Nicolet Bankshares (NYSE:NIC) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Nicolet Bankshares (NYSE:NIC) posted its earnings results on Tuesday. The company reported $3.15 EPS for the quarter, beating the consensus estimate of $3.07 by $0.08, FiscalAI reports. The company had revenue of $174.43 million for the quarter, compared to the consensus estimate of $173.64 million. Nicolet Bankshares had a return on equity of 11.36% and a net margin of 21.77%.

Nicolet Bankshares Stock Performance

NYSE NIC traded up $2.46 during trading on Tuesday, reaching $165.04. The company’s stock had a trading volume of 247,636 shares, compared to its average volume of 209,986. The firm has a 50 day moving average price of $168.92 and a 200 day moving average price of $159.42. Nicolet Bankshares has a 12 month low of $114.11 and a 12 month high of $180.00. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of 18.73 and a beta of 0.64. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.04.

Insider Activity at Nicolet Bankshares

In other news, Director Robert Atwell sold 2,662 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $5,870,385.92. This trade represents a 7.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Eric Witczak sold 1,215 shares of Nicolet Bankshares stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $167.89, for a total transaction of $203,986.35. Following the completion of the sale, the executive vice president owned 33,630 shares of the company’s stock, valued at approximately $5,646,140.70. The trade was a 3.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,219 shares of company stock worth $715,976 over the last ninety days. Insiders own 7.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on NIC shares. Raymond James Financial started coverage on Nicolet Bankshares in a report on Tuesday, June 23rd. They set a “market perform” rating for the company. Piper Sandler set a $194.00 price target on Nicolet Bankshares in a research note on Wednesday, July 22nd. Weiss Ratings raised Nicolet Bankshares from a “buy (a)” rating to a “buy (a+)” rating in a report on Thursday, October 8th. Keefe, Bruyette & Woods increased their price objective on Nicolet Bankshares from $175.00 to $185.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Finally, Zacks Research upgraded Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $183.00.

Nicolet Bankshares Company Profile

Nicolet Bankshares, Inc is a bank holding company headquartered in Green Bay, Wisconsin. Through its principal subsidiary, Nicolet National Bank, the company provides banking and financial services to individuals, families, businesses and organizations.

Nicolet National Bank offers commercial and consumer lending, deposit accounts, residential and commercial real estate financing, treasury management and other business banking services. Its offerings also include wealth management, trust and investment services, mortgage banking and related financial solutions.

Founded in 2000, Nicolet has built a community-banking franchise serving customers primarily in Wisconsin and neighboring market areas.