Nicolet Bankshares Inc. (NYSE:NIC) Receives $183.00 Consensus Target Price from Analysts

Nicolet Bankshares Inc. (NYSE:NIC) has been given an average recommendation of “Moderate Buy” by the seven ratings firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $183.00.

A number of research analysts have issued reports on NIC shares. Raymond James Financial started coverage on shares of Nicolet Bankshares in a research report on Tuesday, June 23rd. They set a “market perform” rating on the stock. Piper Sandler set a $194.00 price target on shares of Nicolet Bankshares in a research report on Wednesday, July 22nd. Weiss Ratings raised shares of Nicolet Bankshares from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday. Hovde Group dropped their price target on shares of Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Nicolet Bankshares from $175.00 to $185.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd.

Nicolet Bankshares Trading Down 0.6%

NIC stock opened at $171.56 on Friday. The company has a market cap of $3.60 billion, a P/E ratio of 19.47 and a beta of 0.65. Nicolet Bankshares has a twelve month low of $114.11 and a twelve month high of $180.00. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average of $166.00 and a 200-day moving average of $154.51.

Nicolet Bankshares (NYSE:NIC) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.14. The business had revenue of $177.75 million for the quarter, compared to analysts’ expectations of $171.93 million. Nicolet Bankshares had a return on equity of 11.36% and a net margin of 21.77%. As a group, equities research analysts expect that Nicolet Bankshares will post 12.3 EPS for the current year.

Nicolet Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.36 per share. The ex-dividend date is Tuesday, September 1st. This represents a $1.44 annualized dividend and a dividend yield of 0.8%. Nicolet Bankshares’s payout ratio is presently 16.35%.

Insiders Place Their Bets

In related news, Director Robert Bruce Atwell sold 2,662 shares of Nicolet Bankshares stock in a transaction on Friday, July 24th. The stock was sold at an average price of $170.24, for a total transaction of $453,178.88. Following the completion of the sale, the director directly owned 34,483 shares of the company’s stock, valued at $5,870,385.92. The trade was a 7.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Eric James Witczak sold 1,215 shares of the company’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $167.89, for a total value of $203,986.35. Following the completion of the sale, the executive vice president owned 33,630 shares of the company’s stock, valued at $5,646,140.70. This represents a 3.49% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 4,219 shares of company stock worth $715,976. 7.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nicolet Bankshares

Several institutional investors have recently modified their holdings of NIC. BlackRock Inc. raised its position in shares of Nicolet Bankshares by 86.3% in the 2nd quarter. BlackRock Inc. now owns 3,027,246 shares of the company’s stock valued at $500,676,000 after acquiring an additional 1,402,419 shares during the period. Dimensional Fund Advisors LP boosted its stake in Nicolet Bankshares by 32.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 819,274 shares of the company’s stock worth $121,756,000 after acquiring an additional 198,997 shares during the last quarter. Vanguard Group Inc. grew its holdings in Nicolet Bankshares by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 737,578 shares of the company’s stock valued at $89,468,000 after purchasing an additional 22,474 shares during the period. State Street Corp increased its stake in Nicolet Bankshares by 6.2% in the fourth quarter. State Street Corp now owns 458,724 shares of the company’s stock valued at $55,643,000 after purchasing an additional 26,893 shares in the last quarter. Finally, Jennison Associates LLC bought a new stake in Nicolet Bankshares in the first quarter valued at approximately $31,794,000. 43.06% of the stock is currently owned by institutional investors and hedge funds.

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.