Analysts Set Nicolet Bankshares Inc. (NYSE:NIC) Price Target at $183.00

Nicolet Bankshares Inc. (NYSE:NIC) has been given an average recommendation of “Moderate Buy” by the seven research firms that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $183.00.

A number of research analysts have recently weighed in on the company. Weiss Ratings downgraded Nicolet Bankshares from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, August 31st. Zacks Research raised Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Raymond James Financial assumed coverage on Nicolet Bankshares in a report on Tuesday, June 23rd. They set a “market perform” rating on the stock. Keefe, Bruyette & Woods boosted their target price on Nicolet Bankshares from $175.00 to $185.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Finally, Piper Sandler set a $194.00 price target on shares of Nicolet Bankshares in a report on Wednesday, July 22nd.

Insider Activity

In other Nicolet Bankshares news, EVP Eric Witczak sold 342 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $171.96, for a total value of $58,810.32. Following the completion of the sale, the executive vice president directly owned 33,288 shares in the company, valued at $5,724,204.48. This represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Atwell sold 2,662 shares of the firm’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $170.24, for a total value of $453,178.88. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,219 shares of company stock valued at $715,976 over the last 90 days. Corporate insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Nicolet Bankshares

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. PDT Partners LLC increased its position in Nicolet Bankshares by 1.8% in the 2nd quarter. PDT Partners LLC now owns 5,572 shares of the company’s stock valued at $688,000 after buying an additional 100 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Nicolet Bankshares by 4.9% in the fourth quarter. ProShare Advisors LLC now owns 2,424 shares of the company’s stock worth $294,000 after acquiring an additional 113 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in Nicolet Bankshares by 0.7% in the second quarter. Squarepoint Ops LLC now owns 16,960 shares of the company’s stock worth $2,805,000 after acquiring an additional 119 shares in the last quarter. LPL Financial LLC grew its stake in Nicolet Bankshares by 4.6% in the fourth quarter. LPL Financial LLC now owns 2,836 shares of the company’s stock valued at $344,000 after acquiring an additional 126 shares during the period. Finally, Bank of Montreal Can grew its stake in Nicolet Bankshares by 0.6% in the fourth quarter. Bank of Montreal Can now owns 23,181 shares of the company’s stock valued at $2,829,000 after acquiring an additional 147 shares during the period. 43.06% of the stock is currently owned by institutional investors and hedge funds.

Nicolet Bankshares Stock Up 0.2%

Shares of NYSE:NIC opened at $170.54 on Tuesday. 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 stock has a market cap of $3.57 billion, a price-to-earnings ratio of 19.36 and a beta of 0.64. The company has a 50 day moving average of $170.78 and a 200-day moving average of $156.48. Nicolet Bankshares has a one year low of $114.11 and a one year high of $180.00.

Nicolet Bankshares (NYSE:NIC) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $2.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.14. Nicolet Bankshares had a net margin of 21.77% and a return on equity of 11.36%. The firm had revenue of $177.75 million for the quarter, compared to analysts’ expectations of $171.93 million. On average, sell-side analysts forecast that Nicolet Bankshares will post 12.3 earnings per share for the current year.

Nicolet Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 1st. Nicolet Bankshares’s payout ratio is presently 16.35%.

Nicolet Bankshares Company Profile

Nicolet Bankshares, Inc is the bank holding company for Nicolet National Bank, a full-service community bank headquartered in Green Bay, Wisconsin. The bank provides financial services to businesses, individuals and institutions through a relationship-focused banking model.

Nicolet National Bank offers commercial and personal deposit accounts, business and consumer lending, mortgage services, treasury management and cash-management solutions. Its services also include wealth management, trust and investment services, helping customers manage borrowing, day-to-day finances and long-term financial goals.

Founded in 2000, Nicolet has expanded its presence across Wisconsin and into Michigan’s Upper Peninsula through organic growth and acquisitions.