Nicolet Bankshares (NYSE:NIC - Get Free Report)'s stock had its "neutral" rating reissued by equities research analysts at Piper Sandler in a research note issued on Wednesday, July 16th, Marketbeat Ratings reports. They currently have a $140.00 price target on the stock, up from their previous price target of $122.50. Piper Sandler's target price would suggest a potential upside of 5.06% from the company's previous close.
Separately, Keefe, Bruyette & Woods boosted their price target on Nicolet Bankshares from $115.00 to $118.00 and gave the stock a "market perform" rating in a research report on Thursday, April 17th.
View Our Latest Stock Analysis on Nicolet Bankshares
Nicolet Bankshares Stock Performance
NIC stock traded up $0.32 during trading on Wednesday, hitting $133.25. 68,879 shares of the company traded hands, compared to its average volume of 116,631. Nicolet Bankshares has a 1 year low of $85.68 and a 1 year high of $141.92. The company has a market cap of $2.01 billion, a PE ratio of 15.30 and a beta of 0.76. The stock's 50-day simple moving average is $125.25 and its 200 day simple moving average is $117.34. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.97 and a quick ratio of 0.97.
Nicolet Bankshares (NYSE:NIC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The company reported $2.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.14 by $0.21. The company had revenue of $95.74 million during the quarter, compared to the consensus estimate of $72.89 million. Nicolet Bankshares had a return on equity of 11.53% and a net margin of 25.12%. On average, equities analysts expect that Nicolet Bankshares will post 8.18 earnings per share for the current fiscal year.
Insider Activity
In related news, EVP Eric James Witczak sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $139.77, for a total transaction of $698,850.00. Following the transaction, the executive vice president owned 28,901 shares in the company, valued at $4,039,492.77. This trade represents a 14.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert Bruce Atwell sold 6,904 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $139.47, for a total value of $962,900.88. Following the transaction, the director owned 34,220 shares in the company, valued at $4,772,663.40. This represents a 16.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,238 shares of company stock worth $2,427,488 in the last three months. Corporate insiders own 14.20% of the company's stock.
Institutional Trading of Nicolet Bankshares
Hedge funds have recently modified their holdings of the business. Sterling Capital Management LLC grew its position in shares of Nicolet Bankshares by 748.7% in the fourth quarter. Sterling Capital Management LLC now owns 331 shares of the company's stock valued at $35,000 after purchasing an additional 292 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Nicolet Bankshares during the 4th quarter worth approximately $61,000. KBC Group NV purchased a new position in shares of Nicolet Bankshares during the 1st quarter worth approximately $95,000. Summit Investment Advisors Inc. increased its stake in shares of Nicolet Bankshares by 11.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,410 shares of the company's stock worth $148,000 after purchasing an additional 140 shares in the last quarter. Finally, Smith Group Asset Management LLC purchased a new position in shares of Nicolet Bankshares during the 1st quarter worth approximately $210,000. 43.06% of the stock is owned by institutional investors and hedge funds.
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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