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

Nicolet Bankshares, Inc. (NYSE:NIC) gapped down prior to trading on Wednesday after the company announced weaker than expected quarterly earnings. 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.02). Nicolet Bankshares had a net margin of 14.69% and a return on equity of 9.71%. The company had revenue of $82.73 million for the quarter, compared to analyst estimates of $81.40 million.

Nicolet Bankshares Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. TheStreet upgraded Nicolet Bankshares from a “c+” rating to a “b” rating in a research report on Wednesday, January 17th. Hovde Group upgraded Nicolet Bankshares from a “market perform” rating to an “outperform” rating in a research report on Monday, March 4th. Piper Sandler cut their price objective on Nicolet Bankshares from $88.00 to $82.50 and set a “neutral” rating for the company in a research report on Wednesday. Stephens restated an “equal weight” rating and set a $92.00 price objective on shares of Nicolet Bankshares in a research report on Wednesday. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Nicolet Bankshares from $84.00 to $85.00 and gave the stock a “market perform” rating in a research note on Thursday, January 18th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $88.63.

Insiders Place Their Bets

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

Institutional Trading of Nicolet Bankshares

Several institutional investors have recently made changes to their positions in NIC. UBS Group AG purchased a new stake in shares of Nicolet Bankshares during the 4th quarter valued at $417,000. Citigroup Inc. purchased a new stake in Nicolet Bankshares during the 4th quarter worth $35,000. Advisor Group Holdings Inc. purchased a new stake in Nicolet Bankshares during the 4th quarter worth $1,390,000. Victory Capital Management Inc. purchased a new stake in Nicolet Bankshares during the 4th quarter worth $401,000. Finally, Amalgamated Bank purchased a new stake in Nicolet Bankshares during the 4th quarter worth $131,000. 43.06% of the stock is owned by hedge funds and other institutional investors.

Nicolet Bankshares Trading Down 2.2 %

The business’s 50-day moving average is $80.52 and its two-hundred day moving average is $77.66. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.13 billion, a PE ratio of 18.73 and a beta of 0.74.

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.