Nicolet Bankshares (NYSE:NIC) Price Target Increased to $86.00 by Analysts at Keefe, Bruyette & Woods

Nicolet Bankshares (NYSE:NIC) had its price target increased by research analysts at Keefe, Bruyette & Woods from $85.00 to $86.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 12.24% from the company’s current price.

Several other analysts have also issued reports on the stock. TheStreet upgraded shares of Nicolet Bankshares from a “c+” rating to a “b” rating in a report on Wednesday, January 17th. Hovde Group raised Nicolet Bankshares from a “market perform” rating to an “outperform” rating in a research note on Monday, March 4th. Piper Sandler reduced their price objective on shares of Nicolet Bankshares from $88.00 to $82.50 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Stephens restated an “equal weight” rating and set a $92.00 target price on shares of Nicolet Bankshares in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Nicolet Bankshares presently has a consensus rating of “Hold” and an average price target of $88.88.

Nicolet Bankshares Stock Up 0.9 %

NYSE NIC traded up $0.66 on Thursday, reaching $76.62. 1,866 shares of the stock traded hands, compared to its average volume of 38,645. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 11.69 and a beta of 0.74. Nicolet Bankshares has a 12 month low of $51.76 and a 12 month high of $86.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.95 and a current ratio of 0.95. The company has a fifty day moving average price of $80.52 and a 200-day moving average price of $77.66.

Nicolet Bankshares (NYSE:NIC) last posted its quarterly earnings results on Tuesday, January 16th. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.12. The firm had revenue of $89.20 million for the quarter, compared to the consensus estimate of $78.30 million. Nicolet Bankshares had a net margin of 20.60% and a return on equity of 10.07%. As a group, research analysts forecast that Nicolet Bankshares will post 6.93 EPS for the current fiscal year.

Insider Activity at Nicolet Bankshares

In related news, EVP Eric James Witczak sold 2,053 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $82.45, for a total value of $169,269.85. Following the completion of the sale, the executive vice president now owns 41,427 shares of the company’s stock, valued at approximately $3,415,656.15. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $81.93, for a total value of $163,860.00. Following the completion of the sale, the director now owns 42,889 shares in the company, valued at approximately $3,513,895.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Eric James Witczak sold 2,053 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $82.45, for a total value of $169,269.85. Following the completion of the transaction, the executive vice president now directly owns 41,427 shares of the company’s stock, valued at $3,415,656.15. The disclosure for this sale can be found here. Insiders own 16.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of NIC. Stifel Financial Corp increased its stake in shares of Nicolet Bankshares by 0.9% in the third quarter. Stifel Financial Corp now owns 15,888 shares of the company’s stock valued at $1,109,000 after buying an additional 141 shares in the last quarter. Harbour Investments Inc. boosted its position in shares of Nicolet Bankshares by 14.7% in the fourth quarter. Harbour Investments Inc. now owns 1,569 shares of the company’s stock valued at $126,000 after acquiring an additional 201 shares during the period. Legal & General Group Plc increased its position in Nicolet Bankshares by 1.9% during the fourth quarter. Legal & General Group Plc now owns 12,680 shares of the company’s stock worth $1,019,000 after acquiring an additional 237 shares during the period. Merit Financial Group LLC grew its position in shares of Nicolet Bankshares by 8.0% during the 4th quarter. Merit Financial Group LLC now owns 3,331 shares of the company’s stock worth $268,000 after purchasing an additional 246 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Nicolet Bankshares by 1.8% in the third quarter. PNC Financial Services Group Inc. now owns 14,250 shares of the company’s stock valued at $994,000 after buying an additional 250 shares in the last quarter. Institutional investors own 43.06% of the company’s stock.

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.