Nicolet Bankshares (NYSE:NIC) Price Target Raised to $115.00

Nicolet Bankshares (NYSE:NIC) had its price objective boosted by Keefe, Bruyette & Woods from $110.00 to $115.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has a market perform rating on the stock.

Other equities research analysts have also recently issued reports about the company. Piper Sandler lifted their price objective on Nicolet Bankshares from $119.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday. Maxim Group upped their price objective on Nicolet Bankshares from $120.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Nicolet Bankshares currently has an average rating of “Hold” and a consensus price target of $119.00.

Nicolet Bankshares Price Performance

Shares of NYSE NIC opened at $109.47 on Thursday. Nicolet Bankshares has a fifty-two week low of $73.00 and a fifty-two week high of $116.17. The business has a 50-day simple moving average of $108.26 and a two-hundred day simple moving average of $101.05. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $1.66 billion, a PE ratio of 13.63 and a beta of 0.77.

Nicolet Bankshares (NYSE:NIC) last released its quarterly earnings data on Tuesday, January 21st. The company reported $2.17 EPS for the quarter, beating the consensus estimate 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 analysts expect that Nicolet Bankshares will post 8.1 EPS for the current fiscal year.

Nicolet Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.28 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.12 annualized dividend and a dividend yield of 1.02%. Nicolet Bankshares’s dividend payout ratio is currently 13.95%.

Insider Transactions at Nicolet Bankshares

In other news, Director Robert Bruce Atwell sold 7,609 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $113.00, for a total value of $859,817.00. Following the sale, the director now owns 32,831 shares in the company, valued at approximately $3,709,903. This represents a 18.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Brad Vincent Hutjens sold 4,560 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $102.85, for a total transaction of $468,996.00. Following the completion of the transaction, the executive vice president now owns 26,674 shares in the company, valued at approximately $2,743,420.90. The trade was a 14.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 81,820 shares of company stock worth $8,942,298 over the last ninety days. 16.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nicolet Bankshares

Several hedge funds and other institutional investors have recently modified their holdings of the company. Heck Capital Advisors LLC acquired a new stake in Nicolet Bankshares during the fourth quarter valued at approximately $629,000. Verus Wealth Management LLC bought a new stake in shares of Nicolet Bankshares in the fourth quarter valued at approximately $551,000. Merit Financial Group LLC grew its holdings in shares of Nicolet Bankshares by 1.7% during the 4th quarter. Merit Financial Group LLC now owns 34,543 shares of the company’s stock worth $3,624,000 after purchasing an additional 592 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Nicolet Bankshares by 111.7% during the third quarter. JPMorgan Chase & Co. now owns 32,818 shares of the company’s stock worth $3,138,000 after purchasing an additional 17,314 shares during the period. Finally, Virtu Financial LLC acquired a new position in Nicolet Bankshares in the third quarter valued at about $264,000. Institutional investors and hedge funds own 43.06% of the company’s stock.

Nicolet Bankshares Company Profile

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.