Nicolet Bankshares (NYSE:NIC) Reaches New 52-Week High – Should You Buy?

Nicolet Bankshares, Inc. (NYSE:NIC) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $105.00 and last traded at $104.99, with a volume of 61360 shares. The stock had previously closed at $103.21.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NIC shares. Piper Sandler increased their target price on shares of Nicolet Bankshares from $86.00 to $104.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 17th. Maxim Group increased their target price on shares of Nicolet Bankshares from $120.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Stephens increased their price objective on shares of Nicolet Bankshares from $90.00 to $110.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $106.00.

Nicolet Bankshares Price Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.96. The company’s 50-day simple moving average is $97.46 and its 200-day simple moving average is $89.61. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 14.63 and a beta of 0.75.

Nicolet Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Tuesday, September 3rd. Nicolet Bankshares’s dividend payout ratio (DPR) is currently 14.25%.

Insider Activity

In other news, Director Robert Bruce Atwell sold 2,908 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $103.22, for a total transaction of $300,163.76. Following the completion of the transaction, the director now directly owns 35,815 shares in the company, valued at approximately $3,696,824.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Michael E. Daniels sold 8,003 shares of the 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 completion of the transaction, the chief executive officer now directly owns 72,402 shares in the company, valued at approximately $7,166,349.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert Bruce Atwell sold 2,908 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $103.22, for a total value of $300,163.76. Following the transaction, the director now owns 35,815 shares in the company, valued at $3,696,824.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 36,142 shares of company stock worth $3,685,043. 16.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nicolet Bankshares

Several large investors have recently added to or reduced their stakes in the company. Anchor Capital Advisors LLC lifted its stake in Nicolet Bankshares by 0.8% during the first quarter. Anchor Capital Advisors LLC now owns 21,936 shares of the company’s stock worth $1,886,000 after purchasing an additional 167 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Nicolet Bankshares by 0.4% during the second 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 last quarter. Price T Rowe Associates Inc. MD lifted its stake in Nicolet Bankshares by 4.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,262 shares of the company’s stock worth $883,000 after purchasing an additional 469 shares during the last quarter. EntryPoint Capital LLC lifted its stake in Nicolet Bankshares by 97.3% during the first quarter. EntryPoint Capital LLC now owns 1,101 shares of the company’s stock worth $95,000 after purchasing an additional 543 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Nicolet Bankshares by 9.9% during the second quarter. Principal Financial Group Inc. now owns 6,167 shares of the company’s stock worth $512,000 after purchasing an additional 555 shares during the last quarter. 43.06% of the stock is currently owned by institutional investors.

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.