Nicolet Bankshares’ (NIC) Equal Weight Rating Reaffirmed at Stephens

Stephens reaffirmed their equal weight rating on shares of Nicolet Bankshares (NYSE:NIC) in a research report released on Wednesday, Benzinga reports. Stephens currently has a $92.00 price objective on the stock.

A number of other research firms also recently issued reports on NIC. Hovde Group upgraded shares of Nicolet Bankshares from a market perform rating to an outperform rating in a report on Monday, March 4th. Piper Sandler reiterated a neutral rating and issued a $84.00 target price on shares of Nicolet Bankshares in a research note on Wednesday, January 10th. Keefe, Bruyette & Woods lifted 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, TheStreet upgraded shares of Nicolet Bankshares from a c+ rating to a b rating in a research note on Wednesday, January 17th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $87.88.

Nicolet Bankshares Stock Performance

NYSE NIC opened at $79.90 on Wednesday. Nicolet Bankshares has a 52-week low of $51.76 and a 52-week high of $86.86. The company has a 50-day simple moving average of $80.62 and a 200 day simple moving average of $77.80. 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 capitalization of $1.19 billion, a PE ratio of 12.31 and a beta of 0.74.

Nicolet Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 8th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.25%. Nicolet Bankshares’s dividend payout ratio (DPR) is currently 15.41%.

Insider Activity

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

Institutional Investors Weigh In On Nicolet Bankshares

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in Nicolet Bankshares by 3.3% during the second quarter. BlackRock Inc. now owns 963,503 shares of the company’s stock valued at $65,431,000 after purchasing an additional 31,229 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Nicolet Bankshares by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 697,725 shares of the company’s stock worth $56,153,000 after acquiring an additional 17,539 shares during the last quarter. FMR LLC lifted its holdings in shares of Nicolet Bankshares by 54.2% in the 3rd quarter. FMR LLC now owns 556,958 shares of the company’s stock worth $38,865,000 after acquiring an additional 195,707 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Nicolet Bankshares by 3.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 542,091 shares of the company’s stock worth $43,629,000 after acquiring an additional 20,299 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Nicolet Bankshares by 4.3% in the 2nd quarter. State Street Corp now owns 336,251 shares of the company’s stock worth $22,835,000 after acquiring an additional 13,838 shares during the last quarter. 43.06% of the stock is currently owned by institutional investors.

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.