Nicolet Bankshares (NYSE:NIC) Announces Earnings Results, Misses Estimates By $0.23 EPS

Key Points

• Earnings miss but revenue beat: Nicolet reported EPS of $2.75, missing consensus by $0.23, while revenue came in at $134.85M versus estimates of $129.74M; the bank posted a 12.49% return on equity and a 26.98% net margin.
• Analyst optimism and higher targets: Multiple firms raised ratings/price targets (Piper Sandler to overweight with a $185 target, Hovde at $190), and the consensus rating is "Buy" with a $179.50 price target.
• Insider and institutional activity: A director sold 6,396 shares (~$994K) and insiders disposed of 13,036 shares (~$1.99M) over three months; insiders own 7.20% of shares and institutions hold 43.06%.

Nicolet Bankshares (NYSE:NIC - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported $2.75 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.23), FiscalAI reports. The business had revenue of $134.85 million during the quarter, compared to analyst estimates of $129.74 million. Nicolet Bankshares had a return on equity of 12.49% and a net margin of 26.98%.

Nicolet Bankshares Stock Performance

Nicolet Bankshares stock opened at $154.50 on Wednesday. Nicolet Bankshares has a 12-month low of $111.21 and a 12-month high of $163.11. 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 business's 50-day moving average price is $151.90 and its two-hundred day moving average price is $137.45. The stock has a market cap of $3.30 billion, a PE ratio of 15.76 and a beta of 0.74.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NIC. Piper Sandler upgraded shares of Nicolet Bankshares from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $148.00 to $185.00 in a research report on Thursday, February 19th. Weiss Ratings restated a "buy (b)" rating on shares of Nicolet Bankshares in a research note on Thursday, January 22nd. Hovde Group reiterated an "outperform" rating and set a $190.00 target price on shares of Nicolet Bankshares in a research report on Tuesday, January 27th. Keefe, Bruyette & Woods increased their target price on Nicolet Bankshares from $165.00 to $170.00 and gave the stock an "outperform" rating in a report on Thursday, January 22nd. Finally, Maxim Group raised their price target on Nicolet Bankshares from $161.00 to $173.00 and gave the stock a "buy" rating in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $179.50.

Insider Buying and Selling

In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 6,396 shares of the business's stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $155.47, for a total transaction of $994,386.12. Following the sale, the director owned 34,054 shares of the company's stock, valued at approximately $5,294,375.38. The trade was a 15.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 13,036 shares of company stock worth $1,992,022 over the last three months. 7.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nicolet Bankshares

Several hedge funds have recently modified their holdings of the company. Barclays PLC raised its position in Nicolet Bankshares by 29.1% in the fourth quarter. Barclays PLC now owns 25,680 shares of the company's stock valued at $3,115,000 after purchasing an additional 5,791 shares during the last quarter. Creative Planning grew its holdings in shares of Nicolet Bankshares by 20.2% during the third quarter. Creative Planning now owns 18,683 shares of the company's stock worth $2,513,000 after purchasing an additional 3,138 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Nicolet Bankshares by 48.8% in the fourth quarter. Wells Fargo & Company MN now owns 15,243 shares of the company's stock valued at $1,849,000 after buying an additional 4,997 shares during the period. California State Teachers Retirement System raised its holdings in Nicolet Bankshares by 6.8% in the 3rd quarter. California State Teachers Retirement System now owns 13,364 shares of the company's stock valued at $1,797,000 after buying an additional 849 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its holdings in Nicolet Bankshares by 4.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 8,153 shares of the company's stock valued at $989,000 after buying an additional 363 shares during the last quarter. Institutional investors and hedge funds own 43.06% of the company's stock.

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.