Nicolet Bankshares Inc. (NYSE:NIC) Receives $179.50 Consensus Price Target from Brokerages

Shares of Nicolet Bankshares Inc. (NYSE:NIC) have been assigned a consensus recommendation of “Buy” from the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $179.50.

Several research firms recently commented on NIC. Zacks Research upgraded Nicolet Bankshares from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Nicolet Bankshares in a report on Thursday, January 22nd. Keefe, Bruyette & Woods raised their target price on shares of Nicolet Bankshares from $165.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, January 22nd. Hovde Group reiterated an “outperform” rating and set a $190.00 target price on shares of Nicolet Bankshares in a research report on Tuesday, January 27th. Finally, Piper Sandler raised shares of Nicolet Bankshares from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $148.00 to $185.00 in a report on Thursday.

Insider Activity

In other news, Director Robert Bruce Atwell sold 6,396 shares of the stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $155.47, for a total transaction of $994,386.12. Following the transaction, the director directly owned 34,054 shares in the company, valued at approximately $5,294,375.38. This represents a 15.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 14.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its stake in shares of Nicolet Bankshares by 3,940.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock valued at $25,000 after purchasing an additional 197 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in Nicolet Bankshares during the third quarter valued at about $43,000. Meeder Asset Management Inc. purchased a new position in shares of Nicolet Bankshares in the fourth quarter worth about $48,000. Clearstead Advisors LLC increased its holdings in shares of Nicolet Bankshares by 192.9% in the fourth quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock worth $55,000 after buying an additional 297 shares during the period. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Nicolet Bankshares by 45.1% in the 3rd quarter. Parkside Financial Bank & Trust now owns 589 shares of the company’s stock valued at $79,000 after acquiring an additional 183 shares during the last quarter. 43.06% of the stock is currently owned by institutional investors.

Nicolet Bankshares Price Performance

Shares of NYSE:NIC opened at $161.01 on Friday. The company has a 50 day moving average of $137.48 and a 200 day moving average of $132.21. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.11. The stock has a market cap of $2.38 billion, a P/E ratio of 16.43 and a beta of 0.78. Nicolet Bankshares has a 12 month low of $97.90 and a 12 month high of $162.00.

Nicolet Bankshares (NYSE:NIC) last posted its earnings results on Tuesday, January 20th. The company reported $2.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.18. The business had revenue of $103.99 million for the quarter, compared to analysts’ expectations of $79.67 million. Nicolet Bankshares had a net margin of 26.98% and a return on equity of 12.65%. As a group, sell-side analysts forecast that Nicolet Bankshares will post 8.18 EPS for the current fiscal year.

Nicolet Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.28 annualized dividend and a yield of 0.8%. Nicolet Bankshares’s payout ratio is 13.06%.

About Nicolet Bankshares

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.