Nicolet Bankshares (NYSE:NIC) Director Sells $618,081.75 in Stock

Nicolet Bankshares Inc. (NYSE:NIC) Director Robert Atwell sold 3,575 shares of the firm’s stock in a transaction on Friday, November 6th. The shares were sold at an average price of $172.89, for a total value of $618,081.75. Following the transaction, the director directly owned 34,483 shares of the company’s stock, valued at $5,961,765.87. This represents a 9.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Robert Bruce Atwell also recently made the following trade(s):

• On Friday, October 23rd, Robert Atwell sold 3,556 shares of Nicolet Bankshares stock. The shares were sold at an average price of $171.22, for a total transaction of $608,858.32.

Nicolet Bankshares Stock Down 0.1%

NYSE:NIC opened at $175.39 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.90 and a quick ratio of 0.90. The firm’s 50-day moving average price is $168.50 and its 200-day moving average price is $158.46. The company has a market capitalization of $3.65 billion, a PE ratio of 19.40 and a beta of 0.67. Nicolet Bankshares Inc. has a 1-year low of $118.33 and a 1-year high of $180.00.

Nicolet Bankshares (NYSE:NIC) last issued its quarterly earnings results on Tuesday, October 20th. The company reported $3.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.07 by $0.08. Nicolet Bankshares had a net margin of 22.11% and a return on equity of 11.27%. The company had revenue of $174.43 million during the quarter, compared to analysts’ expectations of $173.64 million. On average, equities analysts predict that Nicolet Bankshares Inc. will post 12.10 EPS for the current fiscal year.

Nicolet Bankshares Announces Dividend

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. GW&K Investment Management LLC purchased a new stake in shares of Nicolet Bankshares during the third quarter valued at approximately $5,815,000. Boston Partners increased its position in shares of Nicolet Bankshares by 9.5% during the third quarter. Boston Partners now owns 340,855 shares of the company’s stock valued at $55,592,000 after acquiring an additional 29,536 shares in the last quarter. Public Sector Pension Investment Board increased its position in shares of Nicolet Bankshares by 67.1% during the third quarter. Public Sector Pension Investment Board now owns 112,238 shares of the company’s stock valued at $18,296,000 after acquiring an additional 45,085 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in Nicolet Bankshares by 67.1% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 4,800 shares of the company’s stock worth $783,000 after acquiring an additional 1,928 shares during the last quarter. Finally, Maryland State Retirement & Pension System raised its holdings in Nicolet Bankshares by 55.0% in the 3rd quarter. Maryland State Retirement & Pension System now owns 4,437 shares of the company’s stock worth $723,000 after acquiring an additional 1,575 shares during the last quarter. 43.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on NIC. Keefe, Bruyette & Woods upped their price target on Nicolet Bankshares from $175.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Weiss Ratings raised Nicolet Bankshares from a “buy (a)” rating to a “buy (a+)” rating in a report on Wednesday, November 4th. Stephens increased their target price on Nicolet Bankshares from $185.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Friday, October 23rd. Finally, Piper Sandler increased their target price on Nicolet Bankshares from $194.00 to $196.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $184.80.

Nicolet Bankshares Company Profile

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.