Eric James Witczak Sells 342 Shares of Nicolet Bankshares (NYSE:NIC) Stock

Nicolet Bankshares Inc. (NYSE:NIC) EVP Eric James Witczak sold 342 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $171.96, for a total value of $58,810.32. Following the completion of the sale, the executive vice president owned 33,288 shares in the company, valued at $5,724,204.48. The trade was a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Eric James Witczak also recently made the following trade(s):

• On Monday, July 27th, Eric James Witczak sold 1,215 shares of Nicolet Bankshares stock. The stock was sold at an average price of $167.89, for a total value of $203,986.35.

Nicolet Bankshares Stock Performance

Shares of NIC opened at $169.58 on Friday. The firm has a 50-day moving average price of $155.76 and a 200 day moving average price of $150.55. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $3.60 billion, a PE ratio of 19.25 and a beta of 0.65. Nicolet Bankshares Inc. has a 52-week low of $114.11 and a 52-week high of $174.00.

Nicolet Bankshares (NYSE:NIC) last released its earnings results on Tuesday, July 21st. The company reported $2.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.14. The firm had revenue of $177.75 million for the quarter, compared to analyst estimates of $171.93 million. Nicolet Bankshares had a return on equity of 11.36% and a net margin of 21.77%. On average, sell-side analysts anticipate that Nicolet Bankshares Inc. will post 12.3 earnings per share for the current fiscal year.

Nicolet Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.44 dividend on an annualized basis and a yield of 0.8%. Nicolet Bankshares’s dividend payout ratio (DPR) is currently 16.35%.

Analysts Set New Price Targets

A number of analysts have commented on NIC shares. Hovde Group reduced their price objective on shares of Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. Keefe, Bruyette & Woods lifted their target price on shares of Nicolet Bankshares from $175.00 to $185.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Weiss Ratings lowered shares of Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Zacks Research upgraded shares of Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Finally, Piper Sandler set a $194.00 price objective on shares of Nicolet Bankshares in a research note on Wednesday, July 22nd. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $183.00.

Institutional Investors Weigh In On Nicolet Bankshares

Several hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its position in Nicolet Bankshares by 3,940.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock worth $25,000 after acquiring an additional 197 shares during the period. Meeder Asset Management Inc. purchased a new position in Nicolet Bankshares during the 4th quarter valued at about $48,000. Clearstead Advisors LLC increased its holdings in shares of Nicolet Bankshares by 192.9% in the 4th quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock valued at $55,000 after purchasing an additional 297 shares during the period. Parallel Advisors LLC increased its holdings in shares of Nicolet Bankshares by 151.9% in the 1st quarter. Parallel Advisors LLC now owns 607 shares of the company’s stock valued at $90,000 after purchasing an additional 366 shares during the period. Finally, UMB Bank n.a. purchased a new stake in shares of Nicolet Bankshares in the fourth quarter worth approximately $102,000. 43.06% of the stock is owned by hedge funds and other institutional investors.

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.