Nicolet Bankshares (NYSE:NIC) Given New $124.00 Price Target at Maxim Group

Nicolet Bankshares (NYSE:NIC) had its price objective lifted by Maxim Group from $120.00 to $124.00 in a note issued to investors on Thursday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the stock. Maxim Group’s price objective suggests a potential upside of 21.69% from the company’s current price.

Several other brokerages have also recently weighed in on NIC. Stephens lifted their price objective on shares of Nicolet Bankshares from $90.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Piper Sandler boosted their target price on shares of Nicolet Bankshares from $86.00 to $104.00 and gave the company a “neutral” rating in a research report on Wednesday, July 17th. 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 company has an average rating of “Hold” and a consensus price target of $106.00.

Nicolet Bankshares Price Performance

Shares of Nicolet Bankshares stock opened at $101.90 on Thursday. Nicolet Bankshares has a twelve month low of $63.58 and a twelve month high of $105.00. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.15. The company has a 50-day simple moving average of $95.13 and a two-hundred day simple moving average of $87.62. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 15.70 and a beta of 0.76.

Nicolet Bankshares (NYSE:NIC) last issued its quarterly earnings data on Tuesday, July 16th. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.18. Nicolet Bankshares had a net margin of 21.13% and a return on equity of 10.20%. The business had revenue of $85.43 million during the quarter, compared to analysts’ expectations of $81.40 million. Analysts forecast that Nicolet Bankshares will post 7.3 EPS for the current year.

Insider Buying and Selling

In related news, EVP Brad Vincent Hutjens sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $99.00, for a total transaction of $990,000.00. Following the completion of the transaction, the executive vice president now directly owns 26,642 shares in the company, valued at $2,637,558. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Brad Vincent Hutjens sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $99.00, for a total transaction of $990,000.00. Following the completion of the transaction, the executive vice president now directly owns 26,642 shares in the company, valued at $2,637,558. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael E. Daniels sold 8,003 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $98.98, for a total transaction of $792,136.94. Following the sale, the chief executive officer now directly owns 72,402 shares in the company, valued at $7,166,349.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,003 shares of company stock worth $2,269,387 in the last three months. 16.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nicolet Bankshares

A number of institutional investors have recently added to or reduced their stakes in NIC. Rothschild Investment LLC bought a new stake in Nicolet Bankshares during the 2nd quarter worth approximately $67,000. EntryPoint Capital LLC grew its holdings in Nicolet Bankshares by 97.3% during the 1st quarter. EntryPoint Capital LLC now owns 1,101 shares of the company’s stock worth $95,000 after acquiring an additional 543 shares during the last quarter. Blair William & Co. IL bought a new stake in Nicolet Bankshares during the 1st quarter worth approximately $201,000. ProShare Advisors LLC bought a new stake in Nicolet Bankshares during the 1st quarter worth approximately $203,000. Finally, SG Americas Securities LLC bought a new stake in Nicolet Bankshares during the 3rd quarter worth approximately $412,000. 43.06% of the stock is owned by 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.