Nicolet Bankshares (NYSE:NIC - Free Report) had its price objective lifted by Keefe, Bruyette & Woods from $118.00 to $135.00 in a research report sent to investors on Thursday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.
Separately, Piper Sandler restated a "neutral" rating and issued a $140.00 price target (up from $122.50) on shares of Nicolet Bankshares in a research note on Wednesday.
View Our Latest Stock Report on Nicolet Bankshares
Nicolet Bankshares Stock Performance
NYSE:NIC traded down $0.43 during mid-day trading on Thursday, reaching $139.98. 115,246 shares of the stock were exchanged, compared to its average volume of 62,698. The company has a 50 day simple moving average of $123.94 and a 200-day simple moving average of $116.12. The stock has a market capitalization of $2.11 billion, a P/E ratio of 16.07 and a beta of 0.76. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.13. Nicolet Bankshares has a 1 year low of $85.68 and a 1 year high of $141.92.
Nicolet Bankshares (NYSE:NIC - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The company reported $2.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.14 by $0.21. Nicolet Bankshares had a return on equity of 11.53% and a net margin of 25.12%. The firm had revenue of $95.74 million for the quarter, compared to the consensus estimate of $72.89 million. Analysts anticipate that Nicolet Bankshares will post 8.18 earnings per share for the current fiscal year.
Nicolet Bankshares Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were given a $0.32 dividend. This is an increase from Nicolet Bankshares's previous quarterly dividend of $0.28. The ex-dividend date was Monday, June 2nd. This represents a $1.28 annualized dividend and a dividend yield of 0.91%. Nicolet Bankshares's dividend payout ratio is presently 14.70%.
Insider Activity
In other Nicolet Bankshares news, Director Susan L. Merkatoris sold 3,700 shares of the company's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $108.58, for a total transaction of $401,746.00. Following the sale, the director owned 78,218 shares in the company, valued at $8,492,910.44. This represents a 4.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert Bruce Atwell sold 6,192 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $115.85, for a total value of $717,343.20. Following the sale, the director owned 33,816 shares in the company, valued at $3,917,583.60. The trade was a 15.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,226 shares of company stock worth $1,884,826. Insiders own 16.40% of the company's stock.
Hedge Funds Weigh In On Nicolet Bankshares
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sterling Capital Management LLC boosted its stake in Nicolet Bankshares by 748.7% during the 4th quarter. Sterling Capital Management LLC now owns 331 shares of the company's stock valued at $35,000 after purchasing an additional 292 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Nicolet Bankshares during the 4th quarter valued at $61,000. KBC Group NV bought a new position in Nicolet Bankshares during the 1st quarter valued at $95,000. Summit Investment Advisors Inc. boosted its stake in Nicolet Bankshares by 11.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,410 shares of the company's stock valued at $148,000 after purchasing an additional 140 shares in the last quarter. Finally, Ballentine Partners LLC bought a new position in Nicolet Bankshares during the 2nd quarter valued at $231,000. 43.06% of the stock is owned by institutional investors.
About Nicolet Bankshares
(
Get Free Report)
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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