Nicolet Bankshares Inc. (NYSE:NIC) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Nicolet Bankshares Inc. (NYSE:NIC) have been given an average rating of “Buy” by the six analysts that are presently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $179.50.

NIC has been the subject of several analyst reports. Keefe, Bruyette & Woods upped their target price on shares of Nicolet Bankshares from $165.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, January 22nd. Maxim Group boosted their price objective on shares of Nicolet Bankshares from $161.00 to $173.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Zacks Research raised shares of Nicolet Bankshares from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 30th. Weiss Ratings restated a “buy (b)” rating on shares of Nicolet Bankshares in a research note on Thursday, January 22nd. Finally, Piper Sandler raised Nicolet Bankshares from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $148.00 to $185.00 in a research report on Thursday, February 19th.

Insiders Place Their Bets

In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 3,309 shares of Nicolet Bankshares stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $149.82, for a total transaction of $495,754.38. Following the sale, the director directly owned 34,054 shares in the company, valued at $5,101,970.28. The trade was a 8.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 13,036 shares of company stock worth $1,992,022. 16.40% of the stock is owned by company insiders.

Institutional Trading of Nicolet Bankshares

Several institutional investors have recently added to or reduced their stakes in NIC. First Trust Advisors LP increased its position in shares of Nicolet Bankshares by 50.6% in the 2nd quarter. First Trust Advisors LP now owns 519,013 shares of the company’s stock worth $64,088,000 after purchasing an additional 174,361 shares during the last quarter. American Century Companies Inc. grew its stake in Nicolet Bankshares by 485.7% in the second quarter. American Century Companies Inc. now owns 184,281 shares of the company’s stock worth $22,755,000 after purchasing an additional 152,817 shares in the last quarter. Millennium Management LLC bought a new stake in Nicolet Bankshares in the fourth quarter valued at about $7,949,000. JPMorgan Chase & Co. increased its holdings in Nicolet Bankshares by 247.1% in the fourth quarter. JPMorgan Chase & Co. now owns 82,920 shares of the company’s stock valued at $10,058,000 after buying an additional 59,031 shares during the last quarter. Finally, Boston Partners grew its position in shares of Nicolet Bankshares by 40.6% in the 3rd quarter. Boston Partners now owns 199,396 shares of the company’s stock worth $26,789,000 after acquiring an additional 57,536 shares in the last quarter. 43.06% of the stock is owned by institutional investors and hedge funds.

Nicolet Bankshares Stock Performance

Shares of NYSE:NIC opened at $139.66 on Tuesday. The business’s 50-day simple moving average is $147.52 and its 200 day simple moving average is $134.70. The company has a market cap of $2.07 billion, a P/E ratio of 14.25 and a beta of 0.77. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.97 and a current ratio of 0.97. Nicolet Bankshares has a one year low of $97.90 and a one year high of $163.11.

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

Nicolet Bankshares Dividend Announcement

The firm 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. This represents a $1.28 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Monday, March 2nd. Nicolet Bankshares’s dividend payout ratio (DPR) is 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.