Nicolet Bankshares (NYSE:NIC) Price Target Raised to $190.00

Nicolet Bankshares (NYSE:NIC) had its target price increased by Stephens from $185.00 to $190.00 in a report released on Friday morning, MarketBeat.com reports. Stephens currently has an equal weight rating on the stock.

Several other equities analysts have also weighed in on the company. Piper Sandler increased their target price on Nicolet Bankshares from $194.00 to $196.00 and gave the company an “overweight” rating in a research note on Wednesday. Keefe, Bruyette & Woods raised their target price on Nicolet Bankshares from $175.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Finally, Weiss Ratings upgraded Nicolet Bankshares from a “buy (a)” rating to a “buy (a+)” rating in a research report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $184.80.

Nicolet Bankshares Stock Performance

Shares of Nicolet Bankshares stock opened at $171.51 on Friday. The firm has a fifty day moving average of $168.11 and a two-hundred day moving average of $159.94. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 18.97 and a beta of 0.64. Nicolet Bankshares has a 52 week low of $114.11 and a 52 week high of $180.00.

Nicolet Bankshares (NYSE:NIC) last posted its quarterly earnings results on Tuesday, October 20th. The company reported $3.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.07 by $0.08. Nicolet Bankshares had a return on equity of 11.71% and a net margin of 22.11%. The business had revenue of $174.43 million for the quarter, compared to analyst estimates of $173.64 million. As a group, equities research analysts predict that Nicolet Bankshares will post 12.10 EPS for the current year.

Nicolet Bankshares Announces Dividend

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

Insiders Place Their Bets

In other news, EVP Eric Witczak sold 342 shares of Nicolet Bankshares stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $171.96, for a total transaction of $58,810.32. Following the transaction, the executive vice president directly owned 33,288 shares of the company’s stock, valued at $5,724,204.48. This trade represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 7.20% of the company’s stock.

Institutional Trading of Nicolet Bankshares

Several hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC lifted its holdings in Nicolet Bankshares by 0.7% during the second quarter. Squarepoint Ops LLC now owns 16,960 shares of the company’s stock worth $2,805,000 after acquiring an additional 119 shares in the last quarter. Sterling Capital Management LLC raised its position in shares of Nicolet Bankshares by 58.0% during the third quarter. Sterling Capital Management LLC now owns 474 shares of the company’s stock worth $77,000 after purchasing an additional 174 shares during the period. Smith Group Asset Management LLC raised its position in shares of Nicolet Bankshares by 9.3% during the first 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. KBC Group NV lifted its holdings in shares of Nicolet Bankshares by 42.5% during the 1st quarter. KBC Group NV now owns 842 shares of the company’s stock valued at $125,000 after purchasing an additional 251 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Nicolet Bankshares by 82.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 630 shares of the company’s stock valued at $94,000 after purchasing an additional 284 shares in the last quarter. 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 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.