Nicolet Bankshares Inc. (NYSE:NIC) Stock Now Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Nicolet Bankshares has a “Moderate Buy” consensus rating from seven analysts, with an average 12-month price target of $183, compared with a recent share price of $166.66.
• The company exceeded quarterly expectations, reporting $2.99 in earnings per share versus the $2.85 consensus estimate and revenue of $177.75 million versus $171.93 million expected.
• Nicolet declared a quarterly dividend of $0.36, equivalent to a 0.9% annual yield, while institutional investors own 43.06% of the stock; insiders sold 4,219 shares worth approximately $716,000 over the past 90 days.

Nicolet Bankshares Inc. (NYSE:NIC - Get Free Report) has earned an average rating of "Moderate Buy" from the seven research firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $183.00.

Several research analysts recently weighed in on the company. Raymond James Financial began coverage on Nicolet Bankshares in a research note on Tuesday, June 23rd. They set a "market perform" rating for the company. Keefe, Bruyette & Woods upped their price target 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. Piper Sandler set a $194.00 price objective on shares of Nicolet Bankshares in a research report on Wednesday, July 22nd. Weiss Ratings upgraded shares of Nicolet Bankshares from a "buy (b+)" rating to a "buy (a)" rating in a research report on Monday, September 14th. Finally, Zacks Research raised shares of Nicolet Bankshares from a "strong sell" rating to a "hold" rating in a research note on Monday, June 22nd.

Nicolet Bankshares Price Performance

Shares of NYSE:NIC opened at $166.66 on Friday. Nicolet Bankshares has a 12 month low of $114.11 and a 12 month high of $180.00. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of 18.92 and a beta of 0.64. The stock's 50 day moving average price is $170.85 and its 200 day moving average price is $157.89. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.90 and a quick ratio of 0.90.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last released its earnings results on Tuesday, July 21st. The company reported $2.99 earnings per share for the quarter, topping 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 firm had revenue of $177.75 million during the quarter, compared to the consensus estimate of $171.93 million. Equities research analysts anticipate that Nicolet Bankshares will post 12.21 earnings per share for the current fiscal year.

Nicolet Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were given a $0.36 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $1.44 annualized dividend and a yield of 0.9%. Nicolet Bankshares's payout ratio is 16.35%.

Insider Buying and Selling at Nicolet Bankshares

In other news, Director Robert Atwell sold 2,662 shares of the firm's stock in a transaction 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 completion of the sale, the director directly owned 34,483 shares of the company's stock, valued at $5,870,385.92. This trade represents a 7.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Eric Witczak sold 1,215 shares of the firm's stock in a transaction on Monday, July 27th. The stock was sold at an average price of $167.89, for a total value of $203,986.35. Following the sale, the executive vice president directly owned 33,630 shares of the company's stock, valued at approximately $5,646,140.70. This represents a 3.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 4,219 shares of company stock worth $715,976 in the last ninety days. 7.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nicolet Bankshares

Institutional investors have recently bought and sold shares of the stock. State Street Corp raised its position in Nicolet Bankshares by 65.1% during the second quarter. State Street Corp now owns 1,174,560 shares of the company's stock valued at $194,244,000 after buying an additional 463,199 shares during the period. Tidal Investments LLC acquired a new stake in Nicolet Bankshares during the 2nd quarter worth about $607,000. Squarepoint Ops LLC grew its stake in Nicolet Bankshares by 0.7% during the 2nd quarter. Squarepoint Ops LLC now owns 16,960 shares of the company's stock valued at $2,805,000 after acquiring an additional 119 shares in the last quarter. Nykredit A S purchased a new position in Nicolet Bankshares during the 2nd quarter valued at about $143,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Nicolet Bankshares in the 2nd quarter valued at about $215,000. Hedge funds and other institutional investors own 43.06% of the company's stock.

About Nicolet Bankshares

Nicolet Bankshares, Inc is the bank holding company for Nicolet National Bank, a community-focused financial institution headquartered in Green Bay, Wisconsin. Founded in 2000, Nicolet National Bank serves businesses, individuals, families and communities through a network of locations primarily in Wisconsin and portions of Michigan.

The bank provides commercial and small-business banking services, including business checking and savings accounts, commercial loans, lines of credit, equipment financing, treasury management and cash-management solutions.

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