Maxim Group Raises Nicolet Bankshares (NYSE:NIC) Price Target to $131.00

Nicolet Bankshares (NYSE:NIC) had its price objective raised by Maxim Group from $124.00 to $131.00 in a research note published on Thursday,Benzinga reports. Maxim Group currently has a buy rating on the stock.

Other analysts have also issued research reports about the stock. Piper Sandler raised their price target on shares of Nicolet Bankshares from $119.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday. Keefe, Bruyette & Woods raised their price target on Nicolet Bankshares from $110.00 to $115.00 and gave the stock a “market perform” rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Nicolet Bankshares has a consensus rating of “Hold” and a consensus target price of $119.00.

Nicolet Bankshares Price Performance

NYSE NIC opened at $109.23 on Thursday. Nicolet Bankshares has a fifty-two week low of $73.00 and a fifty-two week high of $116.17. 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 stock’s 50-day moving average is $108.36 and its two-hundred day moving average is $100.79. The firm has a market cap of $1.66 billion, a P/E ratio of 13.60 and a beta of 0.77.

Nicolet Bankshares (NYSE:NIC) last announced its quarterly earnings data on Tuesday, January 21st. The company reported $2.17 EPS for the quarter, beating 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%. On average, analysts anticipate that Nicolet Bankshares will post 7.82 earnings per share for the current fiscal year.

Nicolet Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $0.28 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.12 annualized dividend and a yield of 1.03%. Nicolet Bankshares’s dividend payout ratio is currently 13.95%.

Insider Transactions at Nicolet Bankshares

In related news, Director Robert Bruce Atwell sold 7,609 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $113.00, for a total value of $859,817.00. Following the sale, the director now owns 32,831 shares in the company, valued at $3,709,903. This represents a 18.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Brad Vincent Hutjens sold 6,000 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $115.30, for a total transaction of $691,800.00. Following the completion of the sale, the executive vice president now owns 26,674 shares of the company’s stock, valued at approximately $3,075,512.20. This represents a 18.36 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 81,820 shares of company stock valued at $8,942,298. 16.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nicolet Bankshares

Several large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in Nicolet Bankshares by 3.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 587,488 shares of the company’s stock worth $48,783,000 after purchasing an additional 16,952 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in Nicolet Bankshares in the third quarter worth $528,000. Barclays PLC grew its position in Nicolet Bankshares by 170.7% during the 3rd quarter. Barclays PLC now owns 23,978 shares of the company’s stock worth $2,291,000 after acquiring an additional 15,121 shares during the last quarter. State Street Corp grew its holdings in shares of Nicolet Bankshares by 3.7% in the third quarter. State Street Corp now owns 381,755 shares of the company’s stock worth $36,507,000 after purchasing an additional 13,772 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Nicolet Bankshares by 1.6% during the third quarter. Geode Capital Management LLC now owns 303,391 shares of the company’s stock valued at $29,019,000 after acquiring an additional 4,911 shares during the last quarter. Hedge funds and other institutional investors own 43.06% of the company’s stock.

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.