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

Nicolet Bankshares Inc. (NYSE:NIC) traded up 7.5% during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $141.24 and last traded at $141.31. 105,138 shares traded hands during trading, a decline of 32% from the average session volume of 153,788 shares. The stock had previously closed at $131.43.

The company reported $2.73 earnings per share (EPS) for the quarter, topping 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 company had revenue of $80.89 million during the quarter, compared to the consensus estimate of $79.67 million.

Nicolet Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Monday, March 2nd. Nicolet Bankshares’s dividend payout ratio (DPR) is presently 13.06%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NIC shares. Keefe, Bruyette & Woods increased their price objective on Nicolet Bankshares from $165.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday. Zacks Research upgraded shares of Nicolet Bankshares from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 30th. Maxim Group lifted their price target on shares of Nicolet Bankshares from $161.00 to $173.00 and gave the company a “buy” rating in a research report on Thursday. Piper Sandler boosted their price objective on shares of Nicolet Bankshares from $145.00 to $148.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Nicolet Bankshares in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Nicolet Bankshares presently has an average rating of “Buy” and an average target price of $163.67.

Insider Activity at Nicolet Bankshares

In other Nicolet Bankshares news, CFO Hubert Phillip Moore, Jr. acquired 240 shares of the stock in a transaction that occurred on Thursday, October 30th. The shares were acquired at an average cost of $115.84 per share, with a total value of $27,801.60. Following the transaction, the chief financial officer owned 32,947 shares of the company’s stock, valued at $3,816,580.48. The trade was a 0.73% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert J. Weyers bought 3,000 shares of Nicolet Bankshares stock in a transaction on Thursday, October 30th. The stock was acquired at an average cost of $115.73 per share, with a total value of $347,190.00. Following the acquisition, the director owned 26,250 shares in the company, valued at approximately $3,037,912.50. This represents a 12.90% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders bought 3,370 shares of company stock worth $390,760. Insiders own 16.40% of the company’s stock.

Institutional Inflows and Outflows

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

Nicolet Bankshares Stock Down 0.0%

The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. The company has a market cap of $2.15 billion, a PE ratio of 14.79 and a beta of 0.78. The company’s fifty day moving average is $127.17 and its 200-day moving average is $129.46.

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.