Nicolet Bankshares (NYSE:NIC) Reaches New 1-Year High - Here's What Happened

Nicolet Bankshares, Inc. (NYSE:NIC - Get Free Report) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $116.58 and last traded at $116.22, with a volume of 1800 shares. The stock had previously closed at $115.93.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods upped their price objective on Nicolet Bankshares from $110.00 to $115.00 and gave the company a "market perform" rating in a research note on Thursday, January 23rd. Piper Sandler upped their price target on Nicolet Bankshares from $119.00 to $120.00 and gave the company a "neutral" rating in a research report on Wednesday, January 22nd. Finally, Maxim Group lifted their price objective on Nicolet Bankshares from $124.00 to $131.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $119.00.

Nicolet Bankshares Price Performance

The stock has a fifty day moving average of $108.42 and a two-hundred day moving average of $102.33. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 14.70 and a beta of 0.77.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last released its quarterly earnings results on Tuesday, January 21st. The company reported $2.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.23. Nicolet Bankshares had a return on equity of 10.95% and a net margin of 23.83%. As a group, equities research analysts forecast that Nicolet Bankshares, Inc. will post 8.1 earnings per share for the current year.

Nicolet Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date was Monday, December 2nd. Nicolet Bankshares's dividend payout ratio is currently 13.95%.

Insider Buying and Selling

In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 8,945 shares of Nicolet Bankshares stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $113.00, for a total transaction of $1,010,785.00. Following the completion of the sale, the director now owns 32,831 shares of the company's stock, valued at approximately $3,709,903. The trade was a 21.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brad Vincent Hutjens sold 4,500 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $110.90, for a total value of $499,050.00. Following the completion of the transaction, the executive vice president now directly owns 26,674 shares in the company, valued at approximately $2,958,146.60. This trade represents a 14.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,004 shares of company stock worth $5,423,938 in the last quarter. Insiders own 16.40% of the company's stock.

Institutional Investors Weigh In On Nicolet Bankshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NIC. Los Angeles Capital Management LLC acquired a new stake in Nicolet Bankshares in the third quarter worth $528,000. Barclays PLC raised its stake in Nicolet Bankshares by 170.7% during the 3rd quarter. Barclays PLC now owns 23,978 shares of the company's stock worth $2,291,000 after buying an additional 15,121 shares during the period. State Street Corp lifted its holdings in Nicolet Bankshares by 3.7% during the third quarter. State Street Corp now owns 381,755 shares of the company's stock worth $36,507,000 after acquiring an additional 13,772 shares in the last quarter. JPMorgan Chase & Co. grew its stake in 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 acquiring an additional 17,314 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Nicolet Bankshares by 1.6% in the third 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 in the last quarter. 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.