Nicolet Bankshares (NYSE:NIC) Price Target Cut to $82.50

Nicolet Bankshares (NYSE:NIC) had its target price decreased by equities research analysts at Piper Sandler from $88.00 to $82.50 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 8.04% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on NIC. Stephens reissued an “equal weight” rating and set a $92.00 price objective on shares of Nicolet Bankshares in a report on Wednesday. Keefe, Bruyette & Woods lifted their price target on Nicolet Bankshares from $84.00 to $85.00 and gave the stock a “market perform” rating in a research note on Thursday, January 18th. TheStreet raised Nicolet Bankshares from a “c+” rating to a “b” rating in a research note on Wednesday, January 17th. Finally, Hovde Group raised Nicolet Bankshares from a “market perform” rating to an “outperform” rating in a research note on Monday, March 4th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Nicolet Bankshares has a consensus rating of “Hold” and an average price target of $88.63.

Nicolet Bankshares Price Performance

Shares of NYSE:NIC traded down $1.35 on Wednesday, hitting $76.36. The company’s stock had a trading volume of 39,049 shares, compared to its average volume of 38,637. The company has a market capitalization of $1.13 billion, a PE ratio of 18.53 and a beta of 0.74. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.95 and a quick ratio of 0.95. Nicolet Bankshares has a 1 year low of $51.76 and a 1 year high of $86.86. The company has a 50-day simple moving average of $80.50 and a 200 day simple moving average of $77.68.

Nicolet Bankshares (NYSE:NIC) last announced its quarterly earnings data on Tuesday, January 16th. The company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.12. The company had revenue of $89.20 million for the quarter, compared to analysts’ expectations of $78.30 million. Nicolet Bankshares had a return on equity of 9.71% and a net margin of 14.69%. Sell-side analysts forecast that Nicolet Bankshares will post 6.93 EPS for the current fiscal year.

Insider Transactions at Nicolet Bankshares

In related news, Director Robert Bruce Atwell sold 2,000 shares of Nicolet Bankshares stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $81.93, for a total transaction of $163,860.00. Following the sale, the director now directly owns 42,889 shares in the company, valued at $3,513,895.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 2,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $81.93, for a total value of $163,860.00. Following the sale, the director now directly owns 42,889 shares of the company’s stock, valued at $3,513,895.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Eric James Witczak sold 2,053 shares of the business’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $82.45, for a total value of $169,269.85. Following the completion of the sale, the executive vice president now directly owns 41,427 shares in the company, valued at $3,415,656.15. The disclosure for this sale can be found here. Corporate insiders own 16.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NIC. UBS Group AG purchased a new stake in Nicolet Bankshares during the fourth quarter valued at $417,000. Citigroup Inc. purchased a new stake in Nicolet Bankshares during the fourth quarter valued at $35,000. Advisor Group Holdings Inc. purchased a new stake in Nicolet Bankshares during the fourth quarter valued at $1,390,000. Victory Capital Management Inc. purchased a new stake in Nicolet Bankshares during the fourth quarter valued at $401,000. Finally, Amalgamated Bank bought a new stake in Nicolet Bankshares during the fourth quarter valued at about $131,000. Hedge funds and other institutional investors own 43.06% of the company’s stock.

About Nicolet Bankshares

Nicolet Bankshares, Inc operates as the bank holding company for Nicolet National Bank that provides banking products and services for businesses and individuals in Wisconsin and Michigan. The company accepts checking, savings, and money market accounts; various certificates of deposit; and individual retirement accounts.