Nicolet Bankshares (NYSE:NIC) Director Robert Bruce Atwell Sells 2,662 Shares

Nicolet Bankshares Inc. (NYSE:NIC) Director Robert Bruce Atwell sold 2,662 shares of the company’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $170.24, for a total value of $453,178.88. Following the completion of the transaction, the director owned 34,483 shares of the company’s stock, valued at $5,870,385.92. The trade was a 7.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Nicolet Bankshares Stock Performance

Shares of NYSE NIC opened at $173.02 on Wednesday. The stock’s 50-day moving average is $154.63 and its 200 day moving average is $149.92. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 19.64 and a beta of 0.65. Nicolet Bankshares Inc. has a 1-year low of $114.11 and a 1-year high of $173.48. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.04.

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

Nicolet Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders 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 annualized dividend and a yield of 0.8%. Nicolet Bankshares’s payout ratio is currently 16.35%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NIC shares. Raymond James Financial assumed coverage on Nicolet Bankshares in a research note on Tuesday, June 23rd. They set a “market perform” rating on the stock. Hovde Group lowered their target price on Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. Piper Sandler set a $194.00 target price on Nicolet Bankshares in a report on Wednesday, July 22nd. Zacks Research upgraded Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Finally, Keefe, Bruyette & Woods lifted their price target on Nicolet Bankshares from $175.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $183.00.

Hedge Funds Weigh In On Nicolet Bankshares

A number of hedge funds have recently modified their holdings of the company. Jennison Associates LLC bought a new position in shares of Nicolet Bankshares during the first quarter valued at about $31,794,000. Dimensional Fund Advisors LP grew its stake in shares of Nicolet Bankshares by 32.1% in the first quarter. Dimensional Fund Advisors LP now owns 819,274 shares of the company’s stock worth $121,756,000 after purchasing an additional 198,997 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Nicolet Bankshares in the fourth quarter worth about $7,949,000. JPMorgan Chase & Co. increased its holdings in Nicolet Bankshares by 247.1% during the 4th quarter. JPMorgan Chase & Co. now owns 82,920 shares of the company’s stock valued at $10,058,000 after purchasing an additional 59,031 shares during the period. Finally, Boston Partners increased its holdings in 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 purchasing an additional 57,536 shares during the period. Hedge funds and other institutional investors own 43.06% of the company’s stock.

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.