Nicolet Bankshares Inc. (NYSE:NIC) Receives Average Rating of “Buy” from Brokerages

Nicolet Bankshares Inc. (NYSE:NIC) has been assigned an average rating of “Buy” from the five research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $163.6667.

A number of brokerages recently issued reports on NIC. Zacks Research raised shares of Nicolet Bankshares from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 30th. Keefe, Bruyette & Woods upped their price objective on shares of Nicolet Bankshares from $165.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday. Maxim Group increased their target price on shares of Nicolet Bankshares from $161.00 to $173.00 and gave the company a “buy” rating in a research note on Thursday. Weiss Ratings restated a “buy (b)” rating on shares of Nicolet Bankshares in a research note on Thursday. Finally, Piper Sandler upped their price target on Nicolet Bankshares from $145.00 to $148.00 and gave the company a “neutral” rating in a report on Wednesday.

Nicolet Bankshares Price Performance

Shares of NYSE:NIC opened at $141.30 on Monday. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 14.42 and a beta of 0.78. The business has a 50 day moving average price of $127.50 and a 200 day moving average price of $129.54. 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.

Nicolet Bankshares (NYSE:NIC) last issued its quarterly earnings results on Tuesday, January 20th. The company reported $2.73 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $79.67 million. Research analysts predict that Nicolet Bankshares will post 8.18 earnings per share for the current year.

Nicolet Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be given a dividend of $0.32 per share. The ex-dividend date is Monday, March 2nd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.9%. Nicolet Bankshares’s payout ratio is currently 13.06%.

Insider Buying and Selling at Nicolet Bankshares

In other Nicolet Bankshares news, CFO Hubert Phillip Moore, Jr. purchased 240 shares of the stock in a transaction on Thursday, October 30th. The shares were purchased at an average price of $115.84 per share, with a total value of $27,801.60. Following the acquisition, the chief financial officer directly owned 32,947 shares of the company’s stock, valued at $3,816,580.48. This represents a 0.73% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert J. Weyers acquired 3,000 shares of the company’s stock in a transaction dated Thursday, October 30th. The stock was acquired at an average price of $115.73 per share, with a total value of $347,190.00. Following the purchase, the director owned 26,250 shares in the company, valued at approximately $3,037,912.50. This represents a 12.90% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders purchased 3,370 shares of company stock valued at $390,760. 14.20% of the stock is owned by company insiders.

Institutional Trading of Nicolet Bankshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Trust Advisors LP grew its position in Nicolet Bankshares by 50.6% during the 2nd quarter. First Trust Advisors LP now owns 519,013 shares of the company’s stock worth $64,088,000 after acquiring an additional 174,361 shares during the last quarter. Caldwell Trust Co acquired a new position in Nicolet Bankshares in the second quarter worth $1,553,000. Bank of New York Mellon Corp grew its holdings in shares of Nicolet Bankshares by 3.3% during the second quarter. Bank of New York Mellon Corp now owns 60,004 shares of the company’s stock worth $7,409,000 after purchasing an additional 1,940 shares during the last quarter. Boston Partners increased its stake in shares of Nicolet Bankshares by 2.0% in the second quarter. Boston Partners now owns 141,860 shares of the company’s stock valued at $17,609,000 after buying an additional 2,779 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Nicolet Bankshares by 8.6% in the second quarter. Envestnet Asset Management Inc. now owns 6,259 shares of the company’s stock valued at $773,000 after buying an additional 493 shares during the last quarter. Institutional investors 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.