Nicolet Bankshares (NYSE:NIC) Sets New 1-Year High – Should You Buy?

Shares of Nicolet Bankshares Inc. (NYSE:NIC) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $173.00 and last traded at $172.3150, with a volume of 76481 shares. The stock had previously closed at $165.53.

Analyst Ratings Changes

Several research firms have recently commented on NIC. Weiss Ratings cut Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Zacks Research raised shares of Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Piper Sandler reduced their price objective on shares of Nicolet Bankshares from $185.00 to $183.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 22nd. Hovde Group decreased their price objective on shares of Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Finally, Raymond James Financial initiated coverage on shares of Nicolet Bankshares in a research report on Tuesday, June 23rd. They issued a “market perform” rating for the company. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Nicolet Bankshares currently has a consensus rating of “Moderate Buy” and an average price target of $176.50.

Nicolet Bankshares Trading Up 4.3%

The stock has a market cap of $3.67 billion, a P/E ratio of 20.22 and a beta of 0.65. The firm’s 50 day simple moving average is $149.75 and its two-hundred day simple moving average is $146.98. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.08.

Nicolet Bankshares (NYSE:NIC) last posted its quarterly earnings results on Tuesday, April 21st. The company reported $2.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.23). Nicolet Bankshares had a return on equity of 11.48% and a net margin of 21.89%.The business had revenue of $134.85 million during the quarter, compared to the consensus estimate of $129.74 million. As a group, equities research analysts predict that Nicolet Bankshares Inc. will post 12.17 earnings per share for the current fiscal year.

Nicolet Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.36 dividend. This is an increase from Nicolet Bankshares’s previous quarterly dividend of $0.32. This represents a $1.44 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Monday, June 1st. Nicolet Bankshares’s dividend payout ratio is 16.88%.

Hedge Funds Weigh In On Nicolet Bankshares

Several institutional investors have recently made changes to their positions in NIC. EverSource Wealth Advisors LLC lifted its holdings in shares of Nicolet Bankshares by 3,940.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock worth $25,000 after purchasing an additional 197 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Nicolet Bankshares in the fourth quarter valued at $48,000. Clearstead Advisors LLC lifted its stake in Nicolet Bankshares by 192.9% in the fourth quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock valued at $55,000 after buying an additional 297 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Nicolet Bankshares by 151.9% during the first quarter. Parallel Advisors LLC now owns 607 shares of the company’s stock valued at $90,000 after acquiring an additional 366 shares during the period. Finally, UMB Bank n.a. acquired a new position in shares of Nicolet Bankshares during the fourth quarter valued at $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.