Piper Sandler Cuts Nicolet Bankshares (NYSE:NIC) Price Target to $82.50

Nicolet Bankshares (NYSE:NIC) had its target price trimmed by Piper Sandler from $88.00 to $82.50 in a research note published on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other brokerages have also issued reports on NIC. Stephens reissued an equal weight rating and issued a $92.00 price objective on shares of Nicolet Bankshares in a report on Wednesday. TheStreet raised shares of Nicolet Bankshares from a c+ rating to a b rating in a research note on Wednesday, January 17th. Keefe, Bruyette & Woods increased their target price on shares of Nicolet Bankshares from $84.00 to $85.00 and gave the stock a market perform rating in a research note on Thursday, January 18th. Finally, Hovde Group raised shares of Nicolet Bankshares from a market perform rating to an outperform rating in a research note on Monday, March 4th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Nicolet Bankshares has an average rating of Hold and an average target price of $87.88.

Nicolet Bankshares Trading Up 3.8 %

Shares of NIC opened at $79.90 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.16. Nicolet Bankshares has a 12-month low of $51.76 and a 12-month high of $86.86. The firm has a 50-day moving average price of $80.62 and a 200 day moving average price of $77.74. The firm has a market capitalization of $1.19 billion, a P/E ratio of 12.31 and a beta of 0.74.

Nicolet Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 8th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.00 annualized dividend and a dividend yield of 1.25%. Nicolet Bankshares’s dividend payout ratio is presently 15.41%.

Insider Transactions at Nicolet Bankshares

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

Institutional Trading of Nicolet Bankshares

Hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN acquired a new stake in Nicolet Bankshares in the fourth quarter valued at approximately $35,000. Citigroup Inc. acquired a new stake in Nicolet Bankshares in the fourth quarter valued at approximately $35,000. Metropolitan Life Insurance Co NY acquired a new stake in Nicolet Bankshares in the fourth quarter valued at approximately $58,000. Tower Research Capital LLC TRC raised its holdings in Nicolet Bankshares by 92.8% in the second quarter. Tower Research Capital LLC TRC now owns 912 shares of the company’s stock valued at $62,000 after acquiring an additional 439 shares in the last quarter. Finally, Harbour Investments Inc. raised its holdings in Nicolet Bankshares by 14.7% in the fourth quarter. Harbour Investments Inc. now owns 1,569 shares of the company’s stock valued at $126,000 after acquiring an additional 201 shares in the last quarter. Institutional investors and hedge funds own 43.06% of the company’s stock.

Nicolet Bankshares Company Profile

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.