Insider Buying: Nicolet Bankshares (NYSE:NIC) Director Purchases $347,190.00 in Stock

Nicolet Bankshares Inc. (NYSE:NIC) Director Robert Weyers bought 3,000 shares of the firm’s stock in a transaction dated Thursday, October 30th. The shares were bought 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 in the company, valued at approximately $3,037,912.50. This trade represents a 12.90% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Nicolet Bankshares Price Performance

Shares of NIC opened at $124.25 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a 50 day simple moving average of $130.66 and a 200 day simple moving average of $127.14. Nicolet Bankshares Inc. has a 52-week low of $97.90 and a 52-week high of $141.92. The firm has a market capitalization of $1.84 billion, a PE ratio of 13.30 and a beta of 0.76.

Nicolet Bankshares (NYSE:NIC) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.32. Nicolet Bankshares had a return on equity of 12.08% and a net margin of 26.39%.The business had revenue of $102.88 million during the quarter, compared to analyst estimates of $76.83 million. Sell-side analysts predict that Nicolet Bankshares Inc. will post 8.18 EPS for the current fiscal year.

Nicolet Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were given a $0.32 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $1.28 annualized dividend and a dividend yield of 1.0%. Nicolet Bankshares’s payout ratio is currently 13.70%.

Institutional Investors Weigh In On Nicolet Bankshares

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Alps Advisors Inc. raised its stake in shares of Nicolet Bankshares by 7.3% during the 3rd quarter. Alps Advisors Inc. now owns 3,389 shares of the company’s stock worth $456,000 after purchasing an additional 231 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in shares of Nicolet Bankshares during the 3rd quarter worth approximately $43,000. Principal Financial Group Inc. raised its stake in shares of Nicolet Bankshares by 17.7% during the 3rd quarter. Principal Financial Group Inc. now owns 11,017 shares of the company’s stock worth $1,482,000 after purchasing an additional 1,655 shares in the last quarter. AlphaQuest LLC bought a new stake in shares of Nicolet Bankshares during the 3rd quarter worth approximately $249,000. Finally, Parkside Financial Bank & Trust raised its stake in shares of Nicolet Bankshares by 45.1% during the 3rd quarter. Parkside Financial Bank & Trust now owns 589 shares of the company’s stock worth $79,000 after purchasing an additional 183 shares in the last quarter. Institutional investors own 43.06% of the company’s stock.

Analyst Upgrades and Downgrades

NIC has been the subject of several research analyst reports. Piper Sandler reiterated a “neutral” rating and issued a $140.00 price objective (up from $122.50) on shares of Nicolet Bankshares in a research report on Wednesday, July 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Nicolet Bankshares in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods upgraded Nicolet Bankshares from a “market perform” rating to an “outperform” rating and set a $160.00 price objective for the company in a research report on Monday, October 27th. Wall Street Zen raised Nicolet Bankshares from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Finally, Maxim Group upped their price target on Nicolet Bankshares from $131.00 to $161.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Nicolet Bankshares presently has an average rating of “Moderate Buy” and an average price target of $153.67.

About Nicolet Bankshares

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.