Nicolet Bankshares Inc. (NYSE:NIC) Stock Has Average Target Price of $184.80 According to Analysts

Shares of Nicolet Bankshares Inc. (NYSE:NIC) have been given an average rating of “Moderate Buy” by the eight research firms that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $184.80.

Several equities research analysts have recently weighed in on NIC shares. Piper Sandler increased their target price on shares of Nicolet Bankshares from $194.00 to $196.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 21st. Weiss Ratings lowered Nicolet Bankshares from a “buy (a+)” rating to a “buy (a)” rating in a report on Friday. Stephens boosted their price target on Nicolet Bankshares from $185.00 to $190.00 and gave the company an “equal weight” rating in a research report on Friday, October 23rd. Finally, Keefe, Bruyette & Woods upped their price objective on Nicolet Bankshares from $175.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd.

Nicolet Bankshares Stock Performance

Shares of Nicolet Bankshares stock opened at $173.28 on Wednesday. Nicolet Bankshares has a 1 year low of $114.11 and a 1 year high of $180.00. The company has a market capitalization of $3.63 billion, a P/E ratio of 19.17 and a beta of 0.64. The company’s fifty day moving average is $168.03 and its two-hundred day moving average is $156.21.

Nicolet Bankshares (NYSE:NIC) last posted its quarterly earnings data on Tuesday, October 20th. The company reported $3.15 EPS for the quarter, beating analysts’ consensus estimates of $3.07 by $0.08. The business had revenue of $174.43 million during the quarter, compared to analyst estimates of $173.64 million. As a group, equities analysts expect that Nicolet Bankshares will post 12.10 earnings per share for the current year.

Nicolet Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, December 1st. Nicolet Bankshares’s dividend payout ratio (DPR) is 15.93%.

Insider Buying and Selling at Nicolet Bankshares

In other news, Director Robert Atwell sold 3,556 shares of the business’s stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $171.22, for a total value of $608,858.32. Following the transaction, the director owned 34,483 shares of the company’s stock, valued at approximately $5,904,179.26. The trade was a 9.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Nicolet Bankshares

Large investors have recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in shares of Nicolet Bankshares by 86.3% during the second quarter. BlackRock Inc. now owns 3,027,246 shares of the company’s stock worth $500,676,000 after purchasing an additional 1,402,419 shares during the period. State Street Corp grew its position in Nicolet Bankshares by 65.1% in the 2nd quarter. State Street Corp now owns 1,174,560 shares of the company’s stock valued at $194,244,000 after buying an additional 463,199 shares during the last quarter. Jennison Associates LLC purchased a new position in Nicolet Bankshares in the 1st quarter valued at $31,794,000. Dimensional Fund Advisors LP grew its position in Nicolet Bankshares by 32.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 819,274 shares of the company’s stock valued at $121,756,000 after buying an additional 198,997 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in Nicolet Bankshares in the 2nd quarter valued at $30,896,000. Hedge funds and other institutional investors own 43.06% of the company’s stock.

Nicolet Bankshares Company Profile

Nicolet Bankshares, Inc is a bank holding company headquartered in Green Bay, Wisconsin. Through its principal subsidiary, Nicolet National Bank, the company provides banking and financial services to individuals, families, businesses and organizations.

Nicolet National Bank offers commercial and consumer lending, deposit accounts, residential and commercial real estate financing, treasury management and other business banking services. Its offerings also include wealth management, trust and investment services, mortgage banking and related financial solutions.

Founded in 2000, Nicolet has built a community-banking franchise serving customers primarily in Wisconsin and neighboring market areas.