Nicolet Bankshares (NYSE:NIC) Trading 7.5% Higher Following Strong Earnings

Nicolet Bankshares Inc. (NYSE:NIC)’s stock price shot up 7.5% on Wednesday following a stronger than expected earnings report. The company traded as high as $141.24 and last traded at $141.31. 105,138 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 153,788 shares. The stock had previously closed at $131.43.

The company reported $2.73 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.18. Nicolet Bankshares had a net margin of 26.39% and a return on equity of 12.08%. The firm had revenue of $80.89 million during the quarter, compared to analyst estimates of $79.67 million.

Nicolet Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Monday, March 2nd. Nicolet Bankshares’s dividend payout ratio (DPR) is 13.70%.

Analyst Ratings Changes

A number of research firms have recently commented on NIC. Keefe, Bruyette & Woods raised their price objective on shares of Nicolet Bankshares from $160.00 to $165.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Nicolet Bankshares in a report on Wednesday, October 8th. Piper Sandler reissued a “neutral” rating and issued a $148.00 target price on shares of Nicolet Bankshares in a report on Wednesday. Finally, Zacks Research upgraded Nicolet Bankshares from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 30th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $158.00.

Insider Activity at Nicolet Bankshares

In other news, CFO Hubert Phillip Moore, Jr. bought 240 shares of the business’s stock in a transaction dated Thursday, October 30th. The stock was bought at an average price of $115.84 per share, for a total transaction of $27,801.60. Following the completion of the purchase, the chief financial officer owned 32,947 shares of the company’s stock, valued at approximately $3,816,580.48. The trade was a 0.73% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert J. Weyers purchased 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The shares were acquired at an average price of $115.73 per share, for a total transaction of $347,190.00. Following the completion of the transaction, the director owned 26,250 shares in the company, valued at $3,037,912.50. The trade was a 12.90% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have bought 3,370 shares of company stock valued at $390,760. Company insiders own 14.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NIC. Sugar Maple Asset Management LLC increased its position in Nicolet Bankshares by 23.7% in the 4th quarter. Sugar Maple Asset Management LLC now owns 13,912 shares of the company’s stock valued at $1,687,000 after acquiring an additional 2,668 shares in the last quarter. Ellsworth Advisors LLC bought a new stake in shares of Nicolet Bankshares during the fourth quarter valued at approximately $846,000. Legacy Private Trust Co. raised its position in Nicolet Bankshares by 10.6% in the 4th quarter. Legacy Private Trust Co. now owns 20,423 shares of the company’s stock worth $2,477,000 after purchasing an additional 1,955 shares during the last quarter. JPMorgan Chase & Co. raised its position in Nicolet Bankshares by 12.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 23,889 shares of the company’s stock worth $3,213,000 after purchasing an additional 2,709 shares during the last quarter. Finally, Tudor Investment Corp ET AL acquired a new position in Nicolet Bankshares during the 3rd quarter worth $3,850,000. Institutional investors and hedge funds own 43.06% of the company’s stock.

Nicolet Bankshares Price Performance

The stock has a 50-day simple moving average of $126.37 and a 200 day simple moving average of $129.24. The stock has a market capitalization of $2.09 billion, a P/E ratio of 15.14 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.

About Nicolet Bankshares

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.