Nicolet Bankshares' (NIC) Buy (B) Rating Reiterated at Weiss Ratings

Key Points

• The stock rating for Nicolet Bankshares has been reaffirmed with a "buy" by Weiss Ratings, indicating continued confidence in the company's performance.
• Analysts from other firms have set varying price targets for the stock, with estimates ranging from $135.00 to $161.00, reflecting a strong consensus rating of "Moderate Buy."
• In its latest quarterly earnings, Nicolet Bankshares reported an EPS of $2.35, exceeding analyst expectations and demonstrating robust revenue of $95.74 million.

Nicolet Bankshares (NYSE:NIC - Get Free Report)'s stock had its "buy (b)" rating reaffirmed by analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research firms have also recently weighed in on NIC. Keefe, Bruyette & Woods increased their price target on Nicolet Bankshares from $118.00 to $135.00 and gave the stock a "market perform" rating in a report on Thursday, July 17th. Piper Sandler reiterated a "neutral" rating and issued a $140.00 price objective (up previously from $122.50) on shares of Nicolet Bankshares in a research note on Wednesday, July 16th. Wall Street Zen upgraded shares of Nicolet Bankshares from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Finally, Maxim Group boosted their price objective on Nicolet Bankshares from $131.00 to $161.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $145.33.

Nicolet Bankshares Stock Performance

Shares of Nicolet Bankshares stock traded down $0.74 on Wednesday, reaching $132.20. 28,086 shares of the stock were exchanged, compared to its average volume of 72,034. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. Nicolet Bankshares has a twelve month low of $92.76 and a twelve month high of $141.92. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 15.12 and a beta of 0.73. The business has a 50 day moving average price of $132.84 and a two-hundred day moving average price of $124.35.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The company reported $2.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.14 by $0.21. The company had revenue of $95.74 million during the quarter, compared to the consensus estimate of $72.89 million. Nicolet Bankshares had a return on equity of 11.48% and a net margin of 25.12%. Analysts anticipate that Nicolet Bankshares will post 8.18 earnings per share for the current fiscal year.

Insider Transactions at Nicolet Bankshares

In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 6,904 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $139.47, for a total transaction of $962,900.88. Following the completion of the sale, the director owned 34,220 shares in the company, valued at $4,772,663.40. This trade represents a 16.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Eric James Witczak sold 1,588 shares of Nicolet Bankshares stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $139.42, for a total value of $221,398.96. Following the completion of the transaction, the executive vice president owned 28,901 shares of the company's stock, valued at approximately $4,029,377.42. The trade was a 5.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,056 shares of company stock valued at $2,096,949. Insiders own 16.40% of the company's stock.

Hedge Funds Weigh In On Nicolet Bankshares

Several hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its holdings 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 during the last quarter. KBC Group NV acquired a new stake in shares of Nicolet Bankshares in the first quarter worth about $95,000. IAG Wealth Partners LLC acquired a new stake in shares of Nicolet Bankshares in the second quarter worth about $126,000. Raymond James Financial Inc. acquired a new position in shares of Nicolet Bankshares during the 2nd quarter worth about $133,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Nicolet Bankshares by 63.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,273 shares of the company's stock worth $157,000 after purchasing an additional 493 shares during the last quarter. 43.06% of the stock is currently owned by institutional investors and hedge funds.

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.

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