Nicolet Bankshares (NYSE:NIC) Price Target Cut to $88.00 by Analysts at Stephens

Nicolet Bankshares (NYSE:NIC) had its target price cut by Stephens from $92.00 to $88.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Other analysts have also issued research reports about the stock. Piper Sandler lowered their price target on shares of Nicolet Bankshares from $88.00 to $82.50 and set a neutral rating on the stock in a research report on Wednesday. Hovde Group raised shares of Nicolet Bankshares from a market perform rating to an outperform rating in a research report on Monday, March 4th. TheStreet raised shares of Nicolet Bankshares from a c+ rating to a b rating in a research report on Wednesday, January 17th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Nicolet Bankshares from $85.00 to $86.00 and gave the company a market perform rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Nicolet Bankshares has a consensus rating of Hold and an average price target of $87.88.

Nicolet Bankshares Stock Up 1.3 %

NIC opened at $76.98 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 11.86 and a beta of 0.74. Nicolet Bankshares has a twelve month low of $51.76 and a twelve month high of $86.86. The company’s 50-day moving average price is $80.56 and its two-hundred day moving average price is $77.66.

Nicolet Bankshares (NYSE:NIC) last released its earnings results on Tuesday, January 16th. The company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.12. Nicolet Bankshares had a net margin of 20.60% and a return on equity of 10.07%. The firm had revenue of $89.20 million for the quarter, compared to analysts’ expectations of $78.30 million. As a group, equities analysts expect that Nicolet Bankshares will post 6.93 earnings per share for the current year.

Nicolet Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 8th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Thursday, March 7th. Nicolet Bankshares’s dividend payout ratio (DPR) is presently 15.41%.

Insider Buying and Selling

In related news, Director Robert Bruce Atwell sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $81.93, for a total transaction of $163,860.00. Following the sale, the director now owns 42,889 shares of the company’s stock, valued at approximately $3,513,895.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Nicolet Bankshares news, EVP Eric James Witczak sold 2,053 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $82.45, for a total value of $169,269.85. Following the completion of the transaction, the executive vice president now owns 41,427 shares of the company’s stock, valued at approximately $3,415,656.15. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert Bruce Atwell sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $81.93, for a total transaction of $163,860.00. Following the completion of the transaction, the director now directly owns 42,889 shares of the company’s stock, valued at approximately $3,513,895.77. The disclosure for this sale can be found here. 16.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nicolet Bankshares

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its stake in Nicolet Bankshares by 3.3% in the 2nd quarter. BlackRock Inc. now owns 963,503 shares of the company’s stock worth $65,431,000 after buying an additional 31,229 shares in the last quarter. Vanguard Group Inc. grew its stake in Nicolet Bankshares by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 697,725 shares of the company’s stock worth $56,153,000 after buying an additional 17,539 shares in the last quarter. FMR LLC grew its stake in Nicolet Bankshares by 54.2% in the 3rd quarter. FMR LLC now owns 556,958 shares of the company’s stock worth $38,865,000 after buying an additional 195,707 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Nicolet Bankshares by 3.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 542,091 shares of the company’s stock valued at $43,629,000 after purchasing an additional 20,299 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Nicolet Bankshares by 4.3% in the 2nd quarter. State Street Corp now owns 336,251 shares of the company’s stock valued at $22,835,000 after purchasing an additional 13,838 shares in the last quarter. Hedge funds and other institutional investors own 43.06% of the company’s stock.

Nicolet Bankshares Company Profile

Nicolet Bankshares, Inc operates as the bank holding company for Nicolet National Bank that provides banking products and services for businesses and individuals in Wisconsin and Michigan. The company accepts checking, savings, and money market accounts; various certificates of deposit; and individual retirement accounts.