Nicolet Bankshares (NYSE:NIC) Announces Earnings Results, Beats Estimates By $0.14 EPS

Key Points

• Nicolet Bankshares reported quarterly earnings of $2.99 per share, beating analyst expectations of $2.85 by $0.14.
• The bank posted solid profitability metrics, including a return on equity of 11.48% and a net margin of 21.89%.
• Shares rose to $167.85 after the announcement, while analysts currently rate the stock a Moderate Buy with an average price target of $176.50.

Nicolet Bankshares (NYSE:NIC - Get Free Report) released its quarterly earnings results on Tuesday. The company reported $2.99 earnings per share for the quarter, topping analysts' consensus estimates of $2.85 by $0.14, FiscalAI reports. Nicolet Bankshares had a return on equity of 11.48% and a net margin of 21.89%.

Nicolet Bankshares Price Performance

Shares of NYSE NIC traded up $0.83 during midday trading on Tuesday, hitting $167.85. The stock had a trading volume of 225,453 shares, compared to its average volume of 231,023. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.08. The stock has a 50 day simple moving average of $151.17 and a 200-day simple moving average of $147.96. The company has a market capitalization of $3.57 billion, a PE ratio of 19.68 and a beta of 0.65. Nicolet Bankshares has a 1 year low of $114.11 and a 1 year high of $173.48.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. 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 research note on Wednesday, April 22nd. Raymond James Financial started coverage on shares of Nicolet Bankshares in a research note on Tuesday, June 23rd. They issued a "market perform" rating on the stock. Weiss Ratings lowered shares of Nicolet Bankshares from a "buy (b+)" rating to a "buy (b)" rating in a report on Monday, May 18th. Zacks Research upgraded shares of Nicolet Bankshares from a "strong sell" rating to a "hold" rating in a research report on Monday, June 22nd. Finally, Hovde Group dropped their target price on shares of Nicolet Bankshares from $190.00 to $180.00 and set an "outperform" rating on the stock in a research report on Thursday, April 23rd. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Nicolet Bankshares presently has an average rating of "Moderate Buy" and an average price target of $176.50.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its stake in Nicolet Bankshares by 3,940.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company's stock worth $25,000 after purchasing an additional 197 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Nicolet Bankshares in the fourth quarter valued at about $48,000. UMB Bank n.a. purchased a new position in shares of Nicolet Bankshares in the fourth quarter worth about $102,000. Raymond James Financial Inc. purchased a new position in shares of Nicolet Bankshares in the second quarter worth about $133,000. Finally, Russell Investments Group Ltd. boosted its position in Nicolet Bankshares by 27,975.0% during the third quarter. Russell Investments Group Ltd. now owns 1,123 shares of the company's stock worth $151,000 after acquiring an additional 1,119 shares during the last quarter. 43.06% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.