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

Key Points

• Analysts give Nicolet Bankshares a consensus rating of "Moderate Buy" (five buys, one hold) with an average 1‑year price target of $176.50.
• The company reported quarterly EPS of $2.75, missing the $2.98 consensus, while revenue of $134.85 million beat estimates; net margin was 21.89% and ROE 13.92%.
• Nicolet raised its quarterly dividend to $0.36 ($1.44 annualized, ~1.0% yield), but insiders have been net sellers recently (director sold 3,309 shares; 13,036 shares sold in the past three months).

Nicolet Bankshares Inc. (NYSE:NIC - Get Free Report) has been given a consensus rating of "Moderate Buy" by the six brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $176.50.

Several brokerages have recently commented on NIC. Hovde Group reduced 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. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Nicolet Bankshares in a report on Tuesday, April 21st. Piper Sandler reduced their target price on Nicolet Bankshares from $185.00 to $183.00 and set an "overweight" rating for the company in a report on Wednesday, April 22nd. Keefe, Bruyette & Woods upped their target price on Nicolet Bankshares from $165.00 to $170.00 and gave the company an "outperform" rating in a report on Thursday, January 22nd. Finally, Zacks Research downgraded Nicolet Bankshares from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 20th.

Nicolet Bankshares Trading Up 1.6%

Shares of Nicolet Bankshares stock opened at $147.37 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 17.28 and a beta of 0.70. The business has a fifty day simple moving average of $150.35 and a 200-day simple moving average of $138.21. Nicolet Bankshares has a fifty-two week low of $114.11 and a fifty-two week high of $163.11.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last announced its earnings results on Tuesday, April 21st. The company reported $2.75 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.23). Nicolet Bankshares had a net margin of 21.89% and a return on equity of 13.92%. The company had revenue of $134.85 million for the quarter, compared to analysts' expectations of $129.74 million. On average, equities analysts forecast that Nicolet Bankshares will post 11.75 EPS for the current fiscal year.

Nicolet Bankshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a $0.36 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.44 annualized dividend and a yield of 1.0%. This is an increase from Nicolet Bankshares's previous quarterly dividend of $0.32. Nicolet Bankshares's dividend payout ratio (DPR) is currently 16.88%.

Insider Transactions at Nicolet Bankshares

In related news, Director Robert Bruce Atwell sold 3,309 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $149.82, for a total value of $495,754.38. Following the completion of the sale, the director directly owned 34,054 shares of the company's stock, valued at approximately $5,101,970.28. This represents a 8.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders sold 13,036 shares of company stock valued at $1,992,022. 7.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nicolet Bankshares

A number of hedge funds and other institutional investors have recently made changes to their positions in NIC. EverSource Wealth Advisors LLC increased its holdings in shares of Nicolet Bankshares by 3,940.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company's stock valued at $25,000 after acquiring an additional 197 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Nicolet Bankshares during the 3rd quarter valued at about $43,000. Meeder Asset Management Inc. acquired a new position in shares of Nicolet Bankshares during the 4th quarter valued at about $48,000. Clearstead Advisors LLC increased its holdings in shares of Nicolet Bankshares by 192.9% during the 4th quarter. Clearstead Advisors LLC now owns 451 shares of the company's stock valued at $55,000 after acquiring an additional 297 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in Nicolet Bankshares by 45.1% in the 3rd quarter. Parkside Financial Bank & Trust now owns 589 shares of the company's stock valued at $79,000 after buying an additional 183 shares during the last quarter. 43.06% of the stock is owned by hedge funds and other institutional investors.

About Nicolet Bankshares

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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