Nicolet Bankshares (NYSE:NIC) Reaches New 1-Year High – Here’s Why

Nicolet Bankshares Inc. (NYSE:NIC) shares hit a new 52-week high during trading on Monday . The stock traded as high as $162.00 and last traded at $163.2040, with a volume of 435242 shares changing hands. The stock had previously closed at $158.67.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on NIC shares. Piper Sandler raised shares of Nicolet Bankshares from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $148.00 to $185.00 in a research note on Thursday. Hovde Group reissued an “outperform” rating and set a $190.00 target price on shares of Nicolet Bankshares in a research note on Tuesday, January 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Nicolet Bankshares in a research note on Thursday, January 22nd. Zacks Research upgraded Nicolet Bankshares from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 30th. Finally, Keefe, Bruyette & Woods raised their target price on Nicolet Bankshares from $165.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to data from MarketBeat.com, Nicolet Bankshares presently has a consensus rating of “Buy” and an average price target of $179.50.

Nicolet Bankshares Trading Down 3.0%

The business’s 50-day simple moving average is $137.48 and its two-hundred day simple moving average is $132.21. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 15.99 and a beta of 0.78. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.11.

Nicolet Bankshares (NYSE:NIC) last posted its quarterly earnings data on Tuesday, January 20th. The company reported $2.73 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.18. The firm had revenue of $103.99 million during the quarter, compared to analysts’ expectations of $79.67 million. Nicolet Bankshares had a net margin of 26.98% and a return on equity of 12.65%. Equities analysts forecast that Nicolet Bankshares Inc. will post 8.18 earnings per share for the current year.

Nicolet Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, March 2nd. Nicolet Bankshares’s dividend payout ratio is currently 13.06%.

Insider Activity at Nicolet Bankshares

In related news, Director Robert Bruce Atwell sold 6,396 shares of Nicolet Bankshares stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $155.47, for a total value of $994,386.12. Following the completion of the transaction, the director owned 34,054 shares in the company, valued at approximately $5,294,375.38. The trade was a 15.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 14.20% of the company’s stock.

Institutional Trading of Nicolet Bankshares

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Nicolet Bankshares by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 737,578 shares of the company’s stock valued at $89,468,000 after purchasing an additional 22,474 shares during the period. First Trust Advisors LP raised its position in Nicolet Bankshares by 4.1% in the 3rd 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 in the last quarter. State Street Corp boosted its stake in shares of Nicolet Bankshares by 6.2% in the 4th quarter. State Street Corp now owns 458,724 shares of the company’s stock valued at $55,643,000 after buying an additional 26,893 shares during the period. Boston Partners grew its position 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 buying an additional 57,536 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Nicolet Bankshares by 485.7% during the second quarter. American Century Companies Inc. now owns 184,281 shares of the company’s stock worth $22,755,000 after buying an additional 152,817 shares during the period. Hedge funds and other institutional investors own 43.06% of the company’s stock.

Nicolet Bankshares Company Profile

Nicolet Bankshares, Inc is a bank holding company headquartered in Green Bay, Wisconsin. Through its subsidiary, Nicolet National Bank, it provides a range of commercial and consumer banking services to businesses, individuals and nonprofit organizations across northeastern Wisconsin and the Upper Peninsula of Michigan. The company’s branch network, digital banking platform and commercial lending centers support its focus on community banking and regional growth.

The company offers deposit products such as checking, savings and money market accounts, alongside consumer and commercial lending solutions.