Nicolet Bankshares Inc. (NIC) – What Are Brokerages Saying About This Stock?

Shares of Nicolet Bankshares Inc. (NYSE:NIC) have been assigned a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $184.80.

Several equities analysts have recently commented on the company. Keefe, Bruyette & Woods raised their price target on Nicolet Bankshares from $175.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Weiss Ratings downgraded shares of Nicolet Bankshares from a “buy (a+)” rating to a “buy (a)” rating in a research note on Friday, October 23rd. Piper Sandler lifted their price objective on shares of Nicolet Bankshares from $194.00 to $196.00 and gave the company an “overweight” rating in a report on Wednesday, October 21st. Finally, Stephens upped their target price on Nicolet Bankshares from $185.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, October 23rd.

Insider Transactions at Nicolet Bankshares

In other Nicolet Bankshares news, Director Robert Atwell sold 3,556 shares of the stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $171.22, for a total value of $608,858.32. Following the completion of the sale, the director directly owned 34,483 shares in the company, valued at approximately $5,904,179.26. This trade represents a 9.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 7.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nicolet Bankshares

Several hedge funds have recently modified their holdings of NIC. BlackRock Inc. raised its stake in shares of Nicolet Bankshares by 86.3% during the 2nd quarter. BlackRock Inc. now owns 3,027,246 shares of the company’s stock worth $500,676,000 after buying an additional 1,402,419 shares during the period. State Street Corp lifted its position in shares of Nicolet Bankshares by 65.1% during the 2nd quarter. State Street Corp now owns 1,174,560 shares of the company’s stock valued at $194,244,000 after buying an additional 463,199 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Nicolet Bankshares by 32.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 819,274 shares of the company’s stock valued at $121,756,000 after acquiring an additional 198,997 shares during the period. Jennison Associates LLC acquired a new stake in Nicolet Bankshares in the 1st quarter valued at $31,794,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Nicolet Bankshares in the 2nd quarter valued at $30,896,000. Institutional investors and hedge funds own 43.06% of the company’s stock.

Nicolet Bankshares Stock Performance

NYSE NIC opened at $172.76 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.90 and a quick ratio of 0.90. Nicolet Bankshares has a 1-year low of $117.71 and a 1-year high of $180.00. The business has a 50 day simple moving average of $167.95 and a two-hundred day simple moving average of $157.36. The stock has a market capitalization of $3.59 billion, a PE ratio of 19.11 and a beta of 0.67.

Nicolet Bankshares (NYSE:NIC) last released its quarterly earnings data on Tuesday, October 20th. The company reported $3.15 EPS for the quarter, beating the consensus estimate of $3.07 by $0.08. The business had revenue of $174.43 million during the quarter, compared to analyst estimates of $173.64 million. Nicolet Bankshares had a net margin of 22.11% and a return on equity of 11.27%. On average, research analysts predict that Nicolet Bankshares will post 12.10 EPS for the current fiscal year.

Nicolet Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, December 1st. Nicolet Bankshares’s payout ratio is 15.93%.

About Nicolet Bankshares

Nicolet Bankshares, Inc is a bank holding company headquartered in Green Bay, Wisconsin. Through its principal subsidiary, Nicolet National Bank, the company provides banking and financial services to individuals, families, businesses and organizations.

Nicolet National Bank offers commercial and consumer lending, deposit accounts, residential and commercial real estate financing, treasury management and other business banking services. Its offerings also include wealth management, trust and investment services, mortgage banking and related financial solutions.

Founded in 2000, Nicolet has built a community-banking franchise serving customers primarily in Wisconsin and neighboring market areas.