Nicolet Bankshares (NYSE:NIC) Sees Unusually-High Trading Volume – What’s Next?

Nicolet Bankshares, Inc. (NYSE:NIC) shares saw unusually-high trading volume on Tuesday . Approximately 60,114 shares traded hands during trading, an increase of 6% from the previous session’s volume of 56,516 shares.The stock last traded at $119.45 and had previously closed at $118.02.

Analyst Upgrades and Downgrades

NIC has been the subject of several research reports. Keefe, Bruyette & Woods raised their price objective on Nicolet Bankshares from $115.00 to $118.00 and gave the stock a “market perform” rating in a research note on Thursday, April 17th. Piper Sandler reduced their target price on Nicolet Bankshares from $120.00 to $118.00 and set a “neutral” rating for the company in a report on Wednesday, April 16th.

Nicolet Bankshares Stock Performance

The firm’s 50-day moving average price is $116.49 and its two-hundred day moving average price is $113.04. The firm has a market capitalization of $1.80 billion, a PE ratio of 14.86 and a beta of 0.76. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.14.

Nicolet Bankshares (NYSE:NIC) last posted its quarterly earnings data on Tuesday, April 15th. The company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.14. Nicolet Bankshares had a net margin of 23.83% and a return on equity of 10.95%. The firm had revenue of $89.43 million during the quarter, compared to analyst estimates of $70.08 million. As a group, research analysts predict that Nicolet Bankshares, Inc. will post 8.18 earnings per share for the current fiscal year.

Nicolet Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, June 2nd will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Monday, June 2nd. This is a boost from Nicolet Bankshares’s previous quarterly dividend of $0.28. Nicolet Bankshares’s dividend payout ratio (DPR) is 15.44%.

Insider Activity

In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 6,192 shares of the company’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $115.85, for a total value of $717,343.20. Following the transaction, the director now owns 33,816 shares in the company, valued at approximately $3,917,583.60. This represents a 15.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan L. Merkatoris sold 3,700 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $108.58, for a total transaction of $401,746.00. Following the completion of the sale, the director now owns 78,218 shares of the company’s stock, valued at approximately $8,492,910.44. The trade was a 4.52% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,226 shares of company stock worth $1,884,826. 16.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NIC. Sterling Capital Management LLC grew its stake in shares of Nicolet Bankshares by 748.7% in the 4th quarter. Sterling Capital Management LLC now owns 331 shares of the company’s stock valued at $35,000 after buying an additional 292 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Nicolet Bankshares in the fourth quarter valued at approximately $61,000. KBC Group NV acquired a new stake in Nicolet Bankshares in the first quarter valued at approximately $95,000. New York State Teachers Retirement System acquired a new position in shares of Nicolet Bankshares during the 4th quarter worth $128,000. Finally, Summit Investment Advisors Inc. raised its holdings in shares of Nicolet Bankshares by 11.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,410 shares of the company’s stock valued at $148,000 after purchasing an additional 140 shares in the last quarter. 43.06% of the stock is owned by institutional investors and hedge funds.

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.