Piper Sandler Issues Pessimistic Forecast for Nicolet Bankshares (NYSE:NIC) Stock Price

Nicolet Bankshares (NYSE:NIC) had its price objective lowered by stock analysts at Piper Sandler from $185.00 to $183.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 22.88% from the stock’s previous close.

A number of other equities analysts also recently commented on NIC. Keefe, Bruyette & Woods boosted their price objective on Nicolet Bankshares from $165.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, January 22nd. Maxim Group lifted their price target on shares of Nicolet Bankshares from $161.00 to $173.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Hovde Group reiterated an “outperform” rating and set a $190.00 price target on shares of Nicolet Bankshares in a report on Tuesday, January 27th. Zacks Research downgraded shares of Nicolet Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Monday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Nicolet Bankshares in a report on Thursday, January 22nd. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $179.00.

Nicolet Bankshares Stock Down 3.8%

Shares of NYSE NIC opened at $148.92 on Wednesday. The stock has a market cap of $3.18 billion, a P/E ratio of 15.53 and a beta of 0.74. The business’s fifty day simple moving average is $151.90 and its 200-day simple moving average is $137.45. Nicolet Bankshares has a 12-month low of $111.21 and a 12-month high of $163.11. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.11.

Nicolet Bankshares (NYSE:NIC) last released its earnings results on Tuesday, April 21st. The company reported $2.75 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.23). Nicolet Bankshares had a return on equity of 12.49% and a net margin of 26.98%.The company had revenue of $134.85 million for the quarter, compared to analyst estimates of $129.74 million. As a group, equities analysts predict that Nicolet Bankshares will post 12.45 EPS for the current fiscal year.

Insider Buying and Selling

In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 6,396 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $155.47, for a total value of $994,386.12. Following the completion of the sale, the director owned 34,054 shares in the company, valued at approximately $5,294,375.38. The trade was a 15.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 13,036 shares of company stock worth $1,992,022 over the last quarter. Insiders own 7.20% of the company’s stock.

Institutional Trading of Nicolet Bankshares

Several institutional investors and hedge funds have recently bought and sold shares of NIC. Merit Financial Group LLC lifted its position in Nicolet Bankshares by 31.2% during the 4th quarter. Merit Financial Group LLC now owns 49,314 shares of the company’s stock worth $5,982,000 after acquiring an additional 11,729 shares during the period. Tudor Investment Corp ET AL acquired a new position in shares of Nicolet Bankshares in the third quarter valued at approximately $3,850,000. First Trust Advisors LP raised its stake in shares of Nicolet Bankshares by 4.1% during the third quarter. First Trust Advisors LP now owns 540,486 shares of the company’s stock worth $72,695,000 after purchasing an additional 21,473 shares during the last quarter. Vest Financial LLC lifted its holdings in shares of Nicolet Bankshares by 17.4% during the third quarter. Vest Financial LLC now owns 32,562 shares of the company’s stock worth $4,380,000 after purchasing an additional 4,827 shares during the period. Finally, Rafferty Asset Management LLC grew its position in Nicolet Bankshares by 47.5% in the 3rd quarter. Rafferty Asset Management LLC now owns 13,394 shares of the company’s stock valued at $1,801,000 after buying an additional 4,311 shares during the last quarter. Hedge funds and other institutional investors own 43.06% of the company’s stock.

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.