Nicolet Bankshares, Inc. (NYSE:NIC) Short Interest Update

Nicolet Bankshares, Inc. (NYSE:NIC) saw a significant growth in short interest during the month of February. As of February 15th, there was short interest totalling 121,300 shares, a growth of 21.4% from the January 31st total of 99,900 shares. Approximately 0.9% of the shares of the company are sold short. Based on an average daily volume of 48,400 shares, the days-to-cover ratio is currently 2.5 days.

Nicolet Bankshares Trading Up 0.6 %

NIC traded up $0.70 on Thursday, reaching $116.97. 61,823 shares of the company traded hands, compared to its average volume of 51,691. Nicolet Bankshares has a one year low of $75.24 and a one year high of $121.52. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The company has a market cap of $1.78 billion, a P/E ratio of 14.57 and a beta of 0.77. The firm has a fifty day simple moving average of $111.56 and a two-hundred day simple moving average of $105.67.

Nicolet Bankshares (NYSE:NIC) last announced its quarterly earnings results on Tuesday, January 21st. The company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.23. Nicolet Bankshares had a net margin of 23.83% and a return on equity of 10.95%. As a group, equities research analysts expect that Nicolet Bankshares will post 8.18 earnings per share for the current year.

Nicolet Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.96%. Nicolet Bankshares’s payout ratio is 13.95%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Nicolet Bankshares from $110.00 to $115.00 and gave the company a “market perform” rating in a research note on Thursday, January 23rd. Maxim Group increased their price target on shares of Nicolet Bankshares from $124.00 to $131.00 and gave the company a “buy” rating in a report 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 company a “neutral” rating in a report on Wednesday, January 22nd.

Insider Activity

In other news, Director Robert Bruce Atwell sold 3,975 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $118.08, for a total value of $469,368.00. Following the completion of the sale, the director now directly owns 30,317 shares in the company, valued at $3,579,831.36. This trade represents a 11.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Susan L. Merkatoris sold 1,000 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $111.27, for a total transaction of $111,270.00. Following the completion of the transaction, the director now directly owns 82,218 shares in the company, valued at approximately $9,148,396.86. The trade was a 1.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,836 shares of company stock valued at $1,821,913. 16.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Nicolet Bankshares

Institutional investors and hedge funds have recently made changes to their positions in the business. Sterling Capital Management LLC grew its position in Nicolet Bankshares by 748.7% in the fourth quarter. Sterling Capital Management LLC now owns 331 shares of the company’s stock valued at $35,000 after acquiring an additional 292 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Nicolet Bankshares during the fourth quarter worth about $61,000. New York State Teachers Retirement System acquired a new position in shares of Nicolet Bankshares in the 4th quarter valued at $128,000. Summit Investment Advisors Inc. boosted its position in Nicolet Bankshares by 11.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,410 shares of the company’s stock worth $148,000 after acquiring an additional 140 shares during the period. Finally, Quantbot Technologies LP bought a new position in shares of Nicolet Bankshares in the 3rd quarter valued at approximately $155,000. 43.06% of the stock is currently owned by hedge funds and other institutional investors.

About Nicolet Bankshares

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.