Nicolet Bankshares (NYSE:NIC) Price Target Raised to $104.00

Nicolet Bankshares (NYSE:NIC) had its price target hoisted by Piper Sandler from $86.00 to $104.00 in a research report sent to investors on Wednesday, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other analysts have also weighed in on NIC. Keefe, Bruyette & Woods upped their target price on Nicolet Bankshares from $85.00 to $86.00 and gave the stock a market perform rating in a report on Thursday, April 18th. Stephens lowered their target price on Nicolet Bankshares from $92.00 to $88.00 and set an equal weight rating for the company in a report on Thursday, April 18th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $98.75.

Nicolet Bankshares Stock Down 1.0 %

Nicolet Bankshares stock opened at $97.32 on Wednesday. The business has a fifty day moving average of $82.01 and a two-hundred day moving average of $80.66. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.45 billion, a P/E ratio of 15.00 and a beta of 0.77. Nicolet Bankshares has a twelve month low of $63.58 and a twelve month high of $102.67.

Nicolet Bankshares (NYSE:NIC) last posted its earnings results on Tuesday, April 16th. The company reported $1.72 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.02). The company had revenue of $82.73 million for the quarter, compared to analysts’ expectations of $81.40 million. Nicolet Bankshares had a return on equity of 10.37% and a net margin of 21.13%. On average, analysts forecast that Nicolet Bankshares will post 7.03 earnings per share for the current fiscal year.

Nicolet Bankshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, June 3rd were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.15%. The ex-dividend date was Monday, June 3rd. This is a positive change from Nicolet Bankshares’s previous quarterly dividend of $0.25. Nicolet Bankshares’s dividend payout ratio is currently 17.26%.

Insider Activity

In other news, Director Susan L. Merkatoris sold 522 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $79.00, for a total transaction of $41,238.00. Following the completion of the sale, the director now owns 91,702 shares in the company, valued at approximately $7,244,458. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Susan L. Merkatoris sold 1,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $76.70, for a total value of $76,700.00. Following the transaction, the director now directly owns 88,218 shares of the company’s stock, valued at approximately $6,766,320.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Susan L. Merkatoris sold 522 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $79.00, for a total value of $41,238.00. Following the completion of the transaction, the director now directly owns 91,702 shares in the company, valued at $7,244,458. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,528 shares of company stock worth $118,412. Insiders own 16.40% of the company’s stock.

Hedge Funds Weigh In On Nicolet Bankshares

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Nicolet Bankshares by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 705,938 shares of the company’s stock valued at $60,704,000 after acquiring an additional 8,213 shares during the period. Dimensional Fund Advisors LP grew its position in Nicolet Bankshares by 3.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 542,091 shares of the company’s stock worth $43,629,000 after purchasing an additional 20,299 shares during the period. Janus Henderson Group PLC grew its position in Nicolet Bankshares by 2,480.2% during the 1st quarter. Janus Henderson Group PLC now owns 163,919 shares of the company’s stock worth $14,094,000 after purchasing an additional 157,566 shares during the period. Charles Schwab Investment Management Inc. grew its position in Nicolet Bankshares by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 101,665 shares of the company’s stock worth $8,182,000 after purchasing an additional 2,036 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in Nicolet Bankshares by 0.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 45,556 shares of the company’s stock worth $3,783,000 after purchasing an additional 192 shares during the period. 43.06% of the stock is 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.