Nicolet Bankshares (NYSE:NIC) Reaches New 12-Month High – What’s Next?

Nicolet Bankshares Inc. (NYSE:NIC) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $173.00 and last traded at $172.3150, with a volume of 76481 shares trading hands. The stock had previously closed at $165.53.

Wall Street Analysts Forecast Growth

NIC has been the subject of several research reports. Piper Sandler cut their price target on Nicolet Bankshares from $185.00 to $183.00 and set an “overweight” rating for the company in a report on Wednesday, April 22nd. Zacks Research raised shares of Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Hovde Group decreased their target price on Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Weiss Ratings downgraded Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Finally, Raymond James Financial assumed coverage on shares of Nicolet Bankshares in a research report on Tuesday, June 23rd. They issued a “market perform” rating for the company. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $176.50.

Nicolet Bankshares Price Performance

The firm has a market capitalization of $3.60 billion, a P/E ratio of 19.88 and a beta of 0.65. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average is $150.70 and its 200-day moving average is $147.47.

Nicolet Bankshares (NYSE:NIC) last posted its quarterly earnings results on Tuesday, April 21st. The company reported $2.75 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.23). The business had revenue of $134.85 million for the quarter, compared to analyst estimates of $129.74 million. Nicolet Bankshares had a return on equity of 11.48% and a net margin of 21.89%. As a group, sell-side analysts predict that Nicolet Bankshares Inc. will post 12.17 EPS for the current fiscal year.

Nicolet Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a dividend of $0.36 per share. This is a positive change from Nicolet Bankshares’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.44 annualized dividend and a dividend yield of 0.8%. Nicolet Bankshares’s dividend payout ratio (DPR) is 16.88%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NIC. Handelsbanken Fonder AB acquired a new position in Nicolet Bankshares in the 2nd quarter valued at approximately $728,000. Parallel Advisors LLC increased its stake in shares of Nicolet Bankshares by 151.9% in the first quarter. Parallel Advisors LLC now owns 607 shares of the company’s stock valued at $90,000 after buying an additional 366 shares during the period. Bank of America Corp DE lifted its stake in shares of Nicolet Bankshares by 109.8% in the first quarter. Bank of America Corp DE now owns 31,420 shares of the company’s stock worth $4,670,000 after acquiring an additional 16,446 shares during the period. Janus Henderson Group PLC increased its position in Nicolet Bankshares by 2.7% during the 1st quarter. Janus Henderson Group PLC now owns 104,081 shares of the company’s stock valued at $15,466,000 after purchasing an additional 2,701 shares during the period. Finally, Smith Group Asset Management LLC lifted its position in shares of Nicolet Bankshares by 9.3% in the 1st quarter. Smith Group Asset Management LLC now owns 2,230 shares of the company’s stock worth $331,000 after purchasing an additional 189 shares during the period. Institutional investors and hedge funds own 43.06% of the company’s stock.

About Nicolet Bankshares

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.