Nicolet Bankshares (NYSE:NIC) Stock Price Expected to Rise, Maxim Group Analyst Says

Nicolet Bankshares (NYSE:NIC - Get Free Report) had its price target hoisted by equities research analysts at Maxim Group from $131.00 to $161.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Maxim Group's price target indicates a potential upside of 15.55% from the company's previous close.

Several other research analysts also recently weighed in on NIC. Keefe, Bruyette & Woods boosted their target price on shares of Nicolet Bankshares from $118.00 to $135.00 and gave the company a "market perform" rating in a research note on Thursday. Piper Sandler restated a "neutral" rating and issued a $140.00 price target (up previously from $122.50) on shares of Nicolet Bankshares in a report on Wednesday, July 16th.

Nicolet Bankshares Stock Down 0.6%

Nicolet Bankshares stock traded down $0.91 during mid-day trading on Thursday, hitting $139.33. The company had a trading volume of 40,147 shares, compared to its average volume of 62,616. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 15.99 and a beta of 0.76. Nicolet Bankshares has a 1 year low of $85.68 and a 1 year high of $141.92. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.13. The business has a fifty day moving average of $123.94 and a 200 day moving average of $116.21.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The company reported $2.35 earnings per share for the quarter, beating analysts' consensus estimates of $2.14 by $0.21. The firm had revenue of $95.74 million for the quarter, compared to analyst estimates of $72.89 million. Nicolet Bankshares had a net margin of 25.12% and a return on equity of 11.53%. On average, sell-side analysts expect that Nicolet Bankshares will post 8.18 earnings per share for the current fiscal year.

Insider Transactions at Nicolet Bankshares

In other news, Director Robert Bruce Atwell sold 3,126 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $118.30, for a total transaction of $369,805.80. Following the completion of the transaction, the director directly owned 34,220 shares in the company, valued at approximately $4,048,226. This represents a 8.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 12,526 shares of company stock valued at $1,483,080 over the last three months. 14.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nicolet Bankshares

Several institutional investors and hedge funds have recently made changes to their positions in the business. Sterling Capital Management LLC raised its position in shares of Nicolet Bankshares by 748.7% during the 4th quarter. Sterling Capital Management LLC now owns 331 shares of the company's stock valued at $35,000 after acquiring an additional 292 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Nicolet Bankshares during the 4th quarter valued at approximately $61,000. KBC Group NV acquired a new stake in shares of Nicolet Bankshares during the 1st quarter valued at approximately $95,000. Summit Investment Advisors Inc. raised its position in shares of Nicolet Bankshares by 11.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,410 shares of the company's stock valued at $148,000 after acquiring an additional 140 shares in the last quarter. Finally, Smith Group Asset Management LLC acquired a new stake in shares of Nicolet Bankshares during the 1st quarter valued at approximately $210,000. 43.06% of the stock is currently owned by hedge funds and other institutional investors.

Nicolet Bankshares Company Profile

Nicolet Bankshares, Inc operates as the bank holding company for Nicolet National Bank that provides banking products and services for businesses and individuals in Wisconsin and Michigan. The company accepts checking, savings, and money market accounts; various certificates of deposit; and individual retirement accounts.