Nicolet Bankshares Inc. (NYSE:NIC) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Nicolet Bankshares Inc. (NYSE:NIC) have been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $183.00.

A number of equities analysts have recently weighed in on NIC shares. Hovde Group cut their target price on Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Keefe, Bruyette & Woods increased their price target on Nicolet Bankshares from $175.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Piper Sandler set a $194.00 price target on Nicolet Bankshares in a report on Wednesday, July 22nd. Raymond James Financial started coverage on Nicolet Bankshares in a report on Tuesday, June 23rd. They set a “market perform” rating on the stock. Finally, Weiss Ratings raised Nicolet Bankshares from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, August 3rd.

Nicolet Bankshares Stock Up 0.6%

NIC opened at $178.47 on Friday. Nicolet Bankshares has a fifty-two week low of $114.11 and a fifty-two week high of $180.00. The firm has a market capitalization of $3.74 billion, a P/E ratio of 20.26 and a beta of 0.65. The company’s 50-day moving average is $162.86 and its 200 day moving average is $153.41. 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 (NYSE:NIC) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $2.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.14. The business had revenue of $177.75 million during the quarter, compared to the consensus estimate of $171.93 million. Nicolet Bankshares had a net margin of 21.77% and a return on equity of 11.36%. Research analysts expect that Nicolet Bankshares will post 12.3 earnings per share for the current fiscal year.

Nicolet Bankshares Announces Dividend

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

Insider Buying and Selling at Nicolet Bankshares

In related news, EVP Eric James Witczak sold 342 shares of Nicolet Bankshares stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $171.96, for a total value of $58,810.32. Following the completion of the sale, the executive vice president owned 33,288 shares of the company’s stock, valued at approximately $5,724,204.48. This trade represents a 1.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert Bruce Atwell sold 2,662 shares of the business’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $170.24, for a total value of $453,178.88. Following the completion of the sale, the director owned 34,483 shares in the company, valued at $5,870,385.92. This represents a 7.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 4,219 shares of company stock worth $715,976. Corporate insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Nicolet Bankshares

A number of hedge funds and other institutional investors have recently bought and sold shares of NIC. EverSource Wealth Advisors LLC lifted its position in shares of Nicolet Bankshares by 3,940.0% during the second quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock worth $25,000 after acquiring an additional 197 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Nicolet Bankshares in the fourth quarter valued at $48,000. Clearstead Advisors LLC raised its stake in shares of Nicolet Bankshares by 192.9% during the 4th quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock valued at $55,000 after purchasing an additional 297 shares during the period. Parallel Advisors LLC lifted its holdings in Nicolet Bankshares by 151.9% during the 1st quarter. Parallel Advisors LLC now owns 607 shares of the company’s stock worth $90,000 after purchasing an additional 366 shares in the last quarter. Finally, UMB Bank n.a. purchased a new stake in Nicolet Bankshares during the 4th quarter worth about $102,000. Institutional investors own 43.06% of the company’s stock.

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.