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

Nicolet Bankshares Inc. (NYSE:NIC)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $162.00 and last traded at $163.2040, with a volume of 435242 shares. The stock had previously closed at $158.67.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NIC shares. Zacks Research upgraded shares of Nicolet Bankshares from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 30th. Piper Sandler raised Nicolet Bankshares from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $148.00 to $185.00 in a report on Thursday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Nicolet Bankshares in a research report on Thursday, January 22nd. Hovde Group reissued an “outperform” rating and set a $190.00 price objective on shares of Nicolet Bankshares in a report on Tuesday, January 27th. Finally, Maxim Group boosted their target price on Nicolet Bankshares from $161.00 to $173.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $179.50.

Nicolet Bankshares Stock Performance

The company has a market capitalization of $2.32 billion, a PE ratio of 15.99 and a beta of 0.78. The stock has a 50-day simple moving average of $137.48 and a 200 day simple moving average of $132.21. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.96.

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

Nicolet Bankshares Dividend Announcement

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

Insider Activity

In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 6,396 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $155.47, for a total transaction of $994,386.12. Following the sale, the director directly owned 34,054 shares of the company’s stock, valued at $5,294,375.38. This trade represents a 15.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 14.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nicolet Bankshares

Institutional investors have recently bought and sold shares of the stock. Mercer Global Advisors Inc. ADV boosted its holdings in Nicolet Bankshares by 4.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 8,153 shares of the company’s stock valued at $989,000 after acquiring an additional 363 shares during the last quarter. Mendon Capital Advisors Corp raised its holdings in shares of Nicolet Bankshares by 1.0% in the 4th quarter. Mendon Capital Advisors Corp now owns 20,000 shares of the company’s stock worth $2,426,000 after purchasing an additional 200 shares during the period. Voloridge Investment Management LLC lifted its stake in shares of Nicolet Bankshares by 812.6% in the 4th quarter. Voloridge Investment Management LLC now owns 48,542 shares of the company’s stock valued at $5,888,000 after purchasing an additional 43,223 shares in the last quarter. Tudor Investment Corp ET AL grew its holdings in shares of Nicolet Bankshares by 196.0% during the 4th quarter. Tudor Investment Corp ET AL now owns 84,708 shares of the company’s stock worth $10,275,000 after purchasing an additional 56,086 shares during the period. Finally, Susquehanna Fundamental Investments LLC increased its position in Nicolet Bankshares by 80.8% during the 4th quarter. Susquehanna Fundamental Investments LLC now owns 11,662 shares of the company’s stock worth $1,415,000 after purchasing an additional 5,213 shares in the last quarter. 43.06% of the stock is currently owned by hedge funds and other institutional investors.

About Nicolet Bankshares

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.