Nicolet Bankshares (NYSE:NIC) Releases Earnings Results, Beats Expectations By $0.12 EPS
by Renee Jackson · The Cerbat GemNicolet Bankshares (NYSE:NIC – Get Free Report) released its earnings results on Tuesday. The company reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.63 by $0.12, FiscalAI reports. The company had revenue of $134.85 million for the quarter, compared to analysts’ expectations of $129.74 million. Nicolet Bankshares had a net margin of 26.98% and a return on equity of 12.49%.
Nicolet Bankshares Price Performance
Shares of NYSE NIC traded down $1.27 during midday trading on Tuesday, reaching $154.50. 139,147 shares of the stock traded hands, compared to its average volume of 195,899. The company’s 50 day moving average is $151.84 and its 200 day moving average is $137.30. Nicolet Bankshares has a one year low of $111.21 and a one year high of $163.11. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $3.30 billion, a PE ratio of 15.76 and a beta of 0.74.
Insiders Place Their Bets
In related news, Director Robert Bruce Atwell sold 3,309 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $149.82, for a total transaction of $495,754.38. Following the sale, the director owned 34,054 shares of the company’s stock, valued at $5,101,970.28. This represents a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 13,036 shares of company stock valued at $1,992,022 in the last quarter. Insiders own 7.20% of the company’s stock.
Institutional Trading of Nicolet Bankshares
A number of large investors have recently made changes to their positions in the business. Franklin Resources Inc. lifted its holdings in shares of Nicolet Bankshares by 186.5% in the 3rd quarter. Franklin Resources Inc. now owns 7,016 shares of the company’s stock valued at $944,000 after acquiring an additional 4,567 shares during the last quarter. Odyssean LLC bought a new stake in Nicolet Bankshares during the fourth quarter worth approximately $746,000. State of Wisconsin Investment Board raised its position in Nicolet Bankshares by 21.1% during the fourth quarter. State of Wisconsin Investment Board now owns 4,328 shares of the company’s stock valued at $525,000 after purchasing an additional 754 shares during the period. EntryPoint Capital LLC purchased a new stake in Nicolet Bankshares during the fourth quarter valued at approximately $437,000. Finally, Sei Investments Co. bought a new stake in shares of Nicolet Bankshares in the 3rd quarter valued at approximately $420,000. 43.06% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
NIC has been the subject of several research analyst reports. Zacks Research upgraded Nicolet Bankshares from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Nicolet Bankshares in a report on Thursday, January 22nd. Maxim Group upped their price target on Nicolet Bankshares from $161.00 to $173.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Piper Sandler raised shares of Nicolet Bankshares from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $148.00 to $185.00 in a report on Thursday, February 19th. Finally, Hovde Group reiterated an “outperform” rating and set a $190.00 price objective on shares of Nicolet Bankshares in a research report on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $179.50.
Read Our Latest Analysis on Nicolet Bankshares
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.