Nicolet Bankshares (NYSE:NIC) Hits New 1-Year High – Should You Buy?

Nicolet Bankshares, Inc. (NYSE:NIC) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $104.60 and last traded at $104.60, with a volume of 71473 shares changing hands. The stock had previously closed at $98.91.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NIC. Piper Sandler boosted their target price on shares of Nicolet Bankshares from $86.00 to $104.00 and gave the stock a “neutral” rating in a report on Wednesday, July 17th. Stephens lifted their price objective on Nicolet Bankshares from $90.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $100.00.

Nicolet Bankshares Stock Up 5.8 %

The company has a market cap of $1.56 billion, a price-to-earnings ratio of 15.56 and a beta of 0.76. The stock’s 50-day moving average is $94.16 and its 200-day moving average is $87.25. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.15.

Nicolet Bankshares (NYSE:NIC) last announced its quarterly earnings data on Tuesday, July 16th. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.18. The firm had revenue of $85.43 million for the quarter, compared to analyst estimates of $81.40 million. Nicolet Bankshares had a net margin of 21.13% and a return on equity of 10.20%. On average, analysts anticipate that Nicolet Bankshares, Inc. will post 7.3 earnings per share for the current fiscal year.

Nicolet Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.28 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.12 annualized dividend and a dividend yield of 1.07%. Nicolet Bankshares’s dividend payout ratio is 17.26%.

Insider Buying and Selling at Nicolet Bankshares

In other news, EVP Eric James Witczak sold 15,000 shares of the business’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $97.18, for a total transaction of $1,457,700.00. Following the completion of the sale, the executive vice president now directly owns 26,498 shares of the company’s stock, valued at $2,575,075.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Nicolet Bankshares news, EVP Brad Vincent Hutjens sold 10,000 shares of Nicolet Bankshares stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $99.00, for a total transaction of $990,000.00. Following the transaction, the executive vice president now owns 26,642 shares of the company’s stock, valued at $2,637,558. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Eric James Witczak sold 15,000 shares of the business’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $97.18, for a total value of $1,457,700.00. Following the completion of the transaction, the executive vice president now directly owns 26,498 shares in the company, valued at approximately $2,575,075.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,003 shares of company stock valued at $3,727,087. Corporate insiders own 16.40% of the company’s stock.

Hedge Funds Weigh In On Nicolet Bankshares

Several institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC lifted its holdings in Nicolet Bankshares by 2,480.2% during the first quarter. Janus Henderson Group PLC now owns 163,919 shares of the company’s stock valued at $14,094,000 after purchasing an additional 157,566 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Nicolet Bankshares by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 587,488 shares of the company’s stock worth $48,783,000 after buying an additional 16,952 shares in the last quarter. Sugar Maple Asset Management LLC bought a new stake in Nicolet Bankshares during the first quarter valued at $1,041,000. Vanguard Group Inc. grew its position in Nicolet Bankshares by 1.2% during the first quarter. Vanguard Group Inc. now owns 705,938 shares of the company’s stock worth $60,704,000 after buying an additional 8,213 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new position in Nicolet Bankshares in the 1st quarter worth about $483,000. Institutional investors own 43.06% of the company’s stock.

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.