Nicolet Bankshares (NYSE:NIC) PT Lowered to $88.00 at Stephens

Nicolet Bankshares (NYSE:NIC) had its price objective cut by analysts at Stephens from $92.00 to $88.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Stephens’ target price would suggest a potential upside of 15.52% from the stock’s current price.

NIC has been the topic of a number of other reports. Hovde Group raised shares of Nicolet Bankshares from a “market perform” rating to an “outperform” rating in a research note on Monday, March 4th. Keefe, Bruyette & Woods boosted their price target on shares of Nicolet Bankshares from $85.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday. TheStreet upgraded shares of Nicolet Bankshares from a “c+” rating to a “b” rating in a report on Wednesday, January 17th. Finally, Piper Sandler decreased their price target on shares of Nicolet Bankshares from $88.00 to $82.50 and set a “neutral” rating for the company in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Nicolet Bankshares has a consensus rating of “Hold” and a consensus target price of $87.88.

Nicolet Bankshares Price Performance

Shares of NYSE NIC traded up $0.22 during trading on Thursday, hitting $76.18. The company had a trading volume of 5,381 shares, compared to its average volume of 38,695. The stock has a fifty day simple moving average of $80.52 and a two-hundred day simple moving average of $77.66. Nicolet Bankshares has a fifty-two week low of $51.76 and a fifty-two week high of $86.86. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 11.82 and a beta of 0.74. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.16.

Nicolet Bankshares (NYSE:NIC) last posted its quarterly earnings results on Tuesday, January 16th. The company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.12. The firm had revenue of $89.20 million for the quarter, compared to analyst estimates of $78.30 million. Nicolet Bankshares had a net margin of 20.60% and a return on equity of 10.07%. On average, research analysts expect that Nicolet Bankshares will post 6.93 earnings per share for the current year.

Insider Buying and Selling at Nicolet Bankshares

In other news, EVP Eric James Witczak sold 2,053 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $82.45, for a total value of $169,269.85. Following the completion of the sale, the executive vice president now directly owns 41,427 shares of the company’s stock, valued at $3,415,656.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Robert Bruce Atwell sold 2,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $81.93, for a total value of $163,860.00. Following the completion of the transaction, the director now directly owns 42,889 shares of the company’s stock, valued at $3,513,895.77. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Eric James Witczak sold 2,053 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $82.45, for a total value of $169,269.85. Following the completion of the transaction, the executive vice president now directly owns 41,427 shares of the company’s stock, valued at $3,415,656.15. The disclosure for this sale can be found here. Corporate insiders own 16.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN bought a new position in Nicolet Bankshares in the fourth quarter worth $35,000. Citigroup Inc. bought a new position in shares of Nicolet Bankshares during the fourth quarter valued at $35,000. Metropolitan Life Insurance Co NY bought a new position in shares of Nicolet Bankshares during the fourth quarter valued at $58,000. Tower Research Capital LLC TRC lifted its holdings in shares of Nicolet Bankshares by 92.8% during the second quarter. Tower Research Capital LLC TRC now owns 912 shares of the company’s stock valued at $62,000 after acquiring an additional 439 shares during the period. Finally, Harbour Investments Inc. lifted its holdings in shares of Nicolet Bankshares by 14.7% during the fourth quarter. Harbour Investments Inc. now owns 1,569 shares of the company’s stock valued at $126,000 after acquiring an additional 201 shares during the period. 43.06% of the stock is owned by institutional investors.

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.