Nicolet Bankshares (NYSE:NIC) Price Target Cut to $82.50 by Analysts at Piper Sandler

Nicolet Bankshares (NYSE:NIC) had its price objective dropped by investment analysts at Piper Sandler from $88.00 to $82.50 in a report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 7.17% from the stock’s current price.

Several other equities research analysts have also issued reports on NIC. Keefe, Bruyette & Woods lifted their price target on Nicolet Bankshares from $84.00 to $85.00 and gave the stock a “market perform” rating in a research note on Thursday, January 18th. Hovde Group raised Nicolet Bankshares from a “market perform” rating to an “outperform” rating in a research note on Monday, March 4th. Stephens reissued an “equal weight” rating and issued a $92.00 target price on shares of Nicolet Bankshares in a research note on Wednesday. Finally, TheStreet raised Nicolet Bankshares from a “c+” rating to a “b” rating in a research note on Wednesday, January 17th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Nicolet Bankshares has a consensus rating of “Hold” and an average price target of $87.88.

Nicolet Bankshares Trading Up 1.3 %

Shares of NIC stock opened at $76.98 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $80.56 and a two-hundred day moving average price of $77.66. Nicolet Bankshares has a 12-month low of $51.76 and a 12-month high of $86.86. The firm has a market cap of $1.14 billion, a P/E ratio of 11.86 and a beta of 0.74.

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

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. UBS Group AG purchased a new position in shares of Nicolet Bankshares during the 4th quarter worth approximately $417,000. Citigroup Inc. purchased a new position in shares of Nicolet Bankshares during the 4th quarter worth approximately $35,000. Advisor Group Holdings Inc. purchased a new position in shares of Nicolet Bankshares during the 4th quarter worth approximately $1,390,000. Victory Capital Management Inc. purchased a new position in shares of Nicolet Bankshares during the 4th quarter worth approximately $401,000. Finally, Amalgamated Bank purchased a new position in shares of Nicolet Bankshares during the 4th quarter worth approximately $131,000. 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.