Nicolet Bankshares (NYSE:NIC) Price Target Raised to $131.00 at Maxim Group

Nicolet Bankshares (NYSE:NIC) had its target price upped by Maxim Group from $124.00 to $131.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also commented on NIC. Piper Sandler raised their price target on Nicolet Bankshares from $119.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday. Keefe, Bruyette & Woods upped their price objective on shares of Nicolet Bankshares from $110.00 to $115.00 and gave the company a “market perform” rating in a report on Thursday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $119.00.

Nicolet Bankshares Stock Performance

Shares of Nicolet Bankshares stock opened at $109.23 on Thursday. Nicolet Bankshares has a 52 week low of $73.00 and a 52 week high of $116.17. The company has a market capitalization of $1.66 billion, a PE ratio of 13.60 and a beta of 0.77. The stock’s fifty day moving average is $108.36 and its two-hundred day moving average is $100.79. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.14.

Nicolet Bankshares (NYSE:NIC) last announced its quarterly earnings data on Tuesday, January 21st. The company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.23. Nicolet Bankshares had a net margin of 23.83% and a return on equity of 10.95%. As a group, analysts expect that Nicolet Bankshares will post 7.82 earnings per share for the current year.

Nicolet Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Monday, December 2nd. Nicolet Bankshares’s dividend payout ratio is presently 13.95%.

Insider Activity

In related news, Director Robert Bruce Atwell sold 14,171 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $103.00, for a total value of $1,459,613.00. Following the sale, the director now owns 33,315 shares of the company’s stock, valued at approximately $3,431,445. This represents a 29.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Brad Vincent Hutjens sold 4,560 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $102.85, for a total value of $468,996.00. Following the completion of the transaction, the executive vice president now owns 26,674 shares of the company’s stock, valued at $2,743,420.90. This trade represents a 14.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,820 shares of company stock worth $8,942,298. Corporate insiders own 16.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NIC. American Century Companies Inc. grew its position in shares of Nicolet Bankshares by 11.0% during the second quarter. American Century Companies Inc. now owns 24,804 shares of the company’s stock worth $2,060,000 after buying an additional 2,468 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Nicolet Bankshares by 3.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 587,488 shares of the company’s stock worth $48,783,000 after purchasing an additional 16,952 shares during the last quarter. SG Americas Securities LLC acquired a new position in Nicolet Bankshares during the 3rd quarter worth $412,000. Creative Planning grew its position in Nicolet Bankshares by 6.6% in the 3rd quarter. Creative Planning now owns 12,484 shares of the company’s stock valued at $1,194,000 after buying an additional 777 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Nicolet Bankshares in the 3rd quarter worth $528,000. 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.