Nicolet Bankshares Inc. (NYSE:NIC) Given Consensus Rating of “Moderate Buy” by Analysts

Nicolet Bankshares Inc. (NYSE:NIC) has been assigned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $176.50.

NIC has been the subject of a number of research analyst reports. Raymond James Financial initiated coverage on Nicolet Bankshares in a research report on Tuesday, June 23rd. They set a “market perform” rating for the company. Piper Sandler decreased their target price on Nicolet Bankshares from $185.00 to $183.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 22nd. Hovde Group dropped their price target on Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. Zacks Research upgraded Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Finally, Weiss Ratings downgraded Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th.

Institutional Investors Weigh In On Nicolet Bankshares

Hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its position in Nicolet Bankshares by 32.1% during the first quarter. Dimensional Fund Advisors LP now owns 819,274 shares of the company’s stock valued at $121,756,000 after purchasing an additional 198,997 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Nicolet Bankshares by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 737,578 shares of the company’s stock worth $89,468,000 after buying an additional 22,474 shares during the last quarter. State Street Corp increased its holdings in shares of Nicolet Bankshares by 6.2% in the 4th quarter. State Street Corp now owns 458,724 shares of the company’s stock worth $55,643,000 after buying an additional 26,893 shares during the last quarter. Jennison Associates LLC purchased a new stake in shares of Nicolet Bankshares during the 1st quarter valued at about $31,794,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Nicolet Bankshares by 0.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 204,236 shares of the company’s stock valued at $30,354,000 after buying an additional 746 shares in the last quarter. Hedge funds and other institutional investors own 43.06% of the company’s stock.

Nicolet Bankshares Stock Performance

NIC opened at $169.57 on Monday. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of 19.88 and a beta of 0.65. The company has a fifty day moving average of $150.70 and a 200 day moving average of $147.64. Nicolet Bankshares has a fifty-two week low of $114.11 and a fifty-two week high of $173.48. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 0.91.

Nicolet Bankshares (NYSE:NIC) last announced its quarterly earnings results on Tuesday, April 21st. The company reported $2.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.23). The company had revenue of $134.85 million during the quarter, compared to the consensus estimate of $129.74 million. Nicolet Bankshares had a net margin of 21.89% and a return on equity of 11.48%. As a group, sell-side analysts forecast that Nicolet Bankshares will post 12.17 earnings per share for the current fiscal year.

Nicolet Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a $0.36 dividend. This is a boost from Nicolet Bankshares’s previous quarterly dividend of $0.32. This represents a $1.44 annualized dividend and a yield of 0.8%. The ex-dividend date was Monday, June 1st. Nicolet Bankshares’s dividend payout ratio (DPR) is presently 16.88%.

About Nicolet Bankshares

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.