Insider Selling: Nicolet Bankshares (NYSE:NIC) Director Sells $453,178.88 in Stock

Nicolet Bankshares Inc. (NYSE:NIC) Director Robert Bruce Atwell sold 2,662 shares of the firm’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $170.24, for a total transaction of $453,178.88. Following the transaction, the director directly owned 34,483 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this hyperlink.

Nicolet Bankshares Trading Down 0.9%

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

Nicolet Bankshares (NYSE:NIC) last announced its earnings results on Tuesday, July 21st. The company reported $2.99 earnings per share 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 the consensus estimate of $171.93 million. Nicolet Bankshares had a return on equity of 11.36% and a net margin of 21.77%. On average, equities analysts expect that Nicolet Bankshares Inc. will post 12.3 earnings per share for the current fiscal year.

Nicolet Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given 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%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Nicolet Bankshares

Hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC raised its position in shares of Nicolet Bankshares by 3,940.0% in 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 in the last quarter. Meeder Asset Management Inc. purchased a new stake in Nicolet Bankshares in the fourth quarter worth $48,000. Clearstead Advisors LLC grew its stake in Nicolet Bankshares by 192.9% in the fourth quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock worth $55,000 after purchasing an additional 297 shares during the period. Parallel Advisors LLC raised its holdings in Nicolet Bankshares by 151.9% in the first quarter. Parallel Advisors LLC now owns 607 shares of the company’s stock worth $90,000 after purchasing an additional 366 shares in the last quarter. Finally, UMB Bank n.a. bought a new position in Nicolet Bankshares in the fourth quarter worth $102,000. Institutional investors own 43.06% of the company’s stock.

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.