Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Nicolet Bankshares (NYSE:NIC) Stock

Nicolet Bankshares (NYSE:NIC) had its price objective boosted by Keefe, Bruyette & Woods from $110.00 to $115.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 4.48% from the stock’s previous close.

Several other brokerages also recently issued reports on NIC. Maxim Group upped their price target 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 upped their target price on Nicolet Bankshares from $119.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $117.25.

Nicolet Bankshares Trading Up 2.0 %

Shares of NIC stock opened at $110.07 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.96 and a current ratio of 0.96. Nicolet Bankshares has a fifty-two week low of $73.00 and a fifty-two week high of $116.17. The company has a market cap of $1.67 billion, a PE ratio of 13.71 and a beta of 0.77. The stock’s fifty day moving average price is $108.36 and its two-hundred day moving average price is $100.79.

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

Insider Activity at Nicolet Bankshares

In other news, EVP Brad Vincent Hutjens sold 4,560 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $102.85, for a total value of $468,996.00. Following the transaction, the executive vice president now owns 26,674 shares in the company, valued at approximately $2,743,420.90. The trade was a 14.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Bruce Atwell sold 14,171 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $103.00, for a total transaction of $1,459,613.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 82,899 shares of company stock worth $9,053,273 over the last three months. Company insiders own 16.40% of the company’s stock.

Hedge Funds Weigh In On Nicolet Bankshares

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of Nicolet Bankshares by 3.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 587,488 shares of the company’s stock worth $48,783,000 after acquiring an additional 16,952 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in Nicolet Bankshares in the third quarter worth approximately $528,000. Barclays PLC increased its holdings in Nicolet Bankshares by 170.7% in the third quarter. Barclays PLC now owns 23,978 shares of the company’s stock worth $2,291,000 after purchasing an additional 15,121 shares in the last quarter. State Street Corp lifted its stake in Nicolet Bankshares by 3.7% in the third quarter. State Street Corp now owns 381,755 shares of the company’s stock valued at $36,507,000 after buying an additional 13,772 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Nicolet Bankshares by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 303,391 shares of the company’s stock worth $29,019,000 after buying an additional 4,911 shares in the last quarter. Institutional investors and hedge funds own 43.06% of the company’s stock.

About Nicolet Bankshares

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.