Nicolet Bankshares (NYSE:NIC) Receives “Equal Weight” Rating from Stephens

Stephens restated their equal weight rating on shares of Nicolet Bankshares (NYSE:NIC) in a report released on Wednesday morning, Benzinga reports. Stephens currently has a $92.00 price target on the stock.

A number of other brokerages have also weighed in on NIC. Hovde Group raised shares of Nicolet Bankshares from a market perform rating to an outperform rating in a report on Monday, March 4th. Keefe, Bruyette & Woods raised their price objective on shares of Nicolet Bankshares from $84.00 to $85.00 and gave the company a market perform rating in a research note on Thursday, January 18th. Piper Sandler reaffirmed a neutral rating and issued a $84.00 price objective on shares of Nicolet Bankshares in a research note on Wednesday, January 10th. Finally, TheStreet raised shares of Nicolet Bankshares from a c+ rating to a b rating in a research note on Wednesday, January 17th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $88.63.

Nicolet Bankshares Stock Performance

NYSE NIC opened at $76.04 on Wednesday. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 11.72 and a beta of 0.74. The company has a 50 day moving average of $80.52 and a 200-day moving average of $77.66. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.16. Nicolet Bankshares has a 1-year low of $51.76 and a 1-year high of $86.86.

Nicolet Bankshares (NYSE:NIC) last issued its quarterly earnings results on Tuesday, January 16th. The company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.12. The business had revenue of $89.20 million during the quarter, compared to analyst estimates of $78.30 million. Nicolet Bankshares had a net margin of 20.60% and a return on equity of 10.07%. On average, equities analysts forecast that Nicolet Bankshares will post 6.93 earnings per share for the current fiscal year.

Nicolet Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 8th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.32%. Nicolet Bankshares’s dividend payout ratio is 15.41%.

Insider Transactions at Nicolet Bankshares

In related news, EVP Eric James Witczak sold 2,053 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $82.45, for a total value of $169,269.85. Following the sale, the executive vice president now directly owns 41,427 shares of the company’s stock, valued at approximately $3,415,656.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Eric James Witczak sold 2,053 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $82.45, for a total value of $169,269.85. Following the sale, the executive vice president now directly owns 41,427 shares of the company’s stock, valued at approximately $3,415,656.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Bruce Atwell sold 2,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $81.93, for a total transaction of $163,860.00. Following the completion of the sale, the director now directly owns 42,889 shares in the company, valued at $3,513,895.77. The disclosure for this sale can be found here. Insiders own 16.40% of the company’s stock.

Institutional Investors Weigh In On Nicolet Bankshares

Several institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC lifted its position in Nicolet Bankshares by 9.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 45,364 shares of the company’s stock valued at $3,901,000 after acquiring an additional 3,905 shares in the last quarter. Vanguard Group Inc. increased its stake in Nicolet Bankshares by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 697,725 shares of the company’s stock valued at $56,153,000 after buying an additional 17,539 shares during the last quarter. Mendon Capital Advisors Corp acquired a new stake in Nicolet Bankshares in the 4th quarter valued at $2,012,000. Price T Rowe Associates Inc. MD increased its stake in Nicolet Bankshares by 9.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,793 shares of the company’s stock valued at $789,000 after buying an additional 846 shares during the last quarter. Finally, Harbour Investments Inc. increased its stake in Nicolet Bankshares by 14.7% in the 4th quarter. Harbour Investments Inc. now owns 1,569 shares of the company’s stock valued at $126,000 after buying an additional 201 shares during the last quarter. 43.06% of the stock is 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.