Hovde Group Lowers Nicolet Bankshares (NYSE:NIC) Price Target to $180.00

Nicolet Bankshares (NYSE:NIC) had its price objective dropped by Hovde Group from $190.00 to $180.00 in a research note issued on Thursday, MarketBeat.com reports. The firm presently has an “outperform” rating on the stock. Hovde Group’s price objective indicates a potential upside of 23.59% from the company’s previous close.

A number of other research firms have also commented on NIC. Keefe, Bruyette & Woods increased their price objective on Nicolet Bankshares from $165.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, January 22nd. Zacks Research downgraded Nicolet Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Nicolet Bankshares in a research report on Tuesday. Maxim Group increased their target price on Nicolet Bankshares from $161.00 to $173.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Finally, Piper Sandler reduced their target price on Nicolet Bankshares from $185.00 to $183.00 and set an “overweight” rating on the stock in a research report on Wednesday. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Nicolet Bankshares has a consensus rating of “Moderate Buy” and a consensus price target of $176.50.

Nicolet Bankshares Stock Up 1.1%

NIC opened at $145.64 on Thursday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. The firm has a market cap of $3.11 billion, a P/E ratio of 17.07 and a beta of 0.74. Nicolet Bankshares has a 52 week low of $114.11 and a 52 week high of $163.11. The business’s fifty day simple moving average is $151.38 and its 200 day simple moving average is $137.60.

Nicolet Bankshares (NYSE:NIC) last posted its quarterly earnings data on Tuesday, April 21st. The company reported $2.75 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.23). The company had revenue of $134.85 million for the quarter, compared to analyst estimates of $129.74 million. Nicolet Bankshares had a net margin of 21.89% and a return on equity of 13.92%. As a group, equities research analysts anticipate that Nicolet Bankshares will post 11.75 EPS for the current fiscal year.

Insiders Place Their Bets

In related 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold 13,036 shares of company stock worth $1,992,022 in the last quarter. Corporate insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Nicolet Bankshares

Several large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its holdings 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 worth $25,000 after purchasing an additional 197 shares during the period. Jones Financial Companies Lllp purchased a new position in shares of Nicolet Bankshares in the 3rd quarter worth about $43,000. Meeder Asset Management Inc. purchased a new position in shares of Nicolet Bankshares in the 4th quarter worth about $48,000. Clearstead Advisors LLC raised its holdings in shares of Nicolet Bankshares by 192.9% in the 4th quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock worth $55,000 after purchasing an additional 297 shares during the period. Finally, Parkside Financial Bank & Trust raised its holdings 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 worth $79,000 after purchasing an additional 183 shares during the period. 43.06% of the stock is currently owned by hedge funds and other institutional investors.

Nicolet Bankshares Company Profile

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.