Nicolet Bankshares (NYSE:NIC) Given New $86.00 Price Target at Keefe, Bruyette & Woods

Nicolet Bankshares (NYSE:NIC) had its price objective boosted by Keefe, Bruyette & Woods from $85.00 to $86.00 in a research report released on Thursday, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

Several other research firms have also commented on NIC. Stephens reiterated an equal weight rating and set a $92.00 price objective on shares of Nicolet Bankshares in a research report on Wednesday. Piper Sandler lowered their target price on shares of Nicolet Bankshares from $88.00 to $82.50 and set a neutral rating for the company in a report on Wednesday. Hovde Group upgraded shares of Nicolet Bankshares from a market perform rating to an outperform rating in a report on Monday, March 4th. Finally, TheStreet upgraded shares of Nicolet Bankshares from a c+ rating to a b rating in a report on Wednesday, January 17th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $87.88.

Nicolet Bankshares Price Performance

NIC stock opened at $76.98 on Thursday. Nicolet Bankshares has a 52 week low of $51.76 and a 52 week high of $86.86. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.16. The company has a fifty day simple moving average of $80.56 and a two-hundred day simple moving average of $77.66. The firm has a market capitalization of $1.14 billion, a P/E ratio of 11.86 and a beta of 0.74.

Nicolet Bankshares (NYSE:NIC) last released its quarterly earnings data on Tuesday, January 16th. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.73 by $0.12. Nicolet Bankshares had a net margin of 20.60% and a return on equity of 10.07%. The business had revenue of $89.20 million during the quarter, compared to analyst estimates of $78.30 million. Analysts anticipate that Nicolet Bankshares will post 6.93 earnings per share for the current fiscal year.

Nicolet Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 8th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.00 annualized dividend and a dividend yield of 1.30%. Nicolet Bankshares’s dividend payout ratio (DPR) is presently 15.41%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Stifel Financial Corp increased its position in Nicolet Bankshares by 0.9% during the 3rd quarter. Stifel Financial Corp now owns 15,888 shares of the company’s stock valued at $1,109,000 after purchasing an additional 141 shares during the period. Harbour Investments Inc. increased its position in Nicolet Bankshares by 14.7% during the 4th quarter. Harbour Investments Inc. now owns 1,569 shares of the company’s stock valued at $126,000 after purchasing an additional 201 shares during the period. Legal & General Group Plc increased its position in Nicolet Bankshares by 1.9% during the 4th quarter. Legal & General Group Plc now owns 12,680 shares of the company’s stock valued at $1,019,000 after purchasing an additional 237 shares during the period. Merit Financial Group LLC increased its position in Nicolet Bankshares by 8.0% during the 4th quarter. Merit Financial Group LLC now owns 3,331 shares of the company’s stock valued at $268,000 after purchasing an additional 246 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in Nicolet Bankshares by 1.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 14,250 shares of the company’s stock valued at $994,000 after purchasing an additional 250 shares during the period. Hedge funds and other institutional investors own 43.06% of the company’s stock.

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.