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

Nicolet Bankshares Inc. (NYSE:NIC)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $163.72 and last traded at $163.2210, with a volume of 750614 shares changing hands. The stock had previously closed at $161.35.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Hovde Group decreased their price target on shares of 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 started coverage on Nicolet Bankshares in a research report on Tuesday. They issued a “market perform” rating on the stock. Weiss Ratings cut Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Zacks Research upgraded Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research note on Monday. Finally, Piper Sandler cut their price objective on Nicolet Bankshares from $185.00 to $183.00 and set an “overweight” rating on the stock in a report on Wednesday, April 22nd. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $176.50.

Nicolet Bankshares Trading Up 1.2%

The firm has a fifty day moving average of $145.46 and a 200-day moving average of $143.44. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 19.13 and a beta of 0.67.

Nicolet Bankshares (NYSE:NIC) last posted its 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 analyst estimates of $129.74 million. Nicolet Bankshares had a net margin of 21.89% and a return on equity of 11.48%. As a group, equities analysts predict that Nicolet Bankshares Inc. will post 11.75 earnings per share 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 given 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 an increase from Nicolet Bankshares’s previous quarterly dividend of $0.32. Nicolet Bankshares’s dividend payout ratio is currently 16.88%.

Hedge Funds Weigh In On Nicolet Bankshares

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