Nicolet Bankshares Inc. (NYSE:NIC) Given Average Recommendation of “Moderate Buy” by Brokerages

Nicolet Bankshares Inc. (NYSE:NIC) has earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $183.00.

A number of analysts recently commented on NIC shares. Weiss Ratings upgraded Nicolet Bankshares from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, August 3rd. Zacks Research upgraded shares of Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Keefe, Bruyette & Woods raised their target price on shares of Nicolet Bankshares from $175.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Piper Sandler set a $194.00 price target on shares of Nicolet Bankshares in a research report on Wednesday, July 22nd. Finally, Raymond James Financial began coverage on shares of Nicolet Bankshares in a research note on Tuesday, June 23rd. They set a “market perform” rating for the company.

Nicolet Bankshares Stock Down 0.8%

Shares of NIC opened at $176.54 on Friday. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 20.04 and a beta of 0.65. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.90 and a current ratio of 0.90. The business’s fifty day moving average price is $164.95 and its two-hundred day moving average price is $154.14. Nicolet Bankshares has a 52 week low of $114.11 and a 52 week high of $180.00.

Nicolet Bankshares (NYSE:NIC) last released its earnings results on Tuesday, July 21st. The company reported $2.99 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.14. Nicolet Bankshares had a return on equity of 11.36% and a net margin of 21.77%.The company had revenue of $177.75 million during the quarter, compared to the consensus estimate of $171.93 million. On average, analysts predict that Nicolet Bankshares will post 12.3 earnings per share for the current year.

Nicolet Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 1st. Nicolet Bankshares’s payout ratio is currently 16.35%.

Insider Buying and Selling at Nicolet Bankshares

In other news, Director Robert Bruce Atwell sold 2,662 shares of the firm’s stock in a transaction 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 transaction, the director directly owned 34,483 shares in the company, valued at $5,870,385.92. This trade represents a 7.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Eric James Witczak sold 342 shares of Nicolet Bankshares stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $171.96, for a total value of $58,810.32. Following the sale, the executive vice president directly owned 33,288 shares of the company’s stock, valued at approximately $5,724,204.48. This trade represents a 1.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 4,219 shares of company stock valued at $715,976 in the last quarter. Corporate insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Nicolet Bankshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its holdings in Nicolet Bankshares by 3,940.0% in the second 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 period. Meeder Asset Management Inc. bought a new stake in shares of Nicolet Bankshares in the 4th quarter valued at $48,000. Clearstead Advisors LLC increased its position in shares of Nicolet Bankshares by 192.9% in the 4th quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock valued at $55,000 after buying an additional 297 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Nicolet Bankshares by 151.9% in the 1st quarter. Parallel Advisors LLC now owns 607 shares of the company’s stock valued at $90,000 after buying an additional 366 shares in the last quarter. Finally, UMB Bank n.a. acquired a new stake in Nicolet Bankshares during the 4th quarter worth $102,000. Institutional investors own 43.06% of the company’s stock.

About Nicolet Bankshares

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.