Nicolet Bankshares (NYSE:NIC) Price Target Cut to $82.50

Nicolet Bankshares (NYSE:NIC - Free Report) had its target price cut by Piper Sandler from $88.00 to $82.50 in a report released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts have also issued reports on the company. TheStreet raised Nicolet Bankshares from a c+ rating to a b rating in a report on Wednesday, January 17th. Hovde Group raised Nicolet Bankshares from a market perform rating to an outperform rating in a report on Monday, March 4th. Stephens reaffirmed an equal weight rating and issued a $92.00 target price on shares of Nicolet Bankshares in a report on Wednesday. Finally, Keefe, Bruyette & Woods upped their price objective on Nicolet Bankshares from $84.00 to $85.00 and gave the company a market perform rating in a research note on Thursday, January 18th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $88.63.

Nicolet Bankshares Stock Down 2.2 %

NIC traded down $1.67 during midday trading on Wednesday, reaching $76.04. 69,326 shares of the company were exchanged, compared to its average volume of 39,152. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.95 and a current ratio of 0.95. The company's fifty day moving average price is $80.50 and its 200 day moving average price is $77.68. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 18.73 and a beta of 0.74. Nicolet Bankshares has a one year low of $51.76 and a one year high of $86.86.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 16th. The company reported $1.72 EPS for the quarter, missing analysts' consensus estimates of $1.74 by ($0.02). The company had revenue of $82.73 million for the quarter, compared to the consensus estimate of $81.40 million. Nicolet Bankshares had a return on equity of 9.71% and a net margin of 14.69%. As a group, analysts expect that Nicolet Bankshares will post 6.93 EPS for the current year.

Nicolet Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 8th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, March 7th. This represents a $1.00 annualized dividend and a dividend yield of 1.32%. Nicolet Bankshares's dividend payout ratio is currently 24.63%.

Insider Buying and Selling

In related news, Director Robert Bruce Atwell sold 2,000 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $81.93, for a total value of $163,860.00. Following the sale, the director now owns 42,889 shares in the company, valued at $3,513,895.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Eric James Witczak sold 2,053 shares of the stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $82.45, for a total value of $169,269.85. Following the sale, the executive vice president now owns 41,427 shares in the company, valued at $3,415,656.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Bruce Atwell sold 2,000 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $81.93, for a total value of $163,860.00. Following the completion of the sale, the director now owns 42,889 shares in the company, valued at approximately $3,513,895.77. The disclosure for this sale can be found here. 16.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its stake in Nicolet Bankshares by 1.8% in the third quarter. PNC Financial Services Group Inc. now owns 14,250 shares of the company's stock valued at $994,000 after acquiring an additional 250 shares during the last quarter. FMR LLC grew its stake in shares of Nicolet Bankshares by 54.2% during the third quarter. FMR LLC now owns 556,958 shares of the company's stock valued at $38,865,000 after buying an additional 195,707 shares during the last quarter. Swiss National Bank grew its stake in shares of Nicolet Bankshares by 1.4% during the third quarter. Swiss National Bank now owns 29,100 shares of the company's stock valued at $2,031,000 after buying an additional 400 shares during the last quarter. KLCM Advisors Inc. bought a new position in shares of Nicolet Bankshares during the third quarter valued at about $215,000. Finally, Barclays PLC grew its stake in shares of Nicolet Bankshares by 13.0% during the third quarter. Barclays PLC now owns 13,081 shares of the company's stock valued at $913,000 after buying an additional 1,506 shares during the last quarter. Institutional investors own 43.06% of the company's stock.

About Nicolet Bankshares

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.