Nicolet Bankshares (NYSE:NIC) Price Target Raised to $120.00

Nicolet Bankshares (NYSE:NIC) had its price objective lifted by Piper Sandler from $119.00 to $120.00 in a research report report published on Wednesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Other equities analysts have also issued research reports about the stock. Keefe, Bruyette & Woods lifted their target price on shares of Nicolet Bankshares from $100.00 to $110.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Maxim Group boosted their price objective on Nicolet Bankshares from $120.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $119.00.

Nicolet Bankshares Stock Performance

Shares of NYSE:NIC opened at $109.47 on Wednesday. The business has a 50-day moving average of $108.30 and a two-hundred day moving average of $100.85. The firm has a market capitalization of $1.66 billion, a PE ratio of 13.63 and a beta of 0.77. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.96. Nicolet Bankshares has a 12 month low of $73.00 and a 12 month high of $116.17.

Nicolet Bankshares (NYSE:NIC) last posted its earnings results on Tuesday, January 21st. The company reported $2.17 earnings per share (EPS) for the quarter, topping 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, research analysts forecast that Nicolet Bankshares will post 8.1 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 issued a $0.28 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.12 dividend on an annualized basis and a yield of 1.02%. Nicolet Bankshares’s dividend payout ratio is currently 13.95%.

Insider Activity

In other Nicolet Bankshares news, EVP Brad Vincent Hutjens sold 1,516 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $112.85, for a total transaction of $171,080.60. Following the transaction, the executive vice president now directly owns 29,593 shares in the company, valued at $3,339,570.05. This represents a 4.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert Bruce Atwell sold 2,721 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $103.00, for a total transaction of $280,263.00. Following the completion of the sale, the director now directly owns 33,315 shares of the company’s stock, valued at $3,431,445. The trade was a 7.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 81,820 shares of company stock worth $8,942,298 over the last ninety days. Corporate insiders own 16.40% of the company’s stock.

Hedge Funds Weigh In On Nicolet Bankshares

A number of hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP bought a new position in Nicolet Bankshares during the 3rd quarter worth approximately $155,000. Virtu Financial LLC acquired a new stake in shares of Nicolet Bankshares during the 3rd quarter valued at approximately $264,000. Quest Partners LLC lifted its stake in Nicolet Bankshares by 858.0% during the third quarter. Quest Partners LLC now owns 2,922 shares of the company’s stock worth $279,000 after purchasing an additional 2,617 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Nicolet Bankshares by 31.0% in the third quarter. BNP Paribas Financial Markets now owns 4,269 shares of the company’s stock worth $408,000 after purchasing an additional 1,010 shares during the period. Finally, PDT Partners LLC bought a new stake in Nicolet Bankshares during the third quarter valued at $412,000. 43.06% of the stock is currently owned by institutional investors and hedge funds.

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.