Shares of Nicolet Bankshares Inc. (NYSE:NIC – Get Free Report) have earned an average rating of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $176.50.
A number of equities research analysts have recently commented on NIC shares. Weiss Ratings lowered Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Piper Sandler dropped their price target on Nicolet Bankshares from $185.00 to $183.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 22nd. Hovde Group dropped their price target on Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Finally, Zacks Research downgraded Nicolet Bankshares from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 20th.
Get Our Latest Stock Analysis on NIC
Nicolet Bankshares Price Performance
Nicolet Bankshares (NYSE:NIC – Get Free Report) last released its quarterly earnings results 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 for 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%. On average, equities analysts predict that Nicolet Bankshares will post 11.75 earnings per share for the current year.
Nicolet Bankshares Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.36 per share. The ex-dividend date is Monday, June 1st. This is a boost from Nicolet Bankshares’s previous quarterly dividend of $0.32. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.1%. Nicolet Bankshares’s dividend payout ratio is 16.88%.
Insider Activity
In related news, Director Robert Bruce Atwell sold 3,309 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $149.82, for a total transaction of $495,754.38. Following the completion of the transaction, the director directly owned 34,054 shares in the company, valued at approximately $5,101,970.28. This trade represents a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 7.20% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of NIC. PDT Partners LLC lifted its holdings in Nicolet Bankshares by 1.8% during the 2nd quarter. PDT Partners LLC now owns 5,572 shares of the company’s stock worth $688,000 after purchasing an additional 100 shares during the last quarter. ProShare Advisors LLC lifted its holdings in Nicolet Bankshares by 4.9% during the 4th quarter. ProShare Advisors LLC now owns 2,424 shares of the company’s stock worth $294,000 after purchasing an additional 113 shares during the last quarter. LPL Financial LLC lifted its holdings in Nicolet Bankshares by 4.6% during the 4th quarter. LPL Financial LLC now owns 2,836 shares of the company’s stock worth $344,000 after purchasing an additional 126 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Nicolet Bankshares by 71.8% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 347 shares of the company’s stock worth $47,000 after purchasing an additional 145 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in Nicolet Bankshares by 0.6% during the 4th quarter. Bank of Montreal Can now owns 23,181 shares of the company’s stock worth $2,829,000 after purchasing an additional 147 shares during the last quarter. 43.06% of the stock is currently owned by institutional investors.
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.
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