Brokerages Set Nicolet Bankshares Inc. (NYSE:NIC) Price Target at $179.50

Nicolet Bankshares Inc. (NYSE:NIC) has been assigned a consensus rating of “Buy” from the six ratings firms that are covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $179.50.

A number of equities research analysts recently weighed in on the stock. Maxim Group boosted their price target on shares of Nicolet Bankshares from $161.00 to $173.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Keefe, Bruyette & Woods lifted their price objective on shares of Nicolet Bankshares from $165.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, January 22nd. Piper Sandler upgraded shares of Nicolet Bankshares from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $148.00 to $185.00 in a research note on Thursday, February 19th. Zacks Research upgraded shares of Nicolet Bankshares from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 30th. Finally, Hovde Group reaffirmed an “outperform” rating and issued a $190.00 price target on shares of Nicolet Bankshares in a report on Tuesday, January 27th.

Nicolet Bankshares Price Performance

Nicolet Bankshares stock opened at $157.30 on Friday. The stock has a market cap of $3.36 billion, a P/E ratio of 16.05 and a beta of 0.74. The company has a fifty day simple moving average of $151.25 and a 200-day simple moving average of $136.47. Nicolet Bankshares has a 12-month low of $101.34 and a 12-month high of $163.11. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.11.

Nicolet Bankshares (NYSE:NIC) last released its quarterly earnings data on Tuesday, January 20th. The company reported $2.73 earnings per share (EPS) for the quarter, topping the consensus estimate 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 12.49%. Equities analysts expect that Nicolet Bankshares will post 8.18 EPS for the current fiscal year.

Nicolet Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, March 2nd. Nicolet Bankshares’s dividend payout ratio is 13.06%.

Insider Transactions at Nicolet Bankshares

In related news, Director Robert Bruce Atwell sold 3,309 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $149.82, for a total transaction of $495,754.38. Following the sale, the director owned 34,054 shares in the company, valued at approximately $5,101,970.28. This trade represents a 8.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 13,036 shares of company stock worth $1,992,022 in the last quarter. 7.20% of the stock is currently owned by company insiders.

Institutional Trading of Nicolet Bankshares

A number of hedge funds have recently bought and sold shares of the company. PDT Partners LLC boosted its position in Nicolet Bankshares by 1.8% during the second quarter. PDT Partners LLC now owns 5,572 shares of the company’s stock worth $688,000 after acquiring an additional 100 shares during the last quarter. ProShare Advisors LLC boosted its position in Nicolet Bankshares by 4.9% during 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 during the last quarter. LPL Financial LLC boosted its position in Nicolet Bankshares by 4.6% during the fourth quarter. LPL Financial LLC now owns 2,836 shares of the company’s stock worth $344,000 after acquiring an additional 126 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Nicolet Bankshares by 71.8% during the third quarter. EverSource Wealth Advisors LLC now owns 347 shares of the company’s stock worth $47,000 after purchasing an additional 145 shares during the period. Finally, Bank of Montreal Can raised its stake in Nicolet Bankshares by 0.6% during the fourth quarter. Bank of Montreal Can now owns 23,181 shares of the company’s stock worth $2,829,000 after purchasing an additional 147 shares during the period. Institutional investors and hedge funds own 43.06% of the company’s stock.

Nicolet Bankshares Company Profile

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.