Nicolet Bankshares (NYSE:NIC) Sees Large Volume Increase – Here’s Why

Shares of Nicolet Bankshares, Inc. (NYSE:NIC) saw strong trading volume on Tuesday . 68,480 shares were traded during trading, an increase of 43% from the previous session’s volume of 48,029 shares.The stock last traded at $113.42 and had previously closed at $110.95.

Analyst Ratings Changes

NIC has been the subject of a number of research reports. Keefe, Bruyette & Woods upped their target price on shares of Nicolet Bankshares from $110.00 to $115.00 and gave the stock a “market perform” rating in a research report on Thursday, January 23rd. Maxim Group raised their target price on shares of Nicolet Bankshares from $124.00 to $131.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, Piper Sandler increased their price objective on shares of Nicolet Bankshares from $119.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd.

Nicolet Bankshares Trading Down 0.2 %

The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market capitalization of $1.71 billion, a PE ratio of 14.05 and a beta of 0.76. The stock’s 50-day moving average price is $113.91 and its 200 day moving average price is $107.25.

Nicolet Bankshares (NYSE:NIC) last released its quarterly earnings data on Tuesday, January 21st. The company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.23. Nicolet Bankshares had a net margin of 23.83% and a return on equity of 10.95%. On average, sell-side analysts expect that Nicolet Bankshares, Inc. will post 8.18 EPS for the current fiscal year.

Nicolet Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.12 dividend on an annualized basis and a yield of 0.99%. Nicolet Bankshares’s payout ratio is 13.95%.

Insiders Place Their Bets

In other news, Director Robert Bruce Atwell sold 3,975 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $118.08, for a total transaction of $469,368.00. Following the sale, the director now owns 30,317 shares in the company, valued at approximately $3,579,831.36. The trade was a 11.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan L. Merkatoris sold 300 shares of Nicolet Bankshares stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $115.26, for a total transaction of $34,578.00. Following the completion of the sale, the director now owns 81,918 shares of the company’s stock, valued at $9,441,868.68. This trade represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,527 shares of company stock valued at $996,674. 16.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nicolet Bankshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NIC. Quest Partners LLC increased its holdings in shares of Nicolet Bankshares by 858.0% in the third quarter. Quest Partners LLC now owns 2,922 shares of the company’s stock valued at $279,000 after purchasing an additional 2,617 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Nicolet Bankshares by 3.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 116,409 shares of the company’s stock worth $11,132,000 after buying an additional 3,650 shares during the period. Fisher Asset Management LLC raised its position in Nicolet Bankshares by 7.9% during the 3rd quarter. Fisher Asset Management LLC now owns 14,978 shares of the company’s stock worth $1,432,000 after buying an additional 1,092 shares during the last quarter. FMR LLC lifted its stake in Nicolet Bankshares by 0.5% during the 3rd quarter. FMR LLC now owns 589,766 shares of the company’s stock valued at $56,399,000 after acquiring an additional 2,654 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of Nicolet Bankshares in the third quarter worth $155,000. Hedge funds and other institutional investors own 43.06% of the company’s stock.

Nicolet Bankshares Company Profile

Nicolet Bankshares, Inc operates as the bank holding company for Nicolet National Bank that provides banking products and services for businesses and individuals in Wisconsin and Michigan. The company accepts checking, savings, and money market accounts; various certificates of deposit; and individual retirement accounts.