Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Nicolet Bankshares (NYSE:NIC) Stock

Nicolet Bankshares (NYSE:NIC) had its price target boosted by Keefe, Bruyette & Woods from $118.00 to $135.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target points to a potential downside of 3.56% from the company’s previous close.

Separately, Piper Sandler reissued a “neutral” rating and issued a $140.00 target price (up from $122.50) on shares of Nicolet Bankshares in a research report on Wednesday.

Nicolet Bankshares Price Performance

NYSE NIC opened at $139.98 on Thursday. Nicolet Bankshares has a 1 year low of $85.68 and a 1 year high of $141.92. The business’s fifty day moving average is $123.94 and its two-hundred day moving average is $116.04. The stock has a market capitalization of $2.11 billion, a P/E ratio of 16.07 and a beta of 0.76. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.97 and a current ratio of 0.97.

Nicolet Bankshares (NYSE:NIC) last announced its earnings results on Tuesday, July 15th. The company reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.21. The company had revenue of $95.74 million for the quarter, compared to analyst estimates of $72.89 million. Nicolet Bankshares had a return on equity of 11.53% and a net margin of 25.12%. On average, research analysts forecast that Nicolet Bankshares will post 8.18 earnings per share for the current fiscal year.

Insider Transactions at Nicolet Bankshares

In other news, Director Robert Bruce Atwell sold 3,126 shares of the company’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $118.30, for a total value of $369,805.80. Following the transaction, the director owned 34,220 shares in the company, valued at $4,048,226. This represents a 8.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Susan L. Merkatoris sold 3,700 shares of the business’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $108.58, for a total transaction of $401,746.00. Following the transaction, the director directly owned 78,218 shares in the company, valued at $8,492,910.44. The trade was a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,226 shares of company stock valued at $1,884,826 over the last 90 days. Corporate insiders own 16.40% of the company’s stock.

Institutional Trading of Nicolet Bankshares

Several hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of Nicolet Bankshares by 20,603.3% during the 1st quarter. GAMMA Investing LLC now owns 6,211 shares of the company’s stock worth $677,000 after purchasing an additional 6,181 shares in the last quarter. Deutsche Bank AG raised its position in Nicolet Bankshares by 51.0% during the fourth quarter. Deutsche Bank AG now owns 11,506 shares of the company’s stock valued at $1,207,000 after acquiring an additional 3,888 shares in the last quarter. Vest Financial LLC acquired a new stake in Nicolet Bankshares in the first quarter valued at approximately $1,642,000. Barclays PLC grew its position in Nicolet Bankshares by 15.1% in the fourth quarter. Barclays PLC now owns 27,589 shares of the company’s stock worth $2,894,000 after acquiring an additional 3,611 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Nicolet Bankshares during the 1st quarter worth $405,000. 43.06% of the stock is currently owned by hedge funds and other institutional investors.

About Nicolet Bankshares

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.