Nicolet Bankshares Inc. (NYSE:NIC) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Nicolet Bankshares Inc. (NYSE:NIC - Get Free Report) has received an average recommendation of "Moderate Buy" from the seven research firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $183.00.

NIC has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lifted their price objective on shares of Nicolet Bankshares from $175.00 to $185.00 and gave the company an "outperform" rating in a report on Thursday, July 23rd. Raymond James Financial assumed coverage on shares of Nicolet Bankshares in a research report on Tuesday, June 23rd. They issued a "market perform" rating for the company. Zacks Research upgraded shares of Nicolet Bankshares from a "strong sell" rating to a "hold" rating in a research note on Monday, June 22nd. Piper Sandler set a $194.00 price target on shares of Nicolet Bankshares in a research report on Wednesday, July 22nd. Finally, Weiss Ratings downgraded shares of Nicolet Bankshares from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Monday, August 31st.

Insider Activity at Nicolet Bankshares

In other news, EVP Eric Witczak sold 1,215 shares of the company's stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $167.89, for a total transaction of $203,986.35. Following the sale, the executive vice president owned 33,630 shares in the company, valued at $5,646,140.70. This represents a 3.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert Atwell sold 2,662 shares of the company's stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $170.24, for a total value of $453,178.88. Following the sale, the director owned 34,483 shares in the company, valued at approximately $5,870,385.92. This represents a 7.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,219 shares of company stock valued at $715,976 over the last three months. Insiders own 7.20% of the company's stock.

Hedge Funds Weigh In On Nicolet Bankshares

Institutional investors have recently added to or reduced their stakes in the company. PDT Partners LLC lifted its stake in Nicolet Bankshares by 1.8% in the second quarter. PDT Partners LLC now owns 5,572 shares of the company's stock valued at $688,000 after acquiring an additional 100 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Nicolet Bankshares by 4.9% during the 4th quarter. ProShare Advisors LLC now owns 2,424 shares of the company's stock worth $294,000 after purchasing an additional 113 shares during the last quarter. LPL Financial LLC increased its stake in shares of Nicolet Bankshares by 4.6% during the 4th quarter. LPL Financial LLC now owns 2,836 shares of the company's stock worth $344,000 after purchasing an additional 126 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Nicolet Bankshares by 0.6% in the 4th quarter. Bank of Montreal Can now owns 23,181 shares of the company's stock valued at $2,829,000 after purchasing an additional 147 shares during the period. Finally, Smith Group Asset Management LLC raised its holdings in shares of Nicolet Bankshares by 9.3% in the 1st quarter. Smith Group Asset Management LLC now owns 2,230 shares of the company's stock valued at $331,000 after purchasing an additional 189 shares during the period. 43.06% of the stock is currently owned by institutional investors and hedge funds.

Nicolet Bankshares Stock Up 0.1%

NIC stock opened at $172.32 on Tuesday. 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 stock has a market capitalization of $3.61 billion, a P/E ratio of 19.56 and a beta of 0.64. Nicolet Bankshares has a fifty-two week low of $114.11 and a fifty-two week high of $180.00. The business has a 50-day moving average of $170.45 and a 200-day moving average of $156.10.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last announced its earnings results on Tuesday, July 21st. The company reported $2.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.85 by $0.14. Nicolet Bankshares had a return on equity of 11.36% and a net margin of 21.77%.The business had revenue of $177.75 million for the quarter, compared to analyst estimates of $171.93 million. On average, sell-side analysts anticipate that Nicolet Bankshares will post 12.3 earnings per share for the current fiscal year.

Nicolet Bankshares Dividend Announcement

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

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.

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