Nicolet Bankshares, Inc. (NYSE:NIC) Short Interest Down 24.2% in December

Nicolet Bankshares, Inc. (NYSE:NIC - Get Free Report) was the recipient of a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 56,200 shares, a drop of 24.2% from the November 30th total of 74,100 shares. Based on an average trading volume of 49,800 shares, the days-to-cover ratio is presently 1.1 days. Currently, 0.4% of the company's stock are sold short.

Analyst Ratings Changes

NIC has been the subject of several recent research reports. Keefe, Bruyette & Woods boosted their target price on shares of Nicolet Bankshares from $100.00 to $110.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. Maxim Group raised their target price on Nicolet Bankshares from $120.00 to $124.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Nicolet Bankshares has a consensus rating of "Hold" and an average target price of $112.00.

Nicolet Bankshares Stock Performance

NIC stock traded down $2.35 during mid-day trading on Friday, reaching $104.61. 30,849 shares of the stock traded hands, compared to its average volume of 43,518. The firm has a market capitalization of $1.59 billion, a PE ratio of 13.31 and a beta of 0.76. The business has a 50-day moving average of $108.57 and a two-hundred day moving average of $97.63. Nicolet Bankshares has a 52 week low of $73.00 and a 52 week high of $116.17. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.14.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last released its earnings results on Tuesday, October 15th. The company reported $2.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.91 by $0.13. Nicolet Bankshares had a return on equity of 10.56% and a net margin of 23.35%. The firm had revenue of $91.24 million for the quarter, compared to analyst estimates of $86.50 million. As a group, equities analysts predict that Nicolet Bankshares will post 7.61 EPS for the current fiscal year.

Nicolet Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.12 annualized dividend and a dividend yield of 1.07%. Nicolet Bankshares's payout ratio is 14.25%.

Insiders Place Their Bets

In other news, EVP Brad Vincent Hutjens sold 1,079 shares of the company's stock in a transaction on Friday, October 25th. The shares were sold at an average price of $102.85, for a total value of $110,975.15. Following the transaction, the executive vice president now directly owns 26,674 shares of the company's stock, valued at approximately $2,743,420.90. This represents a 3.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert Bruce Atwell sold 3,446 shares of Nicolet Bankshares stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $113.00, for a total value of $389,398.00. Following the sale, the director now directly owns 32,831 shares of the company's stock, valued at approximately $3,709,903. The trade was a 9.50 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 88,507 shares of company stock worth $9,626,332. 16.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nicolet Bankshares

Several hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in shares of Nicolet Bankshares by 111.7% in the third quarter. JPMorgan Chase & Co. now owns 32,818 shares of the company's stock valued at $3,138,000 after purchasing an additional 17,314 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Nicolet Bankshares in the 3rd quarter valued at $264,000. Geode Capital Management LLC lifted its holdings in shares of Nicolet Bankshares by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 303,391 shares of the company's stock worth $29,019,000 after acquiring an additional 4,911 shares during the period. Barclays PLC boosted its position in shares of Nicolet Bankshares by 170.7% during the 3rd quarter. Barclays PLC now owns 23,978 shares of the company's stock valued at $2,291,000 after acquiring an additional 15,121 shares in the last quarter. Finally, State Street Corp increased its stake in Nicolet Bankshares by 3.7% in the third quarter. State Street Corp now owns 381,755 shares of the company's stock valued at $36,507,000 after acquiring an additional 13,772 shares during the period. 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.