Keefe, Bruyette & Woods Boosts Nicolet Bankshares (NYSE:NIC) Price Target to $86.00

Nicolet Bankshares (NYSE:NIC) had its target price upped by stock analysts at Keefe, Bruyette & Woods from $85.00 to $86.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 12.24% from the stock’s previous close.

Several other research analysts have also issued reports on NIC. Piper Sandler dropped their price target on shares of Nicolet Bankshares from $88.00 to $82.50 and set a “neutral” rating for the company in a research report on Wednesday. Stephens restated an “equal weight” rating and issued a $92.00 target price on shares of Nicolet Bankshares in a research note on Wednesday. TheStreet upgraded shares of Nicolet Bankshares from a “c+” rating to a “b” rating in a research report on Wednesday, January 17th. Finally, Hovde Group upgraded Nicolet Bankshares from a “market perform” rating to an “outperform” rating in a research report on Monday, March 4th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $88.88.

Nicolet Bankshares Stock Up 0.9 %

Shares of NIC traded up $0.66 during trading hours on Thursday, hitting $76.62. 1,866 shares of the company were exchanged, compared to its average volume of 38,645. The firm’s 50 day moving average is $80.52 and its 200-day moving average is $77.66. Nicolet Bankshares has a 52 week low of $51.76 and a 52 week high of $86.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market cap of $1.14 billion, a PE ratio of 11.69 and a beta of 0.74.

Nicolet Bankshares (NYSE:NIC) last announced its earnings results on Tuesday, January 16th. The company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.12. Nicolet Bankshares had a net margin of 20.60% and a return on equity of 10.07%. The business had revenue of $89.20 million for the quarter, compared to analyst estimates of $78.30 million. On average, equities research analysts forecast that Nicolet Bankshares will post 6.93 EPS for the current fiscal year.

Insider Activity

In other news, EVP Eric James Witczak sold 2,053 shares of Nicolet Bankshares stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $82.45, for a total value of $169,269.85. Following the completion of the transaction, the executive vice president now owns 41,427 shares of the company’s stock, valued at approximately $3,415,656.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Eric James Witczak sold 2,053 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $82.45, for a total value of $169,269.85. Following the transaction, the executive vice president now directly owns 41,427 shares in the company, valued at $3,415,656.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Bruce Atwell sold 2,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $81.93, for a total transaction of $163,860.00. Following the transaction, the director now owns 42,889 shares in the company, valued at approximately $3,513,895.77. The disclosure for this sale can be found here. 16.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nicolet Bankshares

Hedge funds and other institutional investors have recently modified their holdings of the business. UBS Group AG acquired a new stake in Nicolet Bankshares in the fourth quarter valued at approximately $417,000. Citigroup Inc. acquired a new stake in shares of Nicolet Bankshares during the fourth quarter valued at about $35,000. Advisor Group Holdings Inc. acquired a new position in shares of Nicolet Bankshares in the fourth quarter valued at approximately $1,390,000. Victory Capital Management Inc. acquired a new stake in Nicolet Bankshares during the 4th quarter worth approximately $401,000. Finally, Amalgamated Bank acquired a new position in Nicolet Bankshares in the 4th quarter valued at approximately $131,000. Institutional investors own 43.06% of the company’s stock.

About Nicolet Bankshares

Nicolet Bankshares, Inc operates as the bank holding company for Nicolet National Bank that provides banking products and services for businesses and individuals in Wisconsin and Michigan. The company accepts checking, savings, and money market accounts; various certificates of deposit; and individual retirement accounts.