Nicolet Bankshares (NYSE:NIC) Announces Quarterly Earnings Results, Beats Estimates By $0.18 EPS

Nicolet Bankshares (NYSE:NIC) announced its quarterly earnings results on Tuesday. The company reported $2.73 EPS for the quarter, beating the consensus estimate of $2.55 by $0.18, FiscalAI reports. Nicolet Bankshares had a return on equity of 12.08% and a net margin of 26.39%.

Nicolet Bankshares Price Performance

Shares of NYSE:NIC traded up $0.16 during midday trading on Tuesday, hitting $131.62. The company’s stock had a trading volume of 127,714 shares, compared to its average volume of 154,288. The company has a market cap of $1.95 billion, a P/E ratio of 14.09 and a beta of 0.78. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.96 and a current ratio of 0.96. Nicolet Bankshares has a 12-month low of $97.90 and a 12-month high of $141.92. The business’s 50 day simple moving average is $126.22 and its 200 day simple moving average is $129.24.

Nicolet Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 8th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Monday, December 8th. Nicolet Bankshares’s dividend payout ratio is 13.70%.

Insider Buying and Selling

In other news, CFO Hubert Phillip Moore, Jr. purchased 240 shares of the company’s stock in a transaction dated Thursday, October 30th. The stock was acquired at an average price of $115.84 per share, with a total value of $27,801.60. Following the purchase, the chief financial officer directly owned 32,947 shares in the company, valued at approximately $3,816,580.48. This represents a 0.73% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert J. Weyers acquired 3,000 shares of the stock in a transaction that occurred on Thursday, October 30th. The stock was acquired at an average price of $115.73 per share, with a total value of $347,190.00. Following the completion of the transaction, the director directly owned 26,250 shares of the company’s stock, valued at $3,037,912.50. This trade represents a 12.90% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 3,370 shares of company stock worth $390,760. 14.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NIC. CIBC Bancorp USA Inc. purchased a new stake in shares of Nicolet Bankshares during the third quarter worth approximately $463,000. Dark Forest Capital Management LP grew its position in Nicolet Bankshares by 111.1% during the 3rd quarter. Dark Forest Capital Management LP now owns 6,799 shares of the company’s stock worth $914,000 after purchasing an additional 3,579 shares during the last quarter. Qube Research & Technologies Ltd increased its position in Nicolet Bankshares by 71.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 49,468 shares of the company’s stock valued at $6,653,000 after acquiring an additional 20,640 shares during the period. Aquatic Capital Management LLC lifted its holdings in shares of Nicolet Bankshares by 15.2% during the third quarter. Aquatic Capital Management LLC now owns 3,302 shares of the company’s stock worth $444,000 after purchasing an additional 436 shares during the period. Finally, Creative Planning increased its stake in Nicolet Bankshares by 20.2% in the 3rd quarter. Creative Planning now owns 18,683 shares of the company’s stock valued at $2,513,000 after buying an additional 3,138 shares during the period. Hedge funds and other institutional investors own 43.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods upped their price target on Nicolet Bankshares from $160.00 to $165.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Nicolet Bankshares in a report on Wednesday, October 8th. Finally, Zacks Research raised Nicolet Bankshares from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $155.33.

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.