Keefe, Bruyette & Woods Issues Positive Forecast for Nicolet Bankshares (NYSE:NIC) Stock Price

Nicolet Bankshares (NYSE:NIC) had its price target hoisted by Keefe, Bruyette & Woods from $160.00 to $165.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 26.06% from the stock’s current price.

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Nicolet Bankshares in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $155.33.

Nicolet Bankshares Trading Down 0.5%

NYSE:NIC traded down $0.65 on Wednesday, reaching $130.89. The stock had a trading volume of 36,928 shares, compared to its average volume of 82,636. Nicolet Bankshares has a 12-month low of $97.90 and a 12-month high of $141.92. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 14.01 and a beta of 0.76. The firm’s fifty day moving average is $125.79 and its two-hundred day moving average is $128.33. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.96.

Nicolet Bankshares (NYSE:NIC) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.32. The business had revenue of $102.88 million during the quarter, compared to analyst estimates of $76.83 million. Nicolet Bankshares had a net margin of 26.39% and a return on equity of 12.08%. Equities analysts expect that Nicolet Bankshares will post 8.18 EPS for the current fiscal year.

Insider Buying and Selling at Nicolet Bankshares

In other news, Director Robert J. Weyers acquired 3,000 shares of Nicolet Bankshares stock in a transaction dated Thursday, October 30th. The shares were acquired at an average cost of $115.73 per share, with a total value of $347,190.00. Following the purchase, the director directly owned 26,250 shares of the company’s stock, valued at approximately $3,037,912.50. This trade represents a 12.90% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Hubert Phillip Moore, Jr. bought 240 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The shares were acquired at an average cost of $115.84 per share, with a total value of $27,801.60. Following the transaction, the chief financial officer owned 32,947 shares in the company, valued at approximately $3,816,580.48. This represents a 0.73% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 3,370 shares of company stock worth $390,760 over the last ninety days. Corporate insiders own 14.20% of the company’s stock.

Institutional Investors Weigh In On Nicolet Bankshares

Several large investors have recently made changes to their positions in the business. Nicolet Bankshares Inc. raised its stake in shares of Nicolet Bankshares by 5.5% in the 1st quarter. Nicolet Bankshares Inc. now owns 888,335 shares of the company’s stock valued at $96,793,000 after acquiring an additional 45,950 shares during the period. Vanguard Group Inc. increased its holdings in Nicolet Bankshares by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 745,270 shares of the company’s stock valued at $81,205,000 after purchasing an additional 8,147 shares in the last quarter. First Trust Advisors LP raised its position in Nicolet Bankshares by 4.1% in the third quarter. First Trust Advisors LP now owns 540,486 shares of the company’s stock valued at $72,695,000 after purchasing an additional 21,473 shares during the period. The Manufacturers Life Insurance Company raised its position in Nicolet Bankshares by 0.9% in the first quarter. The Manufacturers Life Insurance Company now owns 234,523 shares of the company’s stock valued at $25,554,000 after purchasing an additional 2,031 shares during the period. Finally, Boston Partners lifted its stake in shares of Nicolet Bankshares by 40.6% during the third quarter. Boston Partners now owns 199,396 shares of the company’s stock worth $26,789,000 after purchasing an additional 57,536 shares in the last quarter. Institutional investors and hedge funds 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.