Nicolet Bankshares (NYSE:NIC) Price Target Raised to $185.00

Nicolet Bankshares (NYSE:NIC) had its target price upped by Keefe, Bruyette & Woods from $175.00 to $185.00 in a report released on Thursday,Benzinga reports. The firm currently has an outperform rating on the stock.

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

Nicolet Bankshares Stock Performance

Shares of NIC stock opened at $169.77 on Thursday. The company has a quick ratio of 0.91, a current ratio of 0.90 and a debt-to-equity ratio of 0.04. The business has a 50 day moving average of $153.43 and a two-hundred day moving average of $149.10. Nicolet Bankshares has a 52 week low of $114.11 and a 52 week high of $173.48. The company has a market cap of $3.61 billion, a P/E ratio of 19.27 and a beta of 0.65.

Nicolet Bankshares (NYSE:NIC) last posted its earnings results on Tuesday, July 21st. The company reported $2.99 EPS for the quarter, beating the consensus estimate of $2.85 by $0.14. The company had revenue of $177.75 million during the quarter, compared to analyst estimates of $171.93 million. Nicolet Bankshares had a return on equity of 11.36% and a net margin of 21.77%. As a group, analysts anticipate that Nicolet Bankshares will post 12.3 EPS for the current year.

Nicolet Bankshares Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Tuesday, September 1st. This represents a $1.44 annualized dividend and a dividend yield of 0.8%. Nicolet Bankshares’s payout ratio is currently 16.35%.

Hedge Funds Weigh In On Nicolet Bankshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its position in Nicolet Bankshares by 3,940.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock valued at $25,000 after acquiring an additional 197 shares during the period. Meeder Asset Management Inc. acquired a new position in Nicolet Bankshares during the 4th quarter worth $48,000. Clearstead Advisors LLC boosted its position in Nicolet Bankshares by 192.9% during the 4th quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock worth $55,000 after acquiring an additional 297 shares during the period. Parallel Advisors LLC grew its stake in shares of Nicolet Bankshares by 151.9% in the first quarter. Parallel Advisors LLC now owns 607 shares of the company’s stock worth $90,000 after purchasing an additional 366 shares in the last quarter. Finally, UMB Bank n.a. bought a new position in shares of Nicolet Bankshares in the fourth quarter worth $102,000. 43.06% of the stock is owned by institutional investors.

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.