Stephens Issues Positive Forecast for Nicolet Bankshares (NYSE:NIC) Stock Price

Nicolet Bankshares (NYSE:NIC) had its price objective hoisted by research analysts at Stephens from $185.00 to $190.00 in a report issued on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Stephens‘s target price would indicate a potential upside of 12.11% from the stock’s previous close.

Several other research firms have also issued reports on NIC. Piper Sandler lifted their price objective on Nicolet Bankshares from $194.00 to $196.00 and gave the company an “overweight” rating in a research note on Wednesday. Keefe, Bruyette & Woods upped their target price on Nicolet Bankshares from $175.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Finally, Weiss Ratings raised Nicolet Bankshares from a “buy (a)” rating to a “buy (a+)” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $184.80.

Nicolet Bankshares Stock Up 2.3%

Shares of NYSE:NIC opened at $169.47 on Friday. The firm has a fifty day moving average price of $168.26 and a two-hundred day moving average price of $159.79. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.90 and a quick ratio of 0.90. Nicolet Bankshares has a one year low of $114.11 and a one year high of $180.00. The company has a market cap of $3.55 billion, a price-to-earnings ratio of 18.75 and a beta of 0.64.

Nicolet Bankshares (NYSE:NIC) last released its quarterly earnings results on Tuesday, October 20th. The company reported $3.15 EPS for the quarter, beating analysts’ consensus estimates of $3.07 by $0.08. The firm had revenue of $174.43 million during the quarter, compared to analyst estimates of $173.64 million. Nicolet Bankshares had a net margin of 22.11% and a return on equity of 11.71%. Analysts anticipate that Nicolet Bankshares will post 12.10 EPS for the current fiscal year.

Insider Activity at Nicolet Bankshares

In other news, EVP Eric Witczak sold 1,215 shares of the firm’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 sale, the executive vice president owned 33,630 shares in the company, valued at approximately $5,646,140.70. This trade represents a 3.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 7.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC increased its stake in Nicolet Bankshares by 58.0% in the third quarter. Sterling Capital Management LLC now owns 474 shares of the company’s stock valued at $77,000 after acquiring an additional 174 shares during the last quarter. Genesee Capital Advisors LLC bought a new stake in Nicolet Bankshares during the third quarter worth about $262,000. State Street Corp lifted its stake in Nicolet Bankshares by 65.1% during the second quarter. State Street Corp now owns 1,174,560 shares of the company’s stock worth $194,244,000 after purchasing an additional 463,199 shares during the last quarter. Tidal Investments LLC bought a new stake in Nicolet Bankshares during the second quarter worth about $607,000. Finally, Squarepoint Ops LLC boosted its holdings in shares of Nicolet Bankshares by 0.7% in the 2nd quarter. Squarepoint Ops LLC now owns 16,960 shares of the company’s stock worth $2,805,000 after purchasing an additional 119 shares in the last quarter. 43.06% of the stock is currently owned by hedge funds and other institutional investors.

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.