Brokerages Set Nicolet Bankshares Inc. (NYSE:NIC) Target Price at $179.50

Shares of Nicolet Bankshares Inc. (NYSE:NIC) have earned a consensus recommendation of “Buy” from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $179.50.

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

Insider Activity at Nicolet Bankshares

In other news, Director Robert Bruce Atwell sold 6,396 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $155.47, for a total transaction of $994,386.12. Following the completion of the transaction, the director directly owned 34,054 shares in the company, valued at approximately $5,294,375.38. This represents a 15.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 13,036 shares of company stock valued at $1,992,022. Corporate insiders own 14.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NIC. First Trust Advisors LP raised its stake 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 valued at $64,088,000 after acquiring an additional 174,361 shares during the period. American Century Companies Inc. boosted its position in shares of Nicolet Bankshares by 485.7% during the 2nd 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 during the period. Millennium Management LLC purchased a new position in shares of Nicolet Bankshares during the 4th quarter worth approximately $7,949,000. JPMorgan Chase & Co. increased its holdings in Nicolet Bankshares by 247.1% in the 4th quarter. JPMorgan Chase & Co. now owns 82,920 shares of the company’s stock valued at $10,058,000 after purchasing an additional 59,031 shares during the last quarter. Finally, Boston Partners increased its holdings in Nicolet Bankshares by 40.6% in the 3rd quarter. Boston Partners now owns 199,396 shares of the company’s stock valued at $26,789,000 after purchasing an additional 57,536 shares during the last quarter. Institutional investors and hedge funds own 43.06% of the company’s stock.

Nicolet Bankshares Price Performance

NIC stock opened at $142.40 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.97. The business has a 50 day simple moving average of $147.85 and a 200-day simple moving average of $134.73. The firm has a market capitalization of $3.04 billion, a PE ratio of 14.53 and a beta of 0.77. Nicolet Bankshares has a 1 year low of $97.90 and a 1 year high of $163.11.

Nicolet Bankshares (NYSE:NIC) last announced its quarterly earnings data on Tuesday, January 20th. The company reported $2.73 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.18. The firm had revenue of $103.99 million for the quarter, compared to the consensus estimate of $79.67 million. Nicolet Bankshares had a return on equity of 12.49% and a net margin of 26.98%. Equities research analysts anticipate that Nicolet Bankshares will post 8.18 earnings per share for the current fiscal year.

Nicolet Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were given a $0.32 dividend. The ex-dividend date was Monday, March 2nd. This represents a $1.28 dividend on an annualized basis and a yield of 0.9%. Nicolet Bankshares’s payout ratio is currently 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.