Nicolet Bankshares (NYSE:NIC) Sets New 12-Month High – What’s Next?

Nicolet Bankshares Inc. (NYSE:NIC)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $156.40 and last traded at $156.6840, with a volume of 2413 shares trading hands. The stock had previously closed at $155.19.

Wall Street Analyst Weigh In

NIC has been the topic of a number of analyst reports. Maxim Group lifted their price objective on shares of Nicolet Bankshares from $161.00 to $173.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Piper Sandler upgraded shares of Nicolet Bankshares from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $148.00 to $185.00 in a research note on Thursday. Keefe, Bruyette & Woods lifted their target price on shares of Nicolet Bankshares from $165.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, January 22nd. Zacks Research raised shares of Nicolet Bankshares from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Nicolet Bankshares in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $179.50.

Nicolet Bankshares Price Performance

The company has a 50-day moving average of $136.35 and a two-hundred day moving average of $131.71. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $2.32 billion, a PE ratio of 16.03 and a beta of 0.79.

Nicolet Bankshares (NYSE:NIC) last posted its quarterly earnings data on Tuesday, January 20th. The company reported $2.73 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.18. Nicolet Bankshares had a net margin of 26.98% and a return on equity of 12.65%. The company had revenue of $103.99 million during the quarter, compared to the consensus estimate of $79.67 million. Sell-side analysts predict that Nicolet Bankshares Inc. will post 8.18 EPS for the current fiscal year.

Nicolet Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.28 annualized dividend and a dividend yield of 0.8%. Nicolet Bankshares’s payout ratio is currently 13.06%.

Hedge Funds Weigh In On Nicolet Bankshares

A number of institutional investors have recently added to or reduced their stakes in the company. First Trust Advisors LP grew its stake in shares of Nicolet Bankshares by 50.6% during the second quarter. First Trust Advisors LP now owns 519,013 shares of the company’s stock valued at $64,088,000 after acquiring an additional 174,361 shares in the last quarter. American Century Companies Inc. boosted its holdings in Nicolet Bankshares by 485.7% in the second quarter. American Century Companies Inc. now owns 184,281 shares of the company’s stock valued at $22,755,000 after purchasing an additional 152,817 shares during the last quarter. Millennium Management LLC acquired a new stake in Nicolet Bankshares during the 4th quarter valued at approximately $7,949,000. JPMorgan Chase & Co. grew its stake in Nicolet Bankshares by 247.1% during the 4th quarter. JPMorgan Chase & Co. now owns 82,920 shares of the company’s stock valued at $10,058,000 after purchasing an additional 59,031 shares in the last quarter. Finally, Boston Partners increased its holdings in Nicolet Bankshares by 40.6% during the 3rd quarter. Boston Partners now owns 199,396 shares of the company’s stock worth $26,789,000 after purchasing an additional 57,536 shares during the last quarter. Institutional investors and hedge funds own 43.06% of the company’s stock.

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.