Nicolet Bankshares (NYSE:NIC) Hits New 1-Year High – Time to Buy?

Nicolet Bankshares Inc. (NYSE:NIC) hit a new 52-week high during trading on Tuesday . The stock traded as high as $176.79 and last traded at $176.74, with a volume of 78655 shares traded. The stock had previously closed at $173.34.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Piper Sandler set a $194.00 price objective on Nicolet Bankshares in a research report on Wednesday, July 22nd. Keefe, Bruyette & Woods boosted their target price on shares of Nicolet Bankshares from $175.00 to $185.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Raymond James Financial initiated coverage on shares of Nicolet Bankshares in a research note on Tuesday, June 23rd. They set a “market perform” rating for the company. Weiss Ratings raised shares of Nicolet Bankshares from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, August 3rd. Finally, Zacks Research upgraded shares of Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $183.00.

Nicolet Bankshares Stock Performance

The company has a market capitalization of $3.74 billion, a P/E ratio of 20.40 and a beta of 0.65. The firm has a 50 day moving average price of $162.02 and a two-hundred day moving average price of $153.14. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.90 and a current ratio of 0.90.

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

Nicolet Bankshares Dividend Announcement

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

Insiders Place Their Bets

In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 2,662 shares of Nicolet Bankshares stock in a transaction on Friday, July 24th. The stock was sold at an average price of $170.24, for a total transaction of $453,178.88. Following the completion of the transaction, the director directly owned 34,483 shares of the company’s stock, valued at approximately $5,870,385.92. This trade represents a 7.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Eric James Witczak sold 1,215 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president owned 33,630 shares in the company, valued at $5,646,140.70. This represents a 3.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 4,219 shares of company stock valued at $715,976. Company insiders own 7.20% of the company’s stock.

Institutional Trading of Nicolet Bankshares

Several large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in shares of Nicolet Bankshares by 150.8% in the first quarter. Royal Bank of Canada now owns 13,987 shares of the company’s stock valued at $1,524,000 after acquiring an additional 8,410 shares during the last quarter. AQR Capital Management LLC grew its position in Nicolet Bankshares by 15.2% during the 1st quarter. AQR Capital Management LLC now owns 11,819 shares of the company’s stock worth $1,288,000 after acquiring an additional 1,557 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Nicolet Bankshares by 6.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,134 shares of the company’s stock valued at $886,000 after purchasing an additional 517 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Nicolet Bankshares by 6.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 29,778 shares of the company’s stock valued at $3,245,000 after purchasing an additional 1,922 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Nicolet Bankshares by 3,940.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock valued at $25,000 after purchasing an additional 197 shares during the last quarter. 43.06% of the stock is owned by institutional investors.

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.