Analysts Set Nicolet Bankshares Inc. (NYSE:NIC) Target Price at $176.50

Nicolet Bankshares Inc. (NYSE:NIC) has been assigned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $179.25.

Several research analysts have commented on the stock. Hovde Group dropped their price objective on shares of Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. Weiss Ratings lowered Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Raymond James Financial assumed coverage on Nicolet Bankshares in a research note on Tuesday, June 23rd. They set a “market perform” rating on the stock. Zacks Research upgraded Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Finally, Piper Sandler set a $194.00 price target on Nicolet Bankshares in a report on Wednesday.

Institutional Trading of Nicolet Bankshares

Several institutional investors and hedge funds have recently made changes to their positions in NIC. PDT Partners LLC boosted its position in Nicolet Bankshares by 1.8% during the 2nd quarter. PDT Partners LLC now owns 5,572 shares of the company’s stock valued at $688,000 after acquiring an additional 100 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Nicolet Bankshares by 4.9% in the 4th quarter. ProShare Advisors LLC now owns 2,424 shares of the company’s stock worth $294,000 after acquiring an additional 113 shares in the last quarter. LPL Financial LLC raised its position in shares of Nicolet Bankshares by 4.6% in the 4th quarter. LPL Financial LLC now owns 2,836 shares of the company’s stock worth $344,000 after acquiring an additional 126 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Nicolet Bankshares by 0.6% during the 4th quarter. Bank of Montreal Can now owns 23,181 shares of the company’s stock worth $2,829,000 after purchasing an additional 147 shares during the last quarter. Finally, Smith Group Asset Management LLC lifted its stake in shares of Nicolet Bankshares by 9.3% during the 1st quarter. Smith Group Asset Management LLC now owns 2,230 shares of the company’s stock worth $331,000 after purchasing an additional 189 shares during the last quarter. 43.06% of the stock is currently owned by institutional investors.

Nicolet Bankshares Price Performance

NYSE:NIC opened at $167.60 on Monday. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 19.02 and a beta of 0.65. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.91 and a quick ratio of 0.91. The business has a 50 day simple moving average of $152.22 and a 200-day simple moving average of $148.61. Nicolet Bankshares has a 1 year low of $114.11 and a 1 year high of $173.48.

Nicolet Bankshares (NYSE:NIC) last released its earnings results on Tuesday, July 21st. The company reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.14. Nicolet Bankshares had a return on equity of 12.61% and a net margin of 21.77%.The firm had revenue of $177.75 million for the quarter, compared to the consensus estimate of $171.93 million. Equities analysts forecast that Nicolet Bankshares will post 12.17 EPS for the current year.

Nicolet Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 1st. Nicolet Bankshares’s dividend payout ratio is 16.88%.

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.