Keefe, Bruyette & Woods Issues Positive Forecast for Nicolet Bankshares (NYSE:NIC) Stock Price

Nicolet Bankshares (NYSE:NIC) had its price target increased by Keefe, Bruyette & Woods from $175.00 to $185.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts have also recently commented on NIC. Raymond James Financial assumed coverage on Nicolet Bankshares in a report on Tuesday, June 23rd. They issued a “market perform” rating on the stock. Piper Sandler set a $194.00 target price on Nicolet Bankshares in a research note on Wednesday. Zacks Research upgraded Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Hovde Group decreased their price target on Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Finally, Weiss Ratings cut Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Nicolet Bankshares presently has a consensus rating of “Moderate Buy” and an average price target of $183.00.

Nicolet Bankshares Stock Performance

NYSE:NIC opened at $168.83 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.90 and a quick ratio of 0.91. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 19.16 and a beta of 0.65. The company’s 50-day moving average is $152.78 and its two-hundred day moving average is $148.95. Nicolet Bankshares has a 1-year low of $114.11 and a 1-year high of $173.48.

Nicolet Bankshares (NYSE:NIC) last posted its quarterly 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. The business had revenue of $177.75 million during the quarter, compared to analysts’ expectations of $171.93 million. Nicolet Bankshares had a net margin of 21.77% and a return on equity of 11.36%. Analysts forecast that Nicolet Bankshares will post 12.17 EPS for the current year.

Nicolet Bankshares Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its holdings in Nicolet Bankshares by 3,940.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock worth $25,000 after buying an additional 197 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Nicolet Bankshares in the fourth quarter worth $48,000. Clearstead Advisors LLC grew its stake 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 acquiring an additional 297 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Nicolet Bankshares by 151.9% during the first quarter. Parallel Advisors LLC now owns 607 shares of the company’s stock worth $90,000 after acquiring an additional 366 shares during the period. Finally, UMB Bank n.a. purchased a new stake in shares of Nicolet Bankshares during the fourth quarter worth $102,000. Institutional investors and hedge funds own 43.06% of the company’s stock.

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.