Nicolet Bankshares (NYSE:NIC) Price Target Raised to $170.00

Nicolet Bankshares (NYSE:NIC) had its price objective boosted by Keefe, Bruyette & Woods from $165.00 to $170.00 in a report issued on Thursday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

A number of other analysts have also commented on NIC. Piper Sandler boosted their price objective on Nicolet Bankshares from $145.00 to $148.00 and gave the stock a “neutral” rating in a report on Wednesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Nicolet Bankshares in a research report on Wednesday, October 8th. Finally, Zacks Research raised Nicolet Bankshares from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 30th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Nicolet Bankshares has an average rating of “Buy” and an average price target of $163.67.

Nicolet Bankshares Stock Performance

NIC opened at $141.30 on Thursday. Nicolet Bankshares has a 1-year low of $97.90 and a 1-year high of $148.36. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 14.42 and a beta of 0.78. The company’s fifty day moving average price is $127.50 and its two-hundred day moving average price is $129.54. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.11.

Nicolet Bankshares (NYSE:NIC) last issued its quarterly earnings data on Tuesday, January 20th. The company reported $2.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.18. Nicolet Bankshares had a net margin of 26.98% and a return on equity of 12.65%. The firm had revenue of $80.89 million during the quarter, compared to analysts’ expectations of $79.67 million. On average, analysts expect that Nicolet Bankshares will post 8.18 EPS for the current fiscal year.

Nicolet Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Monday, March 2nd. Nicolet Bankshares’s dividend payout ratio (DPR) is 13.06%.

Insider Buying and Selling at Nicolet Bankshares

In other Nicolet Bankshares news, CFO Hubert Phillip Moore, Jr. acquired 240 shares of Nicolet Bankshares stock in a transaction on Thursday, October 30th. The stock was purchased at an average price of $115.84 per share, for a total transaction of $27,801.60. Following the purchase, the chief financial officer directly owned 32,947 shares of the company’s stock, valued at $3,816,580.48. This trade represents a 0.73% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert J. Weyers bought 3,000 shares of the stock in a transaction dated Thursday, October 30th. The shares were acquired at an average price of $115.73 per share, for a total transaction of $347,190.00. Following the completion of the purchase, the director directly owned 26,250 shares in the company, valued at approximately $3,037,912.50. This trade represents a 12.90% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders acquired 3,370 shares of company stock worth $390,760. Insiders own 16.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS increased its stake in shares of Nicolet Bankshares by 3.4% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 3,000 shares of the company’s stock worth $370,000 after purchasing an additional 100 shares during the last quarter. PDT Partners LLC raised its stake in shares of Nicolet Bankshares by 1.8% in the second quarter. PDT Partners LLC now owns 5,572 shares of the company’s stock valued at $688,000 after buying an additional 100 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Nicolet Bankshares by 71.8% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 347 shares of the company’s stock valued at $47,000 after buying an additional 145 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Nicolet Bankshares by 45.1% during the 3rd quarter. Parkside Financial Bank & Trust now owns 589 shares of the company’s stock worth $79,000 after acquiring an additional 183 shares during the period. Finally, Swiss National Bank grew its stake in shares of Nicolet Bankshares by 0.8% during the 3rd quarter. Swiss National Bank now owns 26,300 shares of the company’s stock worth $3,537,000 after acquiring an additional 200 shares during the period. 43.06% of the stock is currently owned by hedge funds and other institutional investors.

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.