Nicolet Bankshares (NYSE:NIC) Stock: Insider Eric James Witczak Sells 600 Shares

Nicolet Bankshares Inc. (NYSE:NIC) EVP Eric Witczak sold 600 shares of Nicolet Bankshares stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $173.11, for a total value of $103,866.00. Following the completion of the sale, the executive vice president directly owned 32,724 shares in the company, valued at $5,664,851.64. This represents a 1.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Nicolet Bankshares Stock Down 0.1%

Shares of NIC opened at $175.63 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.90 and a current ratio of 0.90. Nicolet Bankshares Inc. has a one year low of $118.33 and a one year high of $180.00. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of 19.43 and a beta of 0.67. The stock has a 50 day moving average price of $168.30 and a 200 day moving average price of $158.29.

Nicolet Bankshares (NYSE:NIC) last posted its quarterly earnings data on Tuesday, October 20th. The company reported $3.15 EPS for the quarter, beating the consensus estimate of $3.07 by $0.08. The firm had revenue of $174.43 million during the quarter, compared to the consensus estimate of $173.64 million. Nicolet Bankshares had a return on equity of 11.27% and a net margin of 22.11%. Equities research analysts forecast that Nicolet Bankshares Inc. will post 12.10 earnings per share for the current fiscal year.

Nicolet Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.8%. Nicolet Bankshares’s dividend payout ratio is presently 15.93%.

Hedge Funds Weigh In On Nicolet Bankshares

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Nicolet Bankshares by 86.3% during the second quarter. BlackRock Inc. now owns 3,027,246 shares of the company’s stock worth $500,676,000 after buying an additional 1,402,419 shares during the last quarter. State Street Corp grew its holdings in Nicolet Bankshares by 65.1% in the 2nd quarter. State Street Corp now owns 1,174,560 shares of the company’s stock valued at $194,244,000 after buying an additional 463,199 shares in the last quarter. Jennison Associates LLC purchased a new stake in Nicolet Bankshares in the 1st quarter valued at $31,794,000. Dimensional Fund Advisors LP increased its stake in shares of Nicolet Bankshares by 32.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 819,274 shares of the company’s stock worth $121,756,000 after acquiring an additional 198,997 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Nicolet Bankshares in the 2nd quarter worth $30,896,000. Hedge funds and other institutional investors own 43.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Piper Sandler increased their target price on shares of Nicolet Bankshares from $194.00 to $196.00 and gave the company an “overweight” rating in a research report on Wednesday, October 21st. Weiss Ratings upgraded shares of Nicolet Bankshares from a “buy (a)” rating to a “buy (a+)” rating in a research report on Wednesday, November 4th. Keefe, Bruyette & Woods boosted their price target on shares of Nicolet Bankshares from $175.00 to $185.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Finally, Stephens upped their price objective on shares of Nicolet Bankshares from $185.00 to $190.00 and gave the company an “equal weight” rating in a research note on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.80.

About Nicolet Bankshares

Nicolet Bankshares, Inc. is a bank holding company headquartered in Green Bay, Wisconsin, and the parent of Nicolet National Bank. The bank was founded in 2000 and has expanded through acquisitions and organic growth. Nicolet National Bank provides commercial and consumer banking services, including business lending, deposit accounts, mortgages and other personal banking products. It also offers trust, wealth management and investment services. The company serves customers across Wisconsin, Michigan’s Upper Peninsula and parts of Minnesota through its branch network and digital banking services.