Nicolet Bankshares (NYSE:NIC) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Nicolet Bankshares (NYSE:NIC) had its price target hoisted by research analysts at Keefe, Bruyette & Woods from $175.00 to $185.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 8.97% from the company’s previous close.

A number of other equities research analysts have also weighed in on NIC. Weiss Ratings cut shares of Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Zacks Research raised shares of Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Piper Sandler set a $194.00 price target on shares of Nicolet Bankshares in a report on Wednesday. Hovde Group reduced their price objective on shares of Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Finally, Raymond James Financial assumed coverage on Nicolet Bankshares in a report on Tuesday, June 23rd. They issued a “market perform” rating for the company. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $183.00.

Nicolet Bankshares Stock Performance

NYSE:NIC opened at $169.77 on Thursday. The stock has a market cap of $3.61 billion, a P/E ratio of 19.27 and a beta of 0.65. The company has a current ratio of 0.90, a quick ratio of 0.91 and a debt-to-equity ratio of 0.04. The stock’s 50-day moving average is $153.43 and its 200-day moving average is $149.10. Nicolet Bankshares has a 1-year low of $114.11 and a 1-year high of $173.48.

Nicolet Bankshares (NYSE:NIC) last released its quarterly earnings data on Tuesday, July 21st. The company reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.14. The company had revenue of $177.75 million during the quarter, compared to the consensus estimate of $171.93 million. Nicolet Bankshares had a return on equity of 11.36% and a net margin of 21.77%. Equities research analysts anticipate that Nicolet Bankshares will post 12.3 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in shares of Nicolet Bankshares by 32.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 819,274 shares of the company’s stock valued at $121,756,000 after purchasing an additional 198,997 shares in the last quarter. Vanguard Group Inc. grew its stake in Nicolet Bankshares by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 737,578 shares of the company’s stock worth $89,468,000 after purchasing an additional 22,474 shares during the period. State Street Corp increased its holdings in Nicolet Bankshares by 6.2% in the fourth quarter. State Street Corp now owns 458,724 shares of the company’s stock worth $55,643,000 after purchasing an additional 26,893 shares in the last quarter. Jennison Associates LLC bought a new stake in Nicolet Bankshares in the first quarter worth approximately $31,794,000. Finally, The Manufacturers Life Insurance Company lifted its stake in Nicolet Bankshares by 0.4% in the first quarter. The Manufacturers Life Insurance Company now owns 204,236 shares of the company’s stock valued at $30,354,000 after buying an additional 746 shares during the period. 43.06% of the stock is owned by institutional investors.

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.