Nicolet Bankshares (NYSE:NIC) Price Target Raised to $115.00 at Keefe, Bruyette & Woods

Nicolet Bankshares (NYSE:NIC) had its price objective lifted by Keefe, Bruyette & Woods from $110.00 to $115.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a market perform rating on the stock.

A number of other analysts have also recently weighed in on the stock. Maxim Group increased their price objective on shares of Nicolet Bankshares from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Piper Sandler lifted their price target on Nicolet Bankshares from $119.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Nicolet Bankshares presently has a consensus rating of “Hold” and a consensus price target of $119.00.

Nicolet Bankshares Stock Performance

Shares of NIC stock opened at $109.23 on Thursday. The company has a market cap of $1.66 billion, a P/E ratio of 13.60 and a beta of 0.77. The business has a 50 day moving average of $108.36 and a two-hundred day moving average of $100.79. Nicolet Bankshares has a 52 week low of $73.00 and a 52 week high of $116.17. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.14.

Nicolet Bankshares (NYSE:NIC) last released its quarterly earnings data on Tuesday, January 21st. The company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.23. Nicolet Bankshares had a return on equity of 10.95% and a net margin of 23.83%. As a group, analysts anticipate that Nicolet Bankshares will post 7.82 EPS for the current year.

Nicolet Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a $0.28 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.12 dividend on an annualized basis and a yield of 1.03%. Nicolet Bankshares’s dividend payout ratio is presently 13.95%.

Insiders Place Their Bets

In other Nicolet Bankshares news, EVP Brad Vincent Hutjens sold 5,838 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $113.58, for a total value of $663,080.04. Following the completion of the sale, the executive vice president now directly owns 29,593 shares of the company’s stock, valued at approximately $3,361,172.94. This represents a 16.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Bruce Atwell sold 14,171 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $103.00, for a total transaction of $1,459,613.00. Following the transaction, the director now owns 33,315 shares of the company’s stock, valued at approximately $3,431,445. This trade represents a 29.84 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 81,820 shares of company stock worth $8,942,298. 16.40% of the stock is owned by corporate insiders.

Institutional Trading of Nicolet Bankshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quantbot Technologies LP bought a new stake in shares of Nicolet Bankshares during the 3rd quarter worth $155,000. Virtu Financial LLC purchased a new stake in shares of Nicolet Bankshares during the third quarter valued at $264,000. Quest Partners LLC boosted its position in shares of Nicolet Bankshares by 858.0% in the 3rd quarter. Quest Partners LLC now owns 2,922 shares of the company’s stock valued at $279,000 after purchasing an additional 2,617 shares during the period. BNP Paribas Financial Markets increased its stake in Nicolet Bankshares by 31.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,269 shares of the company’s stock worth $408,000 after purchasing an additional 1,010 shares in the last quarter. Finally, PDT Partners LLC acquired a new stake in Nicolet Bankshares during the 3rd quarter worth about $412,000. 43.06% of the stock is owned by institutional investors and hedge funds.

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.