Nicolet Bankshares (NYSE:NIC) Given New $82.50 Price Target at Piper Sandler

Nicolet Bankshares (NYSE:NIC) had its price objective lowered by Piper Sandler from $88.00 to $82.50 in a research report report published on Wednesday, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Other research analysts also recently issued research reports about the company. Hovde Group raised Nicolet Bankshares from a market perform rating to an outperform rating in a report on Monday, March 4th. Stephens reiterated an equal weight rating and issued a $92.00 price objective on shares of Nicolet Bankshares in a research report on Wednesday. TheStreet raised shares of Nicolet Bankshares from a c+ rating to a b rating in a research note on Wednesday, January 17th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Nicolet Bankshares from $84.00 to $85.00 and gave the company a market perform rating in a report on Thursday, January 18th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $88.63.

Nicolet Bankshares Trading Down 2.2 %

Shares of Nicolet Bankshares stock opened at $76.04 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.13 billion, a P/E ratio of 11.72 and a beta of 0.74. Nicolet Bankshares has a 12-month low of $51.76 and a 12-month high of $86.86. The company has a 50-day simple moving average of $80.52 and a 200 day simple moving average of $77.66.

Nicolet Bankshares (NYSE:NIC) last announced its earnings results on Tuesday, January 16th. The company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.12. The company had revenue of $89.20 million for the quarter, compared to analyst estimates of $78.30 million. Nicolet Bankshares had a net margin of 20.60% and a return on equity of 10.07%. Research analysts expect that Nicolet Bankshares will post 6.93 earnings per share for the current fiscal year.

Nicolet Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 8th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Thursday, March 7th. Nicolet Bankshares’s payout ratio is 15.41%.

Insider Buying and Selling at Nicolet Bankshares

In other news, EVP Eric James Witczak sold 2,053 shares of Nicolet Bankshares stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $82.45, for a total transaction of $169,269.85. Following the transaction, the executive vice president now directly owns 41,427 shares of the company’s stock, valued at $3,415,656.15. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Robert Bruce Atwell sold 2,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $81.93, for a total transaction of $163,860.00. Following the completion of the sale, the director now directly owns 42,889 shares of the company’s stock, valued at approximately $3,513,895.77. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Eric James Witczak sold 2,053 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $82.45, for a total transaction of $169,269.85. Following the sale, the executive vice president now owns 41,427 shares in the company, valued at $3,415,656.15. The disclosure for this sale can be found here. Insiders own 16.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NIC. Wells Fargo & Company MN acquired a new position in shares of Nicolet Bankshares in the fourth quarter valued at approximately $35,000. Citigroup Inc. acquired a new position in shares of Nicolet Bankshares in the fourth quarter valued at approximately $35,000. Metropolitan Life Insurance Co NY acquired a new position in shares of Nicolet Bankshares in the fourth quarter valued at approximately $58,000. Tower Research Capital LLC TRC boosted its holdings in shares of Nicolet Bankshares by 92.8% in the second quarter. Tower Research Capital LLC TRC now owns 912 shares of the company’s stock valued at $62,000 after buying an additional 439 shares during the period. Finally, Harbour Investments Inc. boosted its holdings in shares of Nicolet Bankshares by 14.7% in the fourth quarter. Harbour Investments Inc. now owns 1,569 shares of the company’s stock valued at $126,000 after buying an additional 201 shares during the period. Institutional investors and hedge funds own 43.06% of the company’s stock.

Nicolet Bankshares Company Profile

Nicolet Bankshares, Inc operates as the bank holding company for Nicolet National Bank that provides banking products and services for businesses and individuals in Wisconsin and Michigan. The company accepts checking, savings, and money market accounts; various certificates of deposit; and individual retirement accounts.