Stephens Reiterates Equal Weight Rating for Nicolet Bankshares (NYSE:NIC)

Nicolet Bankshares (NYSE:NIC)‘s stock had its “equal weight” rating restated by investment analysts at Stephens in a report released on Wednesday, Benzinga reports. They currently have a $92.00 price target on the stock. Stephens’ target price points to a potential upside of 20.48% from the stock’s current price.

A number of other research firms have also weighed in on NIC. Piper Sandler reissued a “neutral” rating and set a $84.00 price objective on shares of Nicolet Bankshares in a research note on Wednesday, January 10th. Keefe, Bruyette & Woods raised 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. Hovde Group raised Nicolet Bankshares from a “market perform” rating to an “outperform” rating in a research note on Monday, March 4th. Finally, TheStreet raised Nicolet Bankshares from a “c+” rating to a “b” rating in a research note on Wednesday, January 17th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $88.63.

Nicolet Bankshares Price Performance

NIC traded down $1.35 during midday trading on Wednesday, hitting $76.36. The stock had a trading volume of 39,049 shares, compared to its average volume of 38,637. The company has a market cap of $1.13 billion, a P/E ratio of 18.53 and a beta of 0.74. The business has a fifty day moving average of $80.50 and a 200 day moving average of $77.68. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.95 and a current ratio of 0.95. Nicolet Bankshares has a 1 year low of $51.76 and a 1 year high of $86.86.

Nicolet Bankshares (NYSE:NIC) last released 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 firm had revenue of $89.20 million during the quarter, compared to analyst estimates of $78.30 million. Nicolet Bankshares had a return on equity of 9.71% and a net margin of 14.69%. As a group, equities analysts forecast that Nicolet Bankshares will post 6.93 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On Nicolet Bankshares

Large investors have recently bought and sold shares of the business. Wells Fargo & Company MN bought a new stake in Nicolet Bankshares in the 4th quarter worth about $35,000. Citigroup Inc. purchased a new position in Nicolet Bankshares in the fourth quarter worth about $35,000. Metropolitan Life Insurance Co NY purchased a new position in Nicolet Bankshares in the fourth quarter worth about $58,000. Tower Research Capital LLC TRC boosted its position in Nicolet Bankshares by 92.8% in the second quarter. Tower Research Capital LLC TRC now owns 912 shares of the company’s stock worth $62,000 after purchasing an additional 439 shares during the last quarter. Finally, Harbour Investments Inc. boosted its position in Nicolet Bankshares by 14.7% in the fourth quarter. Harbour Investments Inc. now owns 1,569 shares of the company’s stock worth $126,000 after purchasing an additional 201 shares during the last quarter. 43.06% of the stock is currently owned by institutional investors.

Nicolet Bankshares Company Profile

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.