Nicolet Bankshares (NYSE:NIC) Hits New 12-Month High – Here’s Why

Nicolet Bankshares Inc. (NYSE:NIC) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $154.27 and last traded at $153.7350, with a volume of 30556 shares trading hands. The stock had previously closed at $152.25.

Analyst Upgrades and Downgrades

NIC has been the subject of a number of research analyst reports. Hovde Group reaffirmed an “outperform” rating and set a $190.00 price objective on shares of Nicolet Bankshares in a report on Tuesday, January 27th. Piper Sandler upped their target price on shares of Nicolet Bankshares from $145.00 to $148.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 21st. Zacks Research raised shares of Nicolet Bankshares from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Nicolet Bankshares in a research note on Thursday, January 22nd. Finally, Maxim Group increased their price objective on shares of Nicolet Bankshares from $161.00 to $173.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $170.25.

Nicolet Bankshares Trading Down 0.3%

The company has a market cap of $2.24 billion, a PE ratio of 15.45 and a beta of 0.79. The stock’s 50 day moving average is $133.80 and its 200-day moving average is $130.84. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.11.

Nicolet Bankshares (NYSE:NIC) last issued its quarterly earnings data on Tuesday, January 20th. The company reported $2.73 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.18. The business had revenue of $103.99 million during the quarter, compared to analysts’ expectations of $79.67 million. Nicolet Bankshares had a net margin of 26.98% and a return on equity of 12.65%. As a group, sell-side analysts anticipate that Nicolet Bankshares Inc. will post 8.18 EPS for the current year.

Nicolet Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be given a dividend of $0.32 per share. The ex-dividend date is Monday, March 2nd. This represents a $1.28 dividend on an annualized basis and a yield of 0.8%. Nicolet Bankshares’s dividend payout ratio is 13.06%.

Hedge Funds Weigh In On Nicolet Bankshares

Large investors have recently modified their holdings of the stock. First Trust Advisors LP lifted its holdings in shares of Nicolet Bankshares by 50.6% in the 2nd quarter. First Trust Advisors LP now owns 519,013 shares of the company’s stock worth $64,088,000 after acquiring an additional 174,361 shares during the last quarter. American Century Companies Inc. grew its holdings in Nicolet Bankshares by 485.7% during the 2nd quarter. American Century Companies Inc. now owns 184,281 shares of the company’s stock valued at $22,755,000 after purchasing an additional 152,817 shares during the last quarter. JPMorgan Chase & Co. raised its position in Nicolet Bankshares by 247.1% in the 4th quarter. JPMorgan Chase & Co. now owns 82,920 shares of the company’s stock worth $10,058,000 after purchasing an additional 59,031 shares during the period. Boston Partners lifted its stake in Nicolet Bankshares by 40.6% in the third quarter. Boston Partners now owns 199,396 shares of the company’s stock worth $26,789,000 after purchasing an additional 57,536 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Nicolet Bankshares by 91.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 120,218 shares of the company’s stock valued at $14,582,000 after buying an additional 57,280 shares during the period. Institutional investors own 43.06% of the company’s stock.

About Nicolet Bankshares

Nicolet Bankshares, Inc is a bank holding company headquartered in Green Bay, Wisconsin. Through its subsidiary, Nicolet National Bank, it provides a range of commercial and consumer banking services to businesses, individuals and nonprofit organizations across northeastern Wisconsin and the Upper Peninsula of Michigan. The company’s branch network, digital banking platform and commercial lending centers support its focus on community banking and regional growth.

The company offers deposit products such as checking, savings and money market accounts, alongside consumer and commercial lending solutions.