Nicolet Bankshares Inc. (NYSE:NIC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Nicolet Bankshares Inc. (NYSE:NIC) has been given an average rating of “Moderate Buy” by the six brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $176.50.

NIC has been the subject of a number of research analyst reports. Hovde Group cut their price objective on Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Weiss Ratings lowered Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Zacks Research lowered Nicolet Bankshares from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 20th. Finally, Piper Sandler cut their price objective on Nicolet Bankshares from $185.00 to $183.00 and set an “overweight” rating for the company in a research report on Wednesday, April 22nd.

Nicolet Bankshares Trading Down 0.2%

Shares of Nicolet Bankshares stock opened at $140.25 on Friday. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 16.44 and a beta of 0.70. The business has a 50-day moving average price of $146.88 and a 200-day moving average price of $140.53. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.08. Nicolet Bankshares has a twelve month low of $114.11 and a twelve month high of $163.11.

Nicolet Bankshares (NYSE:NIC) last issued its quarterly earnings data on Tuesday, April 21st. The company reported $2.75 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.23). The firm had revenue of $134.85 million for the quarter, compared to analysts’ expectations of $129.74 million. Nicolet Bankshares had a net margin of 21.89% and a return on equity of 11.48%. Equities research analysts anticipate that Nicolet Bankshares will post 11.75 EPS for the current fiscal year.

Nicolet Bankshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a $0.36 dividend. This is an increase from Nicolet Bankshares’s previous quarterly dividend of $0.32. This represents a $1.44 annualized dividend and a yield of 1.0%. The ex-dividend date is Monday, June 1st. Nicolet Bankshares’s dividend payout ratio (DPR) is 15.01%.

Insider Buying and Selling

In related news, Director Robert Bruce Atwell sold 3,331 shares of Nicolet Bankshares stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $150.67, for a total value of $501,881.77. Following the completion of the transaction, the director owned 34,054 shares in the company, valued at approximately $5,130,916.18. This trade represents a 8.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its position in Nicolet Bankshares by 3,940.0% in the second quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock worth $25,000 after acquiring an additional 197 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in Nicolet Bankshares in the third quarter worth about $43,000. Meeder Asset Management Inc. purchased a new position in Nicolet Bankshares in the fourth quarter worth about $48,000. Clearstead Advisors LLC grew its position in Nicolet Bankshares by 192.9% in the fourth quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock worth $55,000 after acquiring an additional 297 shares in the last quarter. Finally, Parallel Advisors LLC grew its position in Nicolet Bankshares by 151.9% in the first quarter. Parallel Advisors LLC now owns 607 shares of the company’s stock worth $90,000 after acquiring an additional 366 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.