Nicolet Bankshares (NYSE:NIC) PT Lowered to $88.00

Nicolet Bankshares (NYSE:NIC) had its target price cut by analysts at Stephens from $92.00 to $88.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Stephens’ price objective would suggest a potential upside of 10.14% from the stock’s previous close.

Several other research analysts have also recently issued reports on NIC. TheStreet upgraded shares of Nicolet Bankshares from a “c+” rating to a “b” rating in a report on Wednesday, January 17th. Keefe, Bruyette & Woods increased their price target on Nicolet Bankshares from $85.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday. Hovde Group raised Nicolet Bankshares from a “market perform” rating to an “outperform” rating in a research note on Monday, March 4th. Finally, Piper Sandler decreased their target price on Nicolet Bankshares from $88.00 to $82.50 and set a “neutral” rating for the company in a research note on Wednesday. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $87.88.

Nicolet Bankshares Stock Performance

Shares of NIC opened at $79.90 on Thursday. The firm has a market capitalization of $1.19 billion, a PE ratio of 12.31 and a beta of 0.74. 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 firm has a 50-day moving average price of $80.62 and a 200 day moving average price of $77.74. Nicolet Bankshares has a 52-week low of $51.76 and a 52-week high of $86.86.

Insider Buying and Selling at Nicolet Bankshares

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

Hedge Funds Weigh In On Nicolet Bankshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC purchased a new stake in shares of Nicolet Bankshares in the fourth quarter valued at $18,931,000. FMR LLC boosted its position in Nicolet Bankshares by 54.2% during the 3rd quarter. FMR LLC now owns 556,958 shares of the company’s stock worth $38,865,000 after acquiring an additional 195,707 shares during the period. Alliancebernstein L.P. grew its stake in Nicolet Bankshares by 130.1% during the 2nd quarter. Alliancebernstein L.P. now owns 330,521 shares of the company’s stock valued at $22,446,000 after acquiring an additional 186,872 shares in the last quarter. Charles Schwab Investment Management Inc. acquired a new position in shares of Nicolet Bankshares in the 4th quarter valued at about $7,746,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Nicolet Bankshares by 8.9% in the first quarter. Dimensional Fund Advisors LP now owns 475,076 shares of the company’s stock worth $29,953,000 after purchasing an additional 38,925 shares in the last quarter. 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.