Piper Sandler Issues Positive Forecast for Nicolet Bankshares (NYSE:NIC) Stock Price

Nicolet Bankshares (NYSE:NIC) had its price objective lifted by Piper Sandler from $119.00 to $120.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Other analysts have also recently issued reports about the company. Maxim Group raised their target price on Nicolet Bankshares from $120.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods raised their price target on Nicolet Bankshares from $100.00 to $110.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Nicolet Bankshares has a consensus rating of “Hold” and an average price target of $119.00.

Nicolet Bankshares Trading Down 0.0 %

NYSE:NIC opened at $109.47 on Wednesday. The firm has a market capitalization of $1.66 billion, a P/E ratio of 13.63 and a beta of 0.77. The business has a 50 day simple moving average of $108.30 and a 200 day simple moving average of $100.85. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.96. Nicolet Bankshares has a 12-month low of $73.00 and a 12-month high of $116.17.

Nicolet Bankshares (NYSE:NIC) last posted its earnings results on Tuesday, January 21st. The company reported $2.17 earnings per share (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%. Equities research analysts predict that Nicolet Bankshares will post 8.1 EPS for the current year.

Nicolet Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Monday, December 2nd. Nicolet Bankshares’s dividend payout ratio is presently 13.95%.

Insider Activity at Nicolet Bankshares

In other news, Director Robert Bruce Atwell sold 14,171 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $103.00, for a total transaction of $1,459,613.00. Following the completion of the sale, the director now directly owns 33,315 shares of the company’s stock, valued at $3,431,445. This trade represents a 29.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Brad Vincent Hutjens sold 4,560 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $102.85, for a total value of $468,996.00. Following the sale, the executive vice president now directly owns 26,674 shares in the company, valued at $2,743,420.90. This trade represents a 14.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 81,820 shares of company stock valued at $8,942,298 over the last 90 days. 16.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nicolet Bankshares

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake in Nicolet Bankshares by 111.7% during the third quarter. JPMorgan Chase & Co. now owns 32,818 shares of the company’s stock valued at $3,138,000 after buying an additional 17,314 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Nicolet Bankshares by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 587,488 shares of the company’s stock valued at $48,783,000 after acquiring an additional 16,952 shares during the period. Barclays PLC lifted its position in shares of Nicolet Bankshares by 170.7% in the 3rd quarter. Barclays PLC now owns 23,978 shares of the company’s stock valued at $2,291,000 after acquiring an additional 15,121 shares in the last quarter. State Street Corp boosted its stake in Nicolet Bankshares by 3.7% in the 3rd 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 period. Finally, Heck Capital Advisors LLC purchased a new position in Nicolet Bankshares during the 4th quarter worth approximately $629,000. Institutional investors and hedge funds 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.