Nicolet Bankshares Inc. (NYSE:NIC) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Nicolet Bankshares Inc. (NYSE:NIC) have been given a consensus rating of “Moderate Buy” by the six research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $176.50.

Several brokerages have issued reports on NIC. Weiss Ratings lowered Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Piper Sandler dropped their target price on Nicolet Bankshares from $185.00 to $183.00 and set an “overweight” rating for the company in a research report on Wednesday, April 22nd. Zacks Research lowered Nicolet Bankshares from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 20th. Finally, Hovde Group dropped their target price on Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd.

Insider Activity

In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 3,331 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $150.67, for a total transaction of $501,881.77. Following the completion of the transaction, the director owned 34,054 shares in the company, valued at $5,130,916.18. The trade was a 8.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 7.20% of the stock is owned by company insiders.

Institutional Trading of Nicolet Bankshares

Institutional investors and hedge funds have recently modified their holdings of the stock. Merit Financial Group LLC raised its stake in shares of Nicolet Bankshares by 31.2% during the fourth quarter. Merit Financial Group LLC now owns 49,314 shares of the company’s stock valued at $5,982,000 after acquiring an additional 11,729 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of Nicolet Bankshares during the third quarter valued at approximately $3,850,000. UBS Group AG raised its stake in shares of Nicolet Bankshares by 61.1% during the fourth quarter. UBS Group AG now owns 49,213 shares of the company’s stock valued at $5,970,000 after acquiring an additional 18,657 shares in the last quarter. AlphaQuest LLC raised its stake in shares of Nicolet Bankshares by 804.7% during the fourth quarter. AlphaQuest LLC now owns 16,782 shares of the company’s stock valued at $2,036,000 after acquiring an additional 14,927 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Nicolet Bankshares by 4.1% during the third quarter. First Trust Advisors LP now owns 540,486 shares of the company’s stock valued at $72,695,000 after acquiring an additional 21,473 shares in the last quarter. Institutional investors own 43.06% of the company’s stock.

Nicolet Bankshares Trading Down 0.2%

NIC opened at $140.25 on Friday. The firm has a market cap of $2.98 billion, a P/E ratio of 16.44 and a beta of 0.70. Nicolet Bankshares has a 12 month low of $114.11 and a 12 month high of $163.11. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average of $146.88 and a 200 day moving average of $140.53.

Nicolet Bankshares (NYSE:NIC) last announced its earnings results on Tuesday, April 21st. The company reported $2.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.23). Nicolet Bankshares had a net margin of 21.89% and a return on equity of 11.48%. The business had revenue of $134.85 million for the quarter, compared to analysts’ expectations of $129.74 million. As a group, research analysts forecast that Nicolet Bankshares will post 11.75 EPS for the current year.

Nicolet Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.0%. This is a boost from Nicolet Bankshares’s previous quarterly dividend of $0.32. The ex-dividend date is Monday, June 1st. Nicolet Bankshares’s dividend payout ratio (DPR) is presently 15.01%.

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.