Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Nicolet Bankshares (NYSE:NIC) Stock

Key Points

• Keefe, Bruyette & Woods raised its price target on Nicolet Bankshares to $185 from $175 and kept an outperform rating, implying about 10.4% upside from the current share price.
• The stock has drawn mixed but still generally positive analyst views, with a Moderate Buy consensus and an average price target of $183 across covering analysts.
• Nicolet Bankshares reported better-than-expected quarterly results, posting EPS of $2.99 versus $2.85 expected and revenue of $177.75 million versus $171.93 million expected.

Nicolet Bankshares (NYSE:NIC - Get Free Report) had its target price hoisted by investment analysts at Keefe, Bruyette & Woods from $175.00 to $185.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' price target would suggest a potential upside of 10.38% from the company's current price.

NIC has been the topic of several other reports. Weiss Ratings cut shares of Nicolet Bankshares from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday, May 18th. Hovde Group dropped their target price on Nicolet Bankshares from $190.00 to $180.00 and set an "outperform" rating for the company in a report on Thursday, April 23rd. Raymond James Financial started coverage on shares of Nicolet Bankshares in a research note on Tuesday, June 23rd. They issued a "market perform" rating on the stock. Zacks Research raised shares of Nicolet Bankshares from a "strong sell" rating to a "hold" rating in a research note on Monday, June 22nd. Finally, Piper Sandler set a $194.00 price objective on shares of Nicolet Bankshares in a research report on Wednesday. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $183.00.

Nicolet Bankshares Stock Down 0.2%

Shares of NIC opened at $167.60 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of 19.02 and a beta of 0.65. Nicolet Bankshares has a 1 year low of $114.11 and a 1 year high of $173.48. The business's 50 day simple moving average is $152.22 and its 200-day simple moving average is $148.61.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $2.99 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.14. Nicolet Bankshares had a net margin of 21.77% and a return on equity of 12.61%. The company had revenue of $177.75 million for the quarter, compared to analysts' expectations of $171.93 million. As a group, equities analysts expect that Nicolet Bankshares will post 12.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nicolet Bankshares

A number of institutional investors and hedge funds have recently bought and sold shares of NIC. Royal Bank of Canada raised its stake in Nicolet Bankshares by 150.8% in the first quarter. Royal Bank of Canada now owns 13,987 shares of the company's stock worth $1,524,000 after buying an additional 8,410 shares in the last quarter. AQR Capital Management LLC boosted its position in Nicolet Bankshares by 15.2% during the 1st quarter. AQR Capital Management LLC now owns 11,819 shares of the company's stock valued at $1,288,000 after acquiring an additional 1,557 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Nicolet Bankshares by 6.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,134 shares of the company's stock valued at $886,000 after acquiring an additional 517 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised 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 raised its position in shares of Nicolet Bankshares by 3,940.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company's stock worth $25,000 after acquiring an additional 197 shares in the last quarter. 43.06% of the stock is owned by 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.

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