Nicolet Bankshares (NYSE:NIC) Given New $88.00 Price Target at Stephens

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

Several other brokerages have also recently weighed in on NIC. Piper Sandler reduced 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. TheStreet raised shares of Nicolet Bankshares from a c+ rating to a b rating in a research note on Wednesday, January 17th. Keefe, Bruyette & Woods lifted their price objective on shares of Nicolet Bankshares from $85.00 to $86.00 and gave the stock a market perform rating in a research note on Thursday. Finally, Hovde Group raised shares of Nicolet Bankshares from a market perform rating to an outperform rating in a research note on Monday, March 4th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Nicolet Bankshares has an average rating of Hold and a consensus price target of $87.88.

Nicolet Bankshares Trading Up 1.3 %

Shares of NIC opened at $76.98 on Thursday. The company’s fifty day moving average is $80.56 and its 200 day moving average is $77.66. Nicolet Bankshares has a fifty-two week low of $51.76 and a fifty-two week high of $86.86. The stock has a market capitalization of $1.14 billion, a PE ratio of 11.86 and a beta of 0.74. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.95 and a current ratio of 0.95.

Nicolet Bankshares (NYSE:NIC) last announced its quarterly earnings results on Tuesday, January 16th. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.12. Nicolet Bankshares had a net margin of 20.60% and a return on equity of 10.07%. The company had revenue of $89.20 million for the quarter, compared to analysts’ expectations of $78.30 million. Sell-side analysts expect that Nicolet Bankshares will post 6.93 earnings per share for the current fiscal year.

Nicolet Bankshares Dividend Announcement

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

Insider Activity

In other news, EVP Eric James Witczak sold 2,053 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $82.45, for a total transaction of $169,269.85. Following the completion of the sale, the executive vice president now directly owns 41,427 shares of the company’s stock, valued at $3,415,656.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Eric James Witczak sold 2,053 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $82.45, for a total transaction of $169,269.85. Following the completion of the sale, the executive vice president now directly owns 41,427 shares of the company’s stock, valued at $3,415,656.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Bruce Atwell sold 2,000 shares of the business’s stock in a transaction 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 directly owns 42,889 shares of the company’s stock, valued at $3,513,895.77. The disclosure for this sale can be found here. Insiders own 16.40% of the company’s stock.

Institutional Trading of Nicolet Bankshares

A number of hedge funds have recently added to or reduced their stakes in NIC. UBS Group AG purchased a new stake in Nicolet Bankshares in the fourth quarter worth about $417,000. Citigroup Inc. purchased a new stake in Nicolet Bankshares in the fourth quarter worth about $35,000. Advisor Group Holdings Inc. purchased a new stake in Nicolet Bankshares in the fourth quarter worth about $1,390,000. Victory Capital Management Inc. purchased a new stake in Nicolet Bankshares in the fourth quarter worth about $401,000. Finally, Amalgamated Bank purchased a new stake in Nicolet Bankshares in the fourth quarter worth about $131,000. 43.06% of the stock is owned by hedge funds and other institutional investors.

About Nicolet Bankshares

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.