Nicolet Bankshares (NYSE:NIC) Shares Gap Up – What’s Next?

Shares of Nicolet Bankshares, Inc. (NYSE:NIC) gapped up prior to trading on Friday . The stock had previously closed at $93.58, but opened at $96.69. Nicolet Bankshares shares last traded at $96.41, with a volume of 1,649 shares traded.

Wall Street Analysts Forecast Growth

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

Nicolet Bankshares Stock Up 2.2 %

The company has a market capitalization of $1.43 billion, a PE ratio of 13.54 and a beta of 0.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.96 and a current ratio of 0.96. The stock’s 50 day moving average is $93.74 and its 200 day moving average is $86.94.

Nicolet Bankshares (NYSE:NIC) last posted its earnings results on Tuesday, July 16th. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.18. Nicolet Bankshares had a net margin of 21.13% and a return on equity of 10.20%. The business had revenue of $85.43 million for the quarter, compared to analysts’ expectations of $81.40 million. On average, sell-side analysts anticipate that Nicolet Bankshares, Inc. will post 7.3 EPS for the current fiscal year.

Nicolet Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend was Tuesday, September 3rd. Nicolet Bankshares’s payout ratio is 16.23%.

Insider Transactions at Nicolet Bankshares

In related news, EVP Eric James Witczak sold 15,000 shares of the stock in a transaction on 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 transaction, the executive vice president now owns 26,498 shares of the company’s stock, valued at approximately $2,575,075.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Nicolet Bankshares news, EVP Eric James Witczak sold 15,000 shares of the firm’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $97.18, for a total value of $1,457,700.00. Following the sale, the executive vice president now owns 26,498 shares of the company’s stock, valued at $2,575,075.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael E. Daniels sold 8,003 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $98.98, for a total transaction of $792,136.94. Following the completion of the sale, the chief executive officer now directly owns 72,402 shares in the company, valued at approximately $7,166,349.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,003 shares of company stock valued at $3,727,087 in the last quarter. Insiders own 16.40% of the company’s stock.

Institutional Investors Weigh In On Nicolet Bankshares

Several institutional investors and hedge funds have recently modified their holdings of the stock. Anchor Capital Advisors LLC increased its stake in Nicolet Bankshares by 0.8% during the 1st quarter. Anchor Capital Advisors LLC now owns 21,936 shares of the company’s stock valued at $1,886,000 after purchasing an additional 167 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Nicolet Bankshares by 0.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 45,556 shares of the company’s stock valued at $3,783,000 after purchasing an additional 192 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Nicolet Bankshares by 4.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,262 shares of the company’s stock valued at $883,000 after purchasing an additional 469 shares in the last quarter. EntryPoint Capital LLC increased its stake in Nicolet Bankshares by 97.3% during the 1st quarter. EntryPoint Capital LLC now owns 1,101 shares of the company’s stock valued at $95,000 after purchasing an additional 543 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Nicolet Bankshares by 9.9% during the 2nd quarter. Principal Financial Group Inc. now owns 6,167 shares of the company’s stock valued at $512,000 after purchasing an additional 555 shares in the last quarter. 43.06% of the stock is owned by hedge funds and other institutional investors.

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.