Nicolet Bankshares (NYSE:NIC) Releases Quarterly Earnings Results, Beats Expectations By $0.18 EPS

Nicolet Bankshares (NYSE:NIC) released its quarterly earnings data on Tuesday. The company reported $2.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.18, FiscalAI reports. The business had revenue of $80.89 million for the quarter, compared to analysts’ expectations of $79.67 million. Nicolet Bankshares had a return on equity of 12.08% and a net margin of 26.39%.

Nicolet Bankshares Stock Up 0.1%

Shares of NIC opened at $131.62 on Wednesday. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 14.09 and a beta of 0.78. Nicolet Bankshares has a 52 week low of $97.90 and a 52 week high of $141.92. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a fifty day moving average of $126.37 and a 200-day moving average of $129.24.

Nicolet Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Monday, March 2nd. Nicolet Bankshares’s dividend payout ratio (DPR) is 13.70%.

Insider Buying and Selling at Nicolet Bankshares

In related news, Director Robert J. Weyers acquired 3,000 shares of the stock in a transaction dated Thursday, October 30th. The shares were purchased at an average price of $115.73 per share, for a total transaction of $347,190.00. Following the transaction, the director owned 26,250 shares in the company, valued at $3,037,912.50. This represents a 12.90% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Hubert Phillip Moore, Jr. bought 240 shares of the business’s stock in a transaction dated Thursday, October 30th. The stock was purchased at an average price of $115.84 per share, for a total transaction of $27,801.60. Following the acquisition, the chief financial officer directly owned 32,947 shares of the company’s stock, valued at approximately $3,816,580.48. The trade was a 0.73% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders purchased 3,370 shares of company stock worth $390,760. 14.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nicolet Bankshares

A number of institutional investors have recently added to or reduced their stakes in NIC. Boston Partners boosted its stake in Nicolet Bankshares by 40.6% during the third quarter. Boston Partners now owns 199,396 shares of the company’s stock worth $26,789,000 after buying an additional 57,536 shares during the period. Qube Research & Technologies Ltd grew its holdings in Nicolet Bankshares by 71.6% during the third quarter. Qube Research & Technologies Ltd now owns 49,468 shares of the company’s stock worth $6,653,000 after acquiring an additional 20,640 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Nicolet Bankshares by 6.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 29,778 shares of the company’s stock valued at $3,245,000 after buying an additional 1,922 shares during the period. Swiss National Bank grew its stake in Nicolet Bankshares by 0.8% in the 3rd quarter. Swiss National Bank now owns 26,300 shares of the company’s stock valued at $3,537,000 after acquiring an additional 200 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Nicolet Bankshares by 12.8% during the third quarter. JPMorgan Chase & Co. now owns 23,889 shares of the company’s stock valued at $3,213,000 after purchasing an additional 2,709 shares in the last quarter. 43.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NIC shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Nicolet Bankshares in a research note on Wednesday, October 8th. Piper Sandler restated a “neutral” rating on shares of Nicolet Bankshares in a research note on Wednesday. Zacks Research upgraded Nicolet Bankshares from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 30th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Nicolet Bankshares from $160.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Nicolet Bankshares presently has a consensus rating of “Buy” and a consensus price target of $155.33.

Nicolet Bankshares Company Profile

Nicolet Bankshares, Inc is a bank holding company headquartered in Green Bay, Wisconsin. Through its subsidiary, Nicolet National Bank, it provides a range of commercial and consumer banking services to businesses, individuals and nonprofit organizations across northeastern Wisconsin and the Upper Peninsula of Michigan. The company’s branch network, digital banking platform and commercial lending centers support its focus on community banking and regional growth.

The company offers deposit products such as checking, savings and money market accounts, alongside consumer and commercial lending solutions.