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

Nicolet Bankshares Inc. (NYSE:NIC) has received a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $183.00.

Several brokerages recently issued reports on NIC. Weiss Ratings raised shares of Nicolet Bankshares from a “buy (b+)” rating to a “buy (a)” rating in a report on Monday, September 14th. Keefe, Bruyette & Woods upped their price target on shares of Nicolet Bankshares from $175.00 to $185.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Piper Sandler set a $194.00 price target on Nicolet Bankshares in a research report on Wednesday, July 22nd. Raymond James Financial began coverage on Nicolet Bankshares in a research note on Tuesday, June 23rd. They set a “market perform” rating for the company. Finally, Zacks Research raised Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd.

Insider Buying and Selling

In other Nicolet Bankshares news, Director Robert Atwell sold 2,662 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $170.24, for a total value of $453,178.88. Following the sale, the director owned 34,483 shares in the company, valued at approximately $5,870,385.92. This represents a 7.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Eric Witczak sold 1,215 shares of Nicolet Bankshares stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $167.89, for a total transaction of $203,986.35. Following the transaction, the executive vice president directly owned 33,630 shares of the company’s stock, valued at approximately $5,646,140.70. This trade represents a 3.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,219 shares of company stock valued at $715,976 over the last three months. 7.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its holdings in Nicolet Bankshares by 151.9% in the first quarter. Parallel Advisors LLC now owns 607 shares of the company’s stock valued at $90,000 after purchasing an additional 366 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Nicolet Bankshares by 82.1% in the first quarter. EverSource Wealth Advisors LLC now owns 630 shares of the company’s stock valued at $94,000 after buying an additional 284 shares in the last quarter. KBC Group NV raised its stake in shares of Nicolet Bankshares by 42.5% during the 1st quarter. KBC Group NV now owns 842 shares of the company’s stock worth $125,000 after buying an additional 251 shares during the period. Nykredit A S acquired a new position in shares of Nicolet Bankshares during the 2nd quarter worth approximately $143,000. Finally, Two Sigma Securities LLC purchased a new position in shares of Nicolet Bankshares during the 2nd quarter valued at approximately $205,000. Hedge funds and other institutional investors own 43.06% of the company’s stock.

Nicolet Bankshares Stock Performance

Shares of NIC stock opened at $161.86 on Friday. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 18.37 and a beta of 0.64. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.90 and a quick ratio of 0.90. The business has a fifty day moving average of $170.42 and a 200 day moving average of $158.40. Nicolet Bankshares has a 1 year low of $114.11 and a 1 year high of $180.00.

Nicolet Bankshares (NYSE:NIC) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.14. Nicolet Bankshares had a return on equity of 11.36% and a net margin of 21.77%.The business had revenue of $177.75 million for the quarter, compared to the consensus estimate of $171.93 million. As a group, research analysts expect that Nicolet Bankshares will post 12.21 earnings per share for the current year.

Nicolet Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.9%. The ex-dividend date was Tuesday, September 1st. Nicolet Bankshares’s dividend payout ratio (DPR) is currently 16.35%.

About Nicolet Bankshares

Nicolet Bankshares, Inc is the bank holding company for Nicolet National Bank, a community-focused financial institution headquartered in Green Bay, Wisconsin. Founded in 2000, Nicolet National Bank serves businesses, individuals, families and communities through a network of locations primarily in Wisconsin and portions of Michigan.

The bank provides commercial and small-business banking services, including business checking and savings accounts, commercial loans, lines of credit, equipment financing, treasury management and cash-management solutions.