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

Nicolet Bankshares Inc. (NYSE:NIC) has received a consensus rating of “Buy” from the six analysts that are presently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $179.50.

NIC has been the subject of several research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Nicolet Bankshares in a research note on Thursday, January 22nd. Piper Sandler raised shares of Nicolet Bankshares from a “neutral” rating to an “overweight” rating and upped their price target for the company from $148.00 to $185.00 in a report on Thursday, February 19th. Zacks Research upgraded shares of Nicolet Bankshares from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 30th. Hovde Group reissued an “outperform” rating and set a $190.00 price objective on shares of Nicolet Bankshares in a report on Tuesday, January 27th. Finally, Maxim Group upped their target price on shares of Nicolet Bankshares from $161.00 to $173.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd.

Insider Buying and Selling

In other news, Director Robert Bruce Atwell sold 6,396 shares of Nicolet Bankshares stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $155.47, for a total value of $994,386.12. Following the completion of the transaction, the director owned 34,054 shares in the company, valued at approximately $5,294,375.38. This trade represents a 15.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 13,036 shares of company stock worth $1,992,022. Company insiders own 16.40% of the company’s stock.

Hedge Funds Weigh In On Nicolet Bankshares

Large investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in shares of Nicolet Bankshares by 3,940.0% during the second 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 bought a new position in shares of Nicolet Bankshares in the 3rd quarter worth about $43,000. Meeder Asset Management Inc. acquired a new position in shares of Nicolet Bankshares in the 4th quarter valued at about $48,000. Clearstead Advisors LLC grew its position in shares of Nicolet Bankshares by 192.9% during the 4th quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock valued at $55,000 after buying an additional 297 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its position in shares of Nicolet Bankshares by 45.1% during the 3rd quarter. Parkside Financial Bank & Trust now owns 589 shares of the company’s stock valued at $79,000 after buying an additional 183 shares during the last quarter. 43.06% of the stock is currently owned by institutional investors.

Nicolet Bankshares Trading Up 0.9%

NYSE:NIC opened at $141.66 on Tuesday. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 14.45 and a beta of 0.77. Nicolet Bankshares has a one year low of $97.90 and a one year high of $163.11. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.97 and a current ratio of 0.97. The business’s 50-day simple moving average is $147.20 and its 200 day simple moving average is $134.71.

Nicolet Bankshares (NYSE:NIC) last issued its quarterly earnings data on Tuesday, January 20th. The company reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.18. Nicolet Bankshares had a return on equity of 12.49% and a net margin of 26.98%.The firm had revenue of $103.99 million during the quarter, compared to analyst estimates of $79.67 million. As a group, sell-side analysts predict that Nicolet Bankshares will post 8.18 earnings per share for the current fiscal year.

Nicolet Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a dividend of $0.32 per share. The ex-dividend date was Monday, March 2nd. This represents a $1.28 annualized dividend and a yield of 0.9%. Nicolet Bankshares’s dividend payout ratio is presently 13.06%.

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.