Nicolet Bankshares (NYSE:NIC) Releases Earnings Results, Beats Expectations By $0.14 EPS
Nicolet Bankshares (NYSE:NIC) reported quarterly earnings of $2.10 EPS, exceeding expectations by $0.14. The company achieved a net margin of 23.83% and a return on equity of 10.95%. The stock traded at $105.49, with a market cap of $1.60 billion. A quarterly dividend of $0.28 per share was recently paid. Analysts have raised price targets for the stock, with ratings ranging from "market perform" to "buy." Insiders have sold shares, reducing their ownership slightly. Overall, the company shows strong financial performance despite recent insider selling.
Nicolet Bankshares (NYSE:NIC - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported $2.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.96 by $0.14, Zacks reports. Nicolet Bankshares had a return on equity of 10.95% and a net margin of 23.83%.
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Nicolet Bankshares Stock Performance
NIC traded up $1.87 during midday trading on Tuesday, reaching $105.49. The company had a trading volume of 49,572 shares, compared to its average volume of 52,016. The business has a 50-day moving average of $112.64 and a two-hundred day moving average of $108.41. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. Nicolet Bankshares has a 1 year low of $75.24 and a 1 year high of $121.52. The company has a market cap of $1.60 billion, a P/E ratio of 13.14 and a beta of 0.69.
Nicolet Bankshares Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a dividend of $0.28 per share. The ex-dividend date was Monday, March 10th. This represents a $1.12 annualized dividend and a yield of 1.06%. Nicolet Bankshares's dividend payout ratio (DPR) is presently 13.95%.
Insiders Place Their Bets
In related news, Director Susan L. Merkatoris sold 300 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $115.26, for a total transaction of $34,578.00. Following the completion of the transaction, the director now owns 81,918 shares in the company, valued at approximately $9,441,868.68. This represents a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Bruce Atwell sold 3,975 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $118.08, for a total transaction of $469,368.00. Following the transaction, the director now directly owns 30,317 shares of the company's stock, valued at $3,579,831.36. This trade represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,527 shares of company stock worth $996,674. Company insiders own 16.40% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently commented on NIC shares. Keefe, Bruyette & Woods raised their price target on Nicolet Bankshares from $110.00 to $115.00 and gave the stock a "market perform" rating in a research note on Thursday, January 23rd. Maxim Group lifted their target price on shares of Nicolet Bankshares from $124.00 to $131.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Finally, Piper Sandler increased their price target on shares of Nicolet Bankshares from $119.00 to $120.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd.
Check Out Our Latest Report on NIC
About Nicolet Bankshares
(Get Free Report)Nicolet Bankshares, Inc operates as the bank holding company for Nicolet National Bank that provides banking products and services for businesses and individuals in Wisconsin and Michigan. The company accepts checking, savings, and money market accounts; various certificates of deposit; and individual retirement accounts.
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