Nicolet Bankshares (NYSE:NIC) Reaches New 12-Month High – Here’s Why

Nicolet Bankshares, Inc. (NYSE:NIC) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $120.30 and last traded at $120.28, with a volume of 1269 shares trading hands. The stock had previously closed at $119.87.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Piper Sandler increased their target price on Nicolet Bankshares from $119.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods lifted their target price on Nicolet Bankshares from $110.00 to $115.00 and gave the company a “market perform” rating in a research report on Thursday, January 23rd. Finally, Maxim Group boosted their price target on Nicolet Bankshares from $124.00 to $131.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd.

Nicolet Bankshares Price Performance

The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The company has a market cap of $1.78 billion, a PE ratio of 14.49 and a beta of 0.77. The firm has a 50 day simple moving average of $111.36 and a 200-day simple moving average of $105.59.

Nicolet Bankshares (NYSE:NIC) last posted its quarterly earnings data on Tuesday, January 21st. The company reported $2.17 EPS for the quarter, topping the consensus estimate of $1.94 by $0.23. Nicolet Bankshares had a net margin of 23.83% and a return on equity of 10.95%. As a group, research analysts predict that Nicolet Bankshares, Inc. will post 8.18 earnings per share for the current fiscal year.

Nicolet Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.28 per share. The ex-dividend date is Monday, March 10th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.96%. Nicolet Bankshares’s dividend payout ratio is currently 13.95%.

Insider Buying and Selling

In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 7,609 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $113.00, for a total transaction of $859,817.00. Following the completion of the sale, the director now owns 32,831 shares of the company’s stock, valued at $3,709,903. This trade represents a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan L. Merkatoris sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $111.27, for a total transaction of $111,270.00. Following the completion of the sale, the director now directly owns 82,218 shares in the company, valued at $9,148,396.86. This trade represents a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,781 shares of company stock worth $2,832,698. 16.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nicolet Bankshares

Institutional investors have recently modified their holdings of the company. Heck Capital Advisors LLC purchased a new position in Nicolet Bankshares during the 4th quarter worth approximately $629,000. North Star Asset Management Inc. boosted its stake in shares of Nicolet Bankshares by 1.2% in the fourth quarter. North Star Asset Management Inc. now owns 46,088 shares of the company’s stock valued at $4,835,000 after buying an additional 548 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Nicolet Bankshares by 24.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,856 shares of the company’s stock worth $2,922,000 after purchasing an additional 5,492 shares during the period. Rafferty Asset Management LLC grew its position in Nicolet Bankshares by 1.4% during the fourth quarter. Rafferty Asset Management LLC now owns 8,531 shares of the company’s stock worth $895,000 after buying an additional 120 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Nicolet Bankshares in the 4th quarter worth approximately $61,000. 43.06% of the stock is owned by hedge funds and other institutional investors.

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.