Nicolet Bankshares (NYSE:NIC) Given New $120.00 Price Target at Piper Sandler

Nicolet Bankshares (NYSE:NIC) had its target price upped by Piper Sandler from $119.00 to $120.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other brokerages have also issued reports on NIC. Maxim Group raised their target price on shares of Nicolet Bankshares from $120.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods lifted their price objective on Nicolet Bankshares from $100.00 to $110.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $116.00.

Nicolet Bankshares Stock Performance

NYSE NIC opened at $110.07 on Wednesday. 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 has a fifty-two week low of $73.00 and a fifty-two week high of $116.17. The business has a fifty day moving average of $108.40 and a 200-day moving average of $100.73. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 14.00 and a beta of 0.77.

Nicolet Bankshares (NYSE:NIC) last announced its earnings results 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 net margin of 23.35% and a return on equity of 10.56%. As a group, analysts predict that Nicolet Bankshares will post 7.61 earnings per share for the current fiscal year.

Nicolet Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.28 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.02%. Nicolet Bankshares’s dividend payout ratio (DPR) is presently 13.95%.

Insider Transactions at Nicolet Bankshares

In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 14,171 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now owns 33,315 shares of the company’s stock, valued at approximately $3,431,445. The trade was a 29.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brad Vincent Hutjens sold 5,838 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $113.58, for a total value of $663,080.04. Following the sale, the executive vice president now owns 29,593 shares of the company’s stock, valued at $3,361,172.94. This represents a 16.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 82,899 shares of company stock worth $9,053,273 in the last ninety days. Insiders own 16.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NIC. Dimensional Fund Advisors LP raised its stake 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 valued at $48,783,000 after acquiring an additional 16,952 shares during the period. Los Angeles Capital Management LLC purchased a new position in Nicolet Bankshares in the third quarter valued at about $528,000. Barclays PLC lifted its stake in shares of Nicolet Bankshares by 170.7% during 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 boosted its position in shares of Nicolet Bankshares by 3.7% in the third quarter. State Street Corp now owns 381,755 shares of the company’s stock worth $36,507,000 after buying an additional 13,772 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Nicolet Bankshares by 1.6% in the third 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 during the period. 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.