Nicolet Bankshares (NYSE:NIC) Issues Earnings Results

Nicolet Bankshares (NYSE:NIC) issued its quarterly earnings results on Tuesday. The company reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.14, FiscalAI reports. The business had revenue of $177.75 million for the quarter, compared to the consensus estimate of $171.93 million. Nicolet Bankshares had a net margin of 21.89% and a return on equity of 11.48%.

Nicolet Bankshares Price Performance

Shares of NIC stock traded up $0.83 during trading hours on Tuesday, hitting $167.85. The stock had a trading volume of 225,460 shares, compared to its average volume of 231,135. The stock’s 50-day moving average price is $151.17 and its two-hundred day moving average price is $147.96. Nicolet Bankshares has a one year low of $114.11 and a one year high of $173.48. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 19.68 and a beta of 0.65. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.91 and a quick ratio of 0.91.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NIC. Mercer Global Advisors Inc. ADV raised its stake in Nicolet Bankshares by 4.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 8,153 shares of the company’s stock valued at $989,000 after purchasing an additional 363 shares in the last quarter. Mendon Capital Advisors Corp increased its holdings in shares of Nicolet Bankshares by 1.0% in the 4th quarter. Mendon Capital Advisors Corp now owns 20,000 shares of the company’s stock worth $2,426,000 after buying an additional 200 shares during the last quarter. Voloridge Investment Management LLC raised its position in shares of Nicolet Bankshares by 812.6% during the 4th quarter. Voloridge Investment Management LLC now owns 48,542 shares of the company’s stock valued at $5,888,000 after buying an additional 43,223 shares in the last quarter. Tudor Investment Corp ET AL lifted its holdings in shares of Nicolet Bankshares by 196.0% in the 4th quarter. Tudor Investment Corp ET AL now owns 84,708 shares of the company’s stock valued at $10,275,000 after acquiring an additional 56,086 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC lifted its holdings in shares of Nicolet Bankshares by 80.8% in the 4th quarter. Susquehanna Fundamental Investments LLC now owns 11,662 shares of the company’s stock valued at $1,415,000 after acquiring an additional 5,213 shares during the last quarter. 43.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Hovde Group decreased their price objective on shares of Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Raymond James Financial began coverage on Nicolet Bankshares in a report on Tuesday, June 23rd. They set a “market perform” rating on the stock. Weiss Ratings downgraded Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Piper Sandler dropped their price objective on Nicolet Bankshares from $185.00 to $183.00 and set an “overweight” rating for the company in a research note on Wednesday, April 22nd. Finally, Zacks Research raised Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Nicolet Bankshares presently has an average rating of “Moderate Buy” and an average price target of $176.50.

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.