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

Nicolet Bankshares (NYSE:NIC) had its price target upped by equities research analysts at Keefe, Bruyette & Woods from $165.00 to $170.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 20.31% from the company’s previous close.

Several other equities analysts also recently commented on NIC. Weiss Ratings reissued a “buy (b)” rating on shares of Nicolet Bankshares in a report on Wednesday, October 8th. Zacks Research raised shares of Nicolet Bankshares from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 30th. Finally, Piper Sandler boosted their price target on shares of Nicolet Bankshares from $145.00 to $148.00 and gave the stock a “neutral” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $163.67.

Nicolet Bankshares Stock Performance

NYSE NIC opened at $141.30 on Thursday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. Nicolet Bankshares has a twelve month low of $97.90 and a twelve month high of $148.36. The business has a 50-day moving average price of $127.50 and a 200-day moving average price of $129.55. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 14.42 and a beta of 0.78.

Nicolet Bankshares (NYSE:NIC) last posted its quarterly earnings results on Tuesday, January 20th. The company reported $2.73 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.18. Nicolet Bankshares had a return on equity of 12.65% and a net margin of 26.98%.The company had revenue of $80.89 million for the quarter, compared to analysts’ expectations of $79.67 million. As a group, equities research analysts predict that Nicolet Bankshares will post 8.18 EPS for the current fiscal year.

Insider Transactions at Nicolet Bankshares

In other Nicolet Bankshares news, Director Robert J. Weyers bought 3,000 shares of the business’s stock in a transaction dated Thursday, October 30th. The shares were purchased at an average price of $115.73 per share, with a total value of $347,190.00. Following the completion of the purchase, the director owned 26,250 shares in the company, valued at $3,037,912.50. This represents a 12.90% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Hubert Phillip Moore, Jr. purchased 240 shares of Nicolet Bankshares stock in a transaction dated Thursday, October 30th. The stock was acquired at an average price of $115.84 per share, for a total transaction of $27,801.60. Following the completion of the acquisition, the chief financial officer owned 32,947 shares of the company’s stock, valued at approximately $3,816,580.48. This trade represents a 0.73% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 3,370 shares of company stock worth $390,760 over the last three months. 16.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nicolet Bankshares

Several hedge funds have recently bought and sold shares of the business. Royal Bank of Canada increased its stake in Nicolet Bankshares by 150.8% in the first quarter. Royal Bank of Canada now owns 13,987 shares of the company’s stock worth $1,524,000 after purchasing an additional 8,410 shares during the period. AQR Capital Management LLC grew its holdings in shares of Nicolet Bankshares by 15.2% in the first quarter. AQR Capital Management LLC now owns 11,819 shares of the company’s stock worth $1,288,000 after purchasing an additional 1,557 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Nicolet Bankshares by 6.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,134 shares of the company’s stock worth $886,000 after buying an additional 517 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Nicolet Bankshares by 6.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 29,778 shares of the company’s stock valued at $3,245,000 after buying an additional 1,922 shares in the last quarter. Finally, Ballentine Partners LLC bought a new stake in Nicolet Bankshares during the 2nd quarter valued at about $231,000. 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.