Nicolet Bankshares (NYSE:NIC) Issues Earnings Results

by · The Markets Daily

Nicolet Bankshares (NYSE:NIC – Get Free Report) posted its earnings results on Tuesday. The company reported $3.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.07 by $0.08, FiscalAI reports. The firm had revenue of $174.43 million during the quarter, compared to analysts’ expectations of $173.64 million. Nicolet Bankshares had a net margin of 21.77% and a return on equity of 11.36%.

Nicolet Bankshares Stock Performance

Shares of NIC stock traded up $2.46 during trading on Tuesday, reaching $165.04. The company had a trading volume of 247,636 shares, compared to its average volume of 210,298. The firm’s 50 day simple moving average is $168.92 and its two-hundred day simple moving average is $159.42. Nicolet Bankshares has a one year low of $114.11 and a one year high of $180.00. 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 company has a market capitalization of $3.46 billion, a PE ratio of 18.73 and a beta of 0.64.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NIC. Zacks Research upgraded shares of Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Keefe, Bruyette & Woods lifted their price objective on shares of Nicolet Bankshares from $175.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Piper Sandler set a $194.00 price objective on shares of Nicolet Bankshares in a report on Wednesday, July 22nd. Weiss Ratings upgraded shares of Nicolet Bankshares from a “buy (a)” rating to a “buy (a+)” rating in a report on Thursday, October 8th. Finally, Raymond James Financial started coverage on shares of Nicolet Bankshares in a research report on Tuesday, June 23rd. They set a “market perform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.00.

Get Our Latest Stock Report on NIC

Insider Buying and Selling

In other news, EVP Eric Witczak sold 342 shares of Nicolet Bankshares stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $171.96, for a total value of $58,810.32. Following the transaction, the executive vice president owned 33,288 shares of the company’s stock, valued at $5,724,204.48. This trade represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Atwell sold 2,662 shares of Nicolet Bankshares stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $170.24, for a total transaction of $453,178.88. Following the completion of the transaction, the director directly owned 34,483 shares in the company, valued at approximately $5,870,385.92. This represents a 7.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,219 shares of company stock valued at $715,976 in the last ninety days. Company insiders own 7.20% of the company’s stock.

About Nicolet Bankshares

(Get Free Report)

Nicolet Bankshares, Inc is a bank holding company headquartered in Green Bay, Wisconsin. Through its principal subsidiary, Nicolet National Bank, the company provides banking and financial services to individuals, families, businesses and organizations.

Nicolet National Bank offers commercial and consumer lending, deposit accounts, residential and commercial real estate financing, treasury management and other business banking services. Its offerings also include wealth management, trust and investment services, mortgage banking and related financial solutions.

Founded in 2000, Nicolet has built a community-banking franchise serving customers primarily in Wisconsin and neighboring market areas.

See Also