Nicolet Bankshares (NYSE:NIC) Given "Neutral" Rating at Piper Sandler

Piper Sandler reissued their neutral rating on shares of Nicolet Bankshares (NYSE:NIC - Free Report) in a report published on Wednesday morning, MarketBeat.com reports. They currently have a $140.00 target price on the stock, up from their prior target price of $122.50.

Separately, Keefe, Bruyette & Woods boosted their price target on shares of Nicolet Bankshares from $115.00 to $118.00 and gave the stock a "market perform" rating in a report on Thursday, April 17th.

Nicolet Bankshares Stock Up 8.0%

Nicolet Bankshares stock traded up $10.14 during midday trading on Wednesday, hitting $136.31. 235,868 shares of the stock were exchanged, compared to its average volume of 63,066. Nicolet Bankshares has a 52-week low of $85.68 and a 52-week high of $137.43. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of 14.57 and a beta of 0.76. The business's 50-day moving average price is $122.83 and its 200-day moving average price is $115.41. 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 (NYSE:NIC - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.21. Nicolet Bankshares had a net margin of 25.12% and a return on equity of 11.53%. The business had revenue of $95.74 million for the quarter, compared to analysts' expectations of $72.89 million. On average, research analysts expect that Nicolet Bankshares will post 8.18 EPS for the current fiscal year.

Nicolet Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were given a $0.32 dividend. This is a positive change 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 yield of 0.94%. Nicolet Bankshares's payout ratio is currently 15.44%.

Insider Activity

In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 3,126 shares of Nicolet Bankshares stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $118.30, for a total value of $369,805.80. Following the sale, the director owned 34,220 shares of the company's stock, valued at approximately $4,048,226. The trade was a 8.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Susan L. Merkatoris sold 3,700 shares of the business's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $108.58, for a total transaction of $401,746.00. Following the completion of the sale, the director directly owned 78,218 shares in the company, valued at approximately $8,492,910.44. This trade represents a 4.52% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,226 shares of company stock worth $1,884,826. Insiders own 16.40% of the company's stock.

Institutional Trading of Nicolet Bankshares

Several hedge funds and other institutional investors have recently modified their holdings of the business. Nicolet Bankshares Inc. raised its position in shares of Nicolet Bankshares by 5.5% in the first quarter. Nicolet Bankshares Inc. now owns 888,335 shares of the company's stock valued at $96,793,000 after purchasing an additional 45,950 shares during the period. Vanguard Group Inc. increased its holdings in Nicolet Bankshares by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 745,270 shares of the company's stock worth $81,205,000 after acquiring an additional 8,147 shares during the period. Dimensional Fund Advisors LP increased its holdings in Nicolet Bankshares by 3.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 641,740 shares of the company's stock worth $67,325,000 after acquiring an additional 21,819 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Nicolet Bankshares by 0.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 234,523 shares of the company's stock worth $25,554,000 after acquiring an additional 2,031 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in Nicolet Bankshares by 5.1% during the 4th quarter. Janus Henderson Group PLC now owns 180,218 shares of the company's stock worth $18,907,000 after acquiring an additional 8,698 shares during the period. 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.