Nicolet Bankshares (NYSE:NIC) Reaches New 12-Month High – What’s Next?

Shares of Nicolet Bankshares Inc. (NYSE:NIC) hit a new 52-week high during trading on Friday . The company traded as high as $163.72 and last traded at $163.2210, with a volume of 750614 shares traded. The stock had previously closed at $161.35.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NIC shares. Hovde Group lowered their price objective on shares of Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Weiss Ratings downgraded shares of Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Piper Sandler decreased their price target on shares of Nicolet Bankshares from $185.00 to $183.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 22nd. Zacks Research upgraded shares of Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Finally, Raymond James Financial began coverage on shares of Nicolet Bankshares in a research report on Tuesday. They set a “market perform” rating for the company. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $176.50.

Nicolet Bankshares Price Performance

The stock has a fifty day moving average of $145.60 and a two-hundred day moving average of $143.58. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 19.13 and a beta of 0.67.

Nicolet Bankshares (NYSE:NIC) last posted its quarterly earnings data on Tuesday, April 21st. The company reported $2.75 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.23). The business had revenue of $134.85 million during the quarter, compared to analyst estimates of $129.74 million. Nicolet Bankshares had a return on equity of 11.48% and a net margin of 21.89%. As a group, equities research analysts forecast that Nicolet Bankshares Inc. will post 11.75 earnings per share for the current year.

Nicolet Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.44 dividend on an annualized basis and a yield of 0.9%. This is an increase from Nicolet Bankshares’s previous quarterly dividend of $0.32. Nicolet Bankshares’s payout ratio is currently 16.88%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NIC. Royal Bank of Canada boosted its position in Nicolet Bankshares by 150.8% in the 1st quarter. Royal Bank of Canada now owns 13,987 shares of the company’s stock valued at $1,524,000 after buying an additional 8,410 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Nicolet Bankshares by 15.2% during the first quarter. AQR Capital Management LLC now owns 11,819 shares of the company’s stock valued at $1,288,000 after acquiring an additional 1,557 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Nicolet Bankshares by 6.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,134 shares of the company’s stock valued at $886,000 after acquiring an additional 517 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Nicolet Bankshares by 6.9% in the first 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 acquiring an additional 1,922 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted 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 valued at $25,000 after acquiring an additional 197 shares during the last quarter. Institutional investors and hedge funds 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 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.