Nicolet Bankshares (NYSE:NIC) Reaches New 1-Year High – Should You Buy?

Nicolet Bankshares Inc. (NYSE:NIC) shares reached a new 52-week high on Wednesday . The stock traded as high as $173.66 and last traded at $173.3150, with a volume of 58792 shares traded. The stock had previously closed at $173.16.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Zacks Research raised shares of Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Hovde Group dropped their price objective on Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. Raymond James Financial began coverage on Nicolet Bankshares in a report on Tuesday, June 23rd. They set a “market perform” rating for the company. Weiss Ratings cut Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Nicolet Bankshares from $175.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $183.00.

Nicolet Bankshares Stock Down 0.0%

The company has a debt-to-equity ratio of 0.04, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $3.68 billion, a P/E ratio of 19.69 and a beta of 0.65. The company has a 50 day moving average of $154.63 and a 200-day moving average of $149.92.

Nicolet Bankshares (NYSE:NIC) last released its quarterly earnings data on Tuesday, July 21st. The company reported $2.99 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.14. The business had revenue of $177.75 million during the quarter, compared to analysts’ expectations of $171.93 million. Nicolet Bankshares had a return on equity of 11.36% and a net margin of 21.77%. As a group, equities analysts anticipate that Nicolet Bankshares Inc. will post 12.3 EPS for the current year.

Nicolet Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.8%. Nicolet Bankshares’s payout ratio is presently 16.35%.

Insider Buying and Selling

In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 2,662 shares of Nicolet Bankshares stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $170.24, for a total transaction of $453,178.88. Following the sale, the director directly owned 34,483 shares of the company’s stock, valued at approximately $5,870,385.92. The trade was a 7.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 7.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nicolet Bankshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in Nicolet Bankshares by 3,940.0% during the second quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock valued at $25,000 after buying an additional 197 shares during the period. Meeder Asset Management Inc. purchased a new position in Nicolet Bankshares during the 4th quarter valued at about $48,000. Clearstead Advisors LLC grew its holdings in Nicolet Bankshares by 192.9% in the fourth quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock worth $55,000 after purchasing an additional 297 shares during the period. Parallel Advisors LLC boosted its position in shares of Nicolet Bankshares by 151.9% in the 1st quarter. Parallel Advisors LLC now owns 607 shares of the company’s stock worth $90,000 after purchasing an additional 366 shares in the last quarter. Finally, UMB Bank n.a. bought a new position in shares of Nicolet Bankshares during the fourth quarter valued at $102,000. 43.06% of the stock is owned by hedge funds and other 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.