Nicolet Bankshares Inc. (NYSE:NIC) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Nicolet Bankshares Inc. (NYSE:NIC) have received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $176.50.

NIC has been the subject of a number of analyst reports. Zacks Research raised shares of Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research report on Monday. Raymond James Financial assumed coverage on Nicolet Bankshares in a research report on Tuesday. They set a “market perform” rating on the stock. Piper Sandler decreased their price objective on Nicolet Bankshares from $185.00 to $183.00 and set an “overweight” rating for the company in a report on Wednesday, April 22nd. Hovde Group lowered 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. Finally, Weiss Ratings downgraded Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th.

Hedge Funds Weigh In On Nicolet Bankshares

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada grew its position in Nicolet Bankshares by 150.8% during the 1st 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 last quarter. AQR Capital Management LLC raised 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 buying an additional 1,557 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Nicolet Bankshares by 6.8% in the first 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Nicolet Bankshares by 6.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 29,778 shares of the company’s stock worth $3,245,000 after buying an additional 1,922 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Nicolet Bankshares by 3,940.0% during the second quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock worth $25,000 after buying an additional 197 shares during the period. 43.06% of the stock is owned by hedge funds and other institutional investors.

Nicolet Bankshares Price Performance

Shares of NIC stock opened at $156.32 on Thursday. The stock’s 50-day moving average is $145.41 and its 200 day moving average is $143.22. Nicolet Bankshares has a 1-year low of $114.11 and a 1-year high of $163.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market cap of $3.32 billion, a P/E ratio of 18.33 and a beta of 0.67.

Nicolet Bankshares (NYSE:NIC) last released 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 firm had revenue of $134.85 million for the quarter, compared to analysts’ expectations of $129.74 million. Research analysts predict that Nicolet Bankshares will post 11.75 earnings per share for the current fiscal year.

Nicolet Bankshares Increases Dividend

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

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.