bruce Atwell sold 3,309 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $149.82, for a total transaction of $495,754.38. Following the sale, the director directly owned 34,054 shares in the company, valued at approximately $5,101,970.28. This represents a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 13,036 shares of company stock worth $1,992,022 in the last 90 days. 7.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Nicolet Bankshares

A number of large investors have recently made changes to their positions in NIC. Millennium Management LLC purchased a new stake in shares of Nicolet Bankshares during the fourth quarter worth approximately $7,949,000. JPMorgan Chase & Co. increased its stake in shares of Nicolet Bankshares by 247.1% during the fourth quarter. JPMorgan Chase & Co. now owns 82,920 shares of the company’s stock worth $10,058,000 after buying an additional 59,031 shares during the period. Boston Partners boosted its holdings in Nicolet Bankshares by 40.6% in the third quarter. Boston Partners now owns 199,396 shares of the company’s stock valued at $26,789,000 after purchasing an additional 57,536 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Nicolet Bankshares by 91.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 120,218 shares of the company’s stock valued at $14,582,000 after purchasing an additional 57,280 shares during the last quarter. Finally, Tudor Investment Corp ET AL increased its stake in Nicolet Bankshares by 196.0% in the fourth quarter. Tudor Investment Corp ET AL now owns 84,708 shares of the company’s stock valued at $10,275,000 after purchasing an additional 56,086 shares during the last quarter. 43.06% of the stock is currently owned by hedge funds and other institutional investors.

Nicolet Bankshares Price Performance

The company has a market capitalization of $3.05 billion, a PE ratio of 16.74 and a beta of 0.74. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.97. The company’s 50 day simple moving average is $151.73 and its 200 day simple moving average is $137.49.

Nicolet Bankshares Company Profile

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.