Nicolet Bankshares (NYSE:NIC) Issues Earnings Results, Beats Expectations By $0.13 EPS

Nicolet Bankshares (NYSE:NIC) issued its quarterly earnings results on Tuesday. The company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.13, reports. Nicolet Bankshares had a return on equity of 10.20% and a net margin of 21.13%. The firm had revenue of $91.24 million for the quarter, compared to analyst estimates of $86.50 million.

Nicolet Bankshares Stock Performance

Shares of NYSE:NIC opened at $104.51 on Thursday. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 16.10 and a beta of 0.76. The business’s fifty day moving average price is $94.51 and its two-hundred day moving average price is $87.37. Nicolet Bankshares has a fifty-two week low of $63.58 and a fifty-two week high of $104.60. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.96 and a quick ratio of 0.96.

Nicolet Bankshares Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insider Activity

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Janus Henderson Group PLC raised its position in shares of Nicolet Bankshares by 2,480.2% during the first quarter. Janus Henderson Group PLC now owns 163,919 shares of the company’s stock worth $14,094,000 after acquiring an additional 157,566 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Nicolet Bankshares by 3.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 587,488 shares of the company’s stock valued at $48,783,000 after purchasing an additional 16,952 shares during the last quarter. Sugar Maple Asset Management LLC bought a new stake in shares of Nicolet Bankshares during the first quarter worth approximately $1,041,000. Vanguard Group Inc. lifted its holdings in Nicolet Bankshares by 1.2% in the first quarter. Vanguard Group Inc. now owns 705,938 shares of the company’s stock valued at $60,704,000 after buying an additional 8,213 shares during the period. Finally, Principal Financial Group Inc. bought a new position in Nicolet Bankshares in the first quarter valued at approximately $483,000. Institutional investors and hedge funds 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.