Brokerages Set Nicolet Bankshares Inc. (NYSE:NIC) PT at $179.50

Nicolet Bankshares Inc. (NYSE:NIC) has been assigned a consensus recommendation of “Buy” from the six brokerages that are covering the firm, Marketbeat reports. Five research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $179.50.

Several research analysts have weighed in on NIC shares. Hovde Group restated an “outperform” rating and set a $190.00 price objective on shares of Nicolet Bankshares in a report on Tuesday, January 27th. Keefe, Bruyette & Woods boosted their target price on shares of Nicolet Bankshares from $165.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, January 22nd. Piper Sandler upgraded shares of Nicolet Bankshares from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $148.00 to $185.00 in a report on Thursday, February 19th. Maxim Group raised their price target on shares of Nicolet Bankshares from $161.00 to $173.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Nicolet Bankshares in a research note on Thursday, January 22nd.

Insider Activity

In related news, Director Robert Bruce Atwell sold 6,396 shares of the company’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $155.47, for a total transaction of $994,386.12. Following the completion of the sale, the director owned 34,054 shares in the company, valued at approximately $5,294,375.38. This represents a 15.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 13,036 shares of company stock worth $1,992,022 over the last 90 days. 7.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NIC. Vanguard Group Inc. boosted its holdings in Nicolet Bankshares by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 737,578 shares of the company’s stock worth $89,468,000 after purchasing an additional 22,474 shares during the last quarter. First Trust Advisors LP lifted its holdings in Nicolet Bankshares by 4.1% during the third quarter. First Trust Advisors LP now owns 540,486 shares of the company’s stock worth $72,695,000 after acquiring an additional 21,473 shares during the period. State Street Corp boosted its position in Nicolet Bankshares by 6.2% in the fourth quarter. State Street Corp now owns 458,724 shares of the company’s stock worth $55,643,000 after purchasing an additional 26,893 shares during the last quarter. Boston Partners boosted its position in Nicolet Bankshares by 40.6% in the third quarter. Boston Partners now owns 199,396 shares of the company’s stock worth $26,789,000 after purchasing an additional 57,536 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Nicolet Bankshares by 91.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 120,218 shares of the company’s stock valued at $14,582,000 after purchasing an additional 57,280 shares during the period. 43.06% of the stock is owned by institutional investors.

Nicolet Bankshares Stock Performance

Shares of Nicolet Bankshares stock opened at $156.36 on Friday. The business has a 50-day simple moving average of $151.58 and a 200 day simple moving average of $136.78. Nicolet Bankshares has a one year low of $103.00 and a one year high of $163.11. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 15.96 and a beta of 0.74.

Nicolet Bankshares (NYSE:NIC) last announced its quarterly earnings results on Tuesday, January 20th. The company reported $2.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.18. The business had revenue of $103.99 million for the quarter, compared to analyst estimates of $79.67 million. Nicolet Bankshares had a return on equity of 12.49% and a net margin of 26.98%. On average, research analysts anticipate that Nicolet Bankshares will post 8.18 earnings per share for the current fiscal year.

Nicolet Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, March 2nd. Nicolet Bankshares’s dividend payout ratio (DPR) is currently 13.06%.

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.