Short Interest in Nicolet Bankshares, Inc. (NYSE:NIC) Increases By 30.9%

Nicolet Bankshares, Inc. (NYSE:NIC) saw a large increase in short interest in March. As of March 15th, there was short interest totalling 173,500 shares, an increase of 30.9% from the February 28th total of 132,500 shares. Based on an average daily trading volume, of 65,400 shares, the short-interest ratio is currently 2.7 days. Currently, 1.3% of the shares of the stock are sold short.

Nicolet Bankshares Trading Up 0.7 %

NYSE:NIC traded up $0.74 on Tuesday, hitting $109.70. The stock had a trading volume of 49,536 shares, compared to its average volume of 50,387. The company has a fifty day moving average price of $114.41 and a two-hundred day moving average price of $107.93. Nicolet Bankshares has a 1-year low of $75.24 and a 1-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 stock has a market cap of $1.67 billion, a price-to-earnings ratio of 13.66 and a beta of 0.76.

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

Nicolet Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.02%. The ex-dividend date was Monday, March 10th. Nicolet Bankshares’s dividend payout ratio (DPR) is presently 13.95%.

Wall Street Analysts Forecast Growth

NIC has been the topic of a number of research reports. Keefe, Bruyette & Woods raised their target price on shares of Nicolet Bankshares from $110.00 to $115.00 and gave the stock a “market perform” rating in a research note on Thursday, January 23rd. Piper Sandler lifted their price objective on Nicolet Bankshares from $119.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Finally, Maxim Group boosted their price objective on Nicolet Bankshares from $124.00 to $131.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd.

Insiders Place Their Bets

In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 3,975 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $118.08, for a total value of $469,368.00. Following the transaction, the director now owns 30,317 shares in the company, valued at approximately $3,579,831.36. This trade represents a 11.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Susan L. Merkatoris sold 1,000 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $111.27, for a total transaction of $111,270.00. Following the sale, the director now directly owns 82,218 shares of the company’s stock, valued at $9,148,396.86. The trade was a 1.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 8,527 shares of company stock worth $996,674. Corporate insiders own 16.40% of the company’s stock.

Institutional Trading of Nicolet Bankshares

A number of hedge funds and other institutional investors have recently modified their holdings of NIC. Charles Schwab Investment Management Inc. lifted its position in Nicolet Bankshares by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 116,409 shares of the company’s stock valued at $11,132,000 after buying an additional 3,650 shares during the last quarter. FMR LLC lifted its holdings in shares of Nicolet Bankshares by 0.5% in the 3rd quarter. FMR LLC now owns 589,766 shares of the company’s stock worth $56,399,000 after acquiring an additional 2,654 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Nicolet Bankshares during the 3rd quarter worth approximately $155,000. BNP Paribas Financial Markets increased its holdings in Nicolet Bankshares by 31.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,269 shares of the company’s stock valued at $408,000 after purchasing an additional 1,010 shares during the last quarter. Finally, PDT Partners LLC purchased a new stake in Nicolet Bankshares in the third quarter valued at approximately $412,000. 43.06% of the stock is owned by institutional investors and hedge funds.

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.