Nicolet Bankshares (NYSE:NIC) Given New $86.00 Price Target at Keefe, Bruyette & Woods

Nicolet Bankshares (NYSE:NIC) had its price target hoisted by Keefe, Bruyette & Woods from $85.00 to $86.00 in a report released on Thursday, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

Several other brokerages also recently commented on NIC. Hovde Group raised shares of Nicolet Bankshares from a market perform rating to an outperform rating in a report on Monday, March 4th. Stephens reissued an equal weight rating and issued a $92.00 price target on shares of Nicolet Bankshares in a report on Wednesday. Piper Sandler cut their price target on shares of Nicolet Bankshares from $88.00 to $82.50 and set a neutral rating for the company in a report on Wednesday. Finally, TheStreet raised shares of Nicolet Bankshares from a c+ rating to a b rating in a report on Wednesday, January 17th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $87.88.

Nicolet Bankshares Stock Up 1.3 %

NIC opened at $76.98 on Thursday. The company has a 50 day moving average of $80.56 and a 200 day moving average of $77.66. The company has a market cap of $1.14 billion, a PE ratio of 11.86 and a beta of 0.74. Nicolet Bankshares has a 12 month low of $51.76 and a 12 month high of $86.86. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.16.

Nicolet Bankshares (NYSE:NIC) last announced its quarterly earnings results on Tuesday, January 16th. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.73 by $0.12. Nicolet Bankshares had a net margin of 20.60% and a return on equity of 10.07%. The firm had revenue of $89.20 million during the quarter, compared to the consensus estimate of $78.30 million. On average, sell-side analysts expect that Nicolet Bankshares will post 6.93 EPS for the current year.

Nicolet Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 8th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Thursday, March 7th. Nicolet Bankshares’s dividend payout ratio is currently 15.41%.

Insider Transactions at Nicolet Bankshares

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

Hedge Funds Weigh In On Nicolet Bankshares

A number of large investors have recently added to or reduced their stakes in the business. UBS Group AG purchased a new position in shares of Nicolet Bankshares in the fourth quarter valued at about $417,000. Citigroup Inc. purchased a new position in shares of Nicolet Bankshares in the fourth quarter valued at about $35,000. Advisor Group Holdings Inc. purchased a new position in shares of Nicolet Bankshares in the fourth quarter valued at about $1,390,000. Victory Capital Management Inc. purchased a new position in shares of Nicolet Bankshares in the fourth quarter valued at about $401,000. Finally, Amalgamated Bank purchased a new position in shares of Nicolet Bankshares in the fourth quarter valued at about $131,000. Hedge funds and other institutional investors own 43.06% of the company’s stock.

Nicolet Bankshares Company Profile

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.