Nicolet Bankshares (NYSE:NIC) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Nicolet Bankshares (NYSE:NIC) from a strong sell rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. Hovde Group cut their price objective on shares of Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Piper Sandler lowered their target price on shares of Nicolet Bankshares from $185.00 to $183.00 and set an “overweight” rating on the stock in a report on Wednesday, April 22nd. Weiss Ratings lowered shares of Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Finally, Raymond James Financial assumed coverage on shares of Nicolet Bankshares in a research note on Tuesday. They set a “market perform” rating for the company. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $176.50.

Nicolet Bankshares Stock Performance

NYSE NIC opened at $152.26 on Monday. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 17.85 and a beta of 0.67. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average price of $145.43 and a 200-day moving average price of $143.03. Nicolet Bankshares has a twelve month low of $114.11 and a twelve month high of $163.11.

Nicolet Bankshares (NYSE:NIC) last released its earnings results on Tuesday, April 21st. The company reported $2.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.23). Nicolet Bankshares had a return on equity of 11.48% and a net margin of 21.89%.The business had revenue of $134.85 million for the quarter, compared to analysts’ expectations of $129.74 million. As a group, equities research analysts predict that Nicolet Bankshares will post 11.75 EPS for the current fiscal year.

Nicolet Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Monday, June 1st. This is a positive change from Nicolet Bankshares’s previous quarterly dividend of $0.32. Nicolet Bankshares’s dividend payout ratio is presently 16.88%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NIC. Royal Bank of Canada increased its position in Nicolet Bankshares by 150.8% in the first quarter. Royal Bank of Canada now owns 13,987 shares of the company’s stock worth $1,524,000 after purchasing an additional 8,410 shares during the last quarter. AQR Capital Management LLC raised its stake in Nicolet Bankshares by 15.2% during the first quarter. AQR Capital Management LLC now owns 11,819 shares of the company’s stock valued at $1,288,000 after purchasing an additional 1,557 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Nicolet Bankshares by 6.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,134 shares of the company’s stock valued at $886,000 after purchasing an additional 517 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Nicolet Bankshares by 6.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 29,778 shares of the company’s stock valued at $3,245,000 after purchasing an additional 1,922 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Nicolet Bankshares by 3,940.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock worth $25,000 after buying an additional 197 shares in the last quarter. 43.06% of the stock is currently owned by institutional investors.

Nicolet Bankshares Company Profile

Nicolet Bankshares, Inc is a bank holding company headquartered in Green Bay, Wisconsin. Through its subsidiary, Nicolet National Bank, it provides a range of commercial and consumer banking services to businesses, individuals and nonprofit organizations across northeastern Wisconsin and the Upper Peninsula of Michigan. The company’s branch network, digital banking platform and commercial lending centers support its focus on community banking and regional growth.

The company offers deposit products such as checking, savings and money market accounts, alongside consumer and commercial lending solutions.