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

Key Points

• Nicolet Bankshares has a consensus analyst rating of “Moderate Buy”, with seven analysts covering the stock: five buy ratings and two holds. The average 1-year price target is $176.50.
• The company recently reported mixed quarterly results, posting earnings per share of $2.75 versus the expected $2.98, while revenue came in above estimates at $134.85 million.
• Nicolet Bankshares also raised its quarterly dividend to $0.36 per share from $0.32, putting the annualized payout at $1.44 and the yield at 0.8%.

Nicolet Bankshares Inc. (NYSE:NIC - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the seven analysts that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $176.50.

A number of research analysts have recently weighed in on the company. Raymond James Financial initiated coverage on Nicolet Bankshares in a research report on Tuesday, June 23rd. They set a "market perform" rating on the stock. Hovde Group lowered their price target on shares of Nicolet Bankshares from $190.00 to $180.00 and set an "outperform" rating on the stock in a report on Thursday, April 23rd. Weiss Ratings cut shares of Nicolet Bankshares from a "buy (b+)" rating to a "buy (b)" rating in a research note on Monday, May 18th. Piper Sandler decreased their price objective on shares of Nicolet Bankshares from $185.00 to $183.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 22nd. Finally, Zacks Research upgraded shares of Nicolet Bankshares from a "strong sell" rating to a "hold" rating in a research note on Monday, June 22nd.

Hedge Funds Weigh In On Nicolet Bankshares

Several large investors have recently made changes to their positions in NIC. Dimensional Fund Advisors LP grew its position in shares of Nicolet Bankshares by 32.1% during the first quarter. Dimensional Fund Advisors LP now owns 819,274 shares of the company's stock worth $121,756,000 after purchasing an additional 198,997 shares in the last quarter. Vanguard Group Inc. raised its stake in Nicolet Bankshares by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 737,578 shares of the company's stock valued at $89,468,000 after purchasing an additional 22,474 shares during the period. State Street Corp lifted its holdings in Nicolet Bankshares by 6.2% in the 4th quarter. State Street Corp now owns 458,724 shares of the company's stock worth $55,643,000 after purchasing an additional 26,893 shares in the last quarter. Jennison Associates LLC purchased a new position in Nicolet Bankshares in the 1st quarter worth approximately $31,794,000. Finally, The Manufacturers Life Insurance Company boosted its stake in Nicolet Bankshares by 0.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 204,236 shares of the company's stock worth $30,354,000 after purchasing an additional 746 shares during the period. 43.06% of the stock is currently owned by hedge funds and other institutional investors.

Nicolet Bankshares Price Performance

NYSE NIC opened at $169.57 on Monday. The company has a market capitalization of $3.60 billion, a PE ratio of 19.88 and a beta of 0.65. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 0.91. The business's fifty day moving average is $150.70 and its 200 day moving average is $147.64. Nicolet Bankshares has a fifty-two week low of $114.11 and a fifty-two week high of $173.48.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last released its quarterly earnings results on Tuesday, April 21st. The company reported $2.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.23). The company had revenue of $134.85 million for the quarter, compared to the consensus estimate of $129.74 million. Nicolet Bankshares had a net margin of 21.89% and a return on equity of 11.48%. Sell-side analysts predict that Nicolet Bankshares will post 12.17 earnings per share for the current year.

Nicolet Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, June 1st. This is a boost from Nicolet Bankshares's previous quarterly dividend of $0.32. Nicolet Bankshares's dividend payout ratio (DPR) is currently 16.88%.

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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