Nicolet Bankshares (NYSE:NIC) Shares Up 7.5% After Strong Earnings

Nicolet Bankshares Inc. (NYSE:NIC)’s share price rose 7.5% during trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $141.24 and last traded at $141.31. Approximately 105,138 shares traded hands during trading, a decline of 32% from the average daily volume of 153,788 shares. The stock had previously closed at $131.43.

The company reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.18. Nicolet Bankshares had a net margin of 26.98% and a return on equity of 12.65%. The business had revenue of $80.89 million during the quarter, compared to the consensus estimate of $79.67 million.

Nicolet Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Monday, March 2nd. Nicolet Bankshares’s dividend payout ratio (DPR) is currently 13.70%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Nicolet Bankshares in a report on Wednesday, October 8th. Piper Sandler raised their target price on Nicolet Bankshares from $145.00 to $148.00 and gave the stock a “neutral” rating in a research note on Wednesday. Zacks Research raised Nicolet Bankshares from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 30th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Nicolet Bankshares from $160.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $158.00.

Insiders Place Their Bets

In related news, Director Robert J. Weyers acquired 3,000 shares of the company’s stock in a transaction on Thursday, October 30th. The shares were acquired at an average cost of $115.73 per share, for a total transaction of $347,190.00. Following the purchase, the director owned 26,250 shares in the company, valued at approximately $3,037,912.50. The trade was a 12.90% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Hubert Phillip Moore, Jr. acquired 240 shares of Nicolet Bankshares stock in a transaction on Thursday, October 30th. The stock was purchased at an average cost of $115.84 per share, with a total value of $27,801.60. Following the completion of the transaction, the chief financial officer directly owned 32,947 shares in the company, valued at $3,816,580.48. This represents a 0.73% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 3,370 shares of company stock valued at $390,760 over the last three months. 16.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nicolet Bankshares

Several large investors have recently made changes to their positions in NIC. First Trust Advisors LP boosted its holdings in shares of Nicolet Bankshares by 4.1% in the 3rd quarter. First Trust Advisors LP now owns 540,486 shares of the company’s stock worth $72,695,000 after buying an additional 21,473 shares during the last quarter. Boston Partners raised its position in Nicolet Bankshares by 40.6% in the third quarter. Boston Partners now owns 199,396 shares of the company’s stock worth $26,789,000 after acquiring an additional 57,536 shares during the period. American Century Companies Inc. boosted its stake in Nicolet Bankshares by 485.7% in the second quarter. American Century Companies Inc. now owns 184,281 shares of the company’s stock valued at $22,755,000 after acquiring an additional 152,817 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Nicolet Bankshares by 3.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 60,004 shares of the company’s stock valued at $7,409,000 after acquiring an additional 1,940 shares during the period. Finally, Qube Research & Technologies Ltd grew its position in shares of Nicolet Bankshares by 71.6% during the 3rd quarter. Qube Research & Technologies Ltd now owns 49,468 shares of the company’s stock valued at $6,653,000 after acquiring an additional 20,640 shares during the period. 43.06% of the stock is owned by hedge funds and other institutional investors.

Nicolet Bankshares Stock Performance

The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $2.14 billion, a PE ratio of 14.78 and a beta of 0.78. The company’s 50 day moving average price is $126.77 and its 200-day moving average price is $129.35.

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.