Nicolet Bankshares Inc. (NYSE:NIC) Stock Has Consensus Price Target of $184.80 According to Analysts

Key Points

• Analyst sentiment is moderately bullish: Eight analysts give Nicolet Bankshares a consensus “Moderate Buy” rating, with an average 12-month price target of $184.80 versus the stock’s $173.28 opening price.
• Nicolet exceeded quarterly expectations, reporting $3.15 in EPS on $174.43 million in revenue, ahead of estimates of $3.07 EPS and $173.64 million in revenue.
• The company declared a quarterly dividend of $0.36 per share, equivalent to $1.44 annually and a 0.8% yield; institutional investors own 43.06% of the stock, while an insider recently sold shares.

Shares of Nicolet Bankshares Inc. (NYSE:NIC - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the eight ratings firms that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $184.80.

A number of equities analysts recently issued reports on NIC shares. Stephens upped their price target on Nicolet Bankshares from $185.00 to $190.00 and gave the company an "equal weight" rating in a report on Friday, October 23rd. Piper Sandler raised their price objective on shares of Nicolet Bankshares from $194.00 to $196.00 and gave the stock an "overweight" rating in a report on Wednesday, October 21st. Weiss Ratings downgraded shares of Nicolet Bankshares from a "buy (a+)" rating to a "buy (a)" rating in a research report on Friday. Finally, Keefe, Bruyette & Woods upped their target price 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.

Insiders Place Their Bets

In other Nicolet Bankshares news, Director Robert Atwell sold 3,556 shares of the firm's stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $171.22, for a total transaction of $608,858.32. Following the transaction, the director owned 34,483 shares of the company's stock, valued at approximately $5,904,179.26. This trade represents a 9.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 7.20% of the stock is currently owned by company insiders.

Institutional Trading of Nicolet Bankshares

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Sterling Capital Management LLC boosted its position in shares of Nicolet Bankshares by 58.0% in the 3rd quarter. Sterling Capital Management LLC now owns 474 shares of the company's stock valued at $77,000 after purchasing an additional 174 shares during the period. Parallel Advisors LLC grew its stake in Nicolet Bankshares by 151.9% during the 1st quarter. Parallel Advisors LLC now owns 607 shares of the company's stock worth $90,000 after buying an additional 366 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Nicolet Bankshares by 82.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 630 shares of the company's stock worth $94,000 after buying an additional 284 shares during the last quarter. KBC Group NV increased its position in Nicolet Bankshares by 42.5% during the first quarter. KBC Group NV now owns 842 shares of the company's stock worth $125,000 after buying an additional 251 shares during the period. Finally, Nykredit A S acquired a new position in Nicolet Bankshares during the second quarter worth approximately $143,000. Institutional investors and hedge funds own 43.06% of the company's stock.

Nicolet Bankshares Price Performance

Shares of NYSE NIC opened at $173.28 on Wednesday. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of 19.17 and a beta of 0.64. The business has a 50-day moving average of $168.03 and a two-hundred day moving average of $156.21. Nicolet Bankshares has a 1 year low of $114.11 and a 1 year high of $180.00.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last released its quarterly earnings data on Tuesday, October 20th. The company reported $3.15 EPS for the quarter, beating analysts' consensus estimates of $3.07 by $0.08. The business had revenue of $174.43 million during the quarter, compared to analysts' expectations of $173.64 million. As a group, equities research analysts expect that Nicolet Bankshares will post 12.10 earnings per share for the current year.

Nicolet Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid 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, December 1st. Nicolet Bankshares's dividend payout ratio (DPR) is currently 15.93%.

About Nicolet Bankshares

Nicolet Bankshares, Inc is a bank holding company headquartered in Green Bay, Wisconsin. Through its principal subsidiary, Nicolet National Bank, the company provides banking and financial services to individuals, families, businesses and organizations.

Nicolet National Bank offers commercial and consumer lending, deposit accounts, residential and commercial real estate financing, treasury management and other business banking services. Its offerings also include wealth management, trust and investment services, mortgage banking and related financial solutions.

Founded in 2000, Nicolet has built a community-banking franchise serving customers primarily in Wisconsin and neighboring market areas.

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