Nicolet Bankshares (NYSE:NIC) Sets New 12-Month High – Time to Buy?

Nicolet Bankshares Inc. (NYSE:NIC)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $169.91 and last traded at $168.6690, with a volume of 248813 shares changing hands. The stock had previously closed at $165.39.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NIC. Hovde Group reduced their target price on shares of Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Piper Sandler lowered their price target on Nicolet Bankshares from $185.00 to $183.00 and set an “overweight” rating for the company in a report on Wednesday, April 22nd. Weiss Ratings cut Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Zacks Research upgraded Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Finally, Raymond James Financial assumed coverage on Nicolet Bankshares in a research report on Tuesday, June 23rd. They set a “market perform” rating for the company. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Nicolet Bankshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $176.50.

Nicolet Bankshares Trading Up 2.0%

The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 0.91. The company’s fifty day simple moving average is $146.16 and its 200-day simple moving average is $144.43. The company has a market capitalization of $3.58 billion, a P/E ratio of 19.77 and a beta of 0.65.

Nicolet Bankshares (NYSE:NIC) last posted its quarterly earnings results on Tuesday, April 21st. The company reported $2.75 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.23). Nicolet Bankshares had a net margin of 21.89% and a return on equity of 11.48%. The business had revenue of $134.85 million during the quarter, compared to the consensus estimate of $129.74 million. Research analysts predict that Nicolet Bankshares Inc. will post 11.75 earnings per share for the current year.

Nicolet Bankshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.9%. This is a positive change from Nicolet Bankshares’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Monday, June 1st. Nicolet Bankshares’s payout ratio is presently 16.88%.

Institutional Trading of Nicolet Bankshares

A number of hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC boosted its position in Nicolet Bankshares by 151.9% during the 1st quarter. Parallel Advisors LLC now owns 607 shares of the company’s stock valued at $90,000 after acquiring an additional 366 shares in the last quarter. Bank of America Corp DE raised its position in shares of Nicolet Bankshares by 109.8% in the 1st quarter. Bank of America Corp DE now owns 31,420 shares of the company’s stock worth $4,670,000 after acquiring an additional 16,446 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Nicolet Bankshares by 2.7% during the 1st quarter. Janus Henderson Group PLC now owns 104,081 shares of the company’s stock worth $15,466,000 after purchasing an additional 2,701 shares during the last quarter. Smith Group Asset Management LLC lifted its stake in shares of Nicolet Bankshares by 9.3% during the 1st quarter. Smith Group Asset Management LLC now owns 2,230 shares of the company’s stock worth $331,000 after purchasing an additional 189 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Nicolet Bankshares by 82.1% during the first quarter. EverSource Wealth Advisors LLC now owns 630 shares of the company’s stock valued at $94,000 after purchasing an additional 284 shares in the last quarter. Hedge funds and other institutional investors own 43.06% of the company’s stock.

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.