Nicolet Bankshares (NYSE:NIC) Sets New 12-Month High – Time to Buy?

Nicolet Bankshares Inc. (NYSE:NIC)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $169.91 and last traded at $168.6690, with a volume of 248813 shares. The stock had previously closed at $165.39.

Wall Street Analyst Weigh In

NIC has been the topic of several recent research reports. Piper Sandler lowered their price target on shares of Nicolet Bankshares from $185.00 to $183.00 and set an “overweight” rating for the company in a report on Wednesday, April 22nd. Raymond James Financial started coverage on Nicolet Bankshares in a research report on Tuesday, June 23rd. They set a “market perform” rating on the stock. Zacks Research raised Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Hovde Group dropped their target price on Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Finally, Weiss Ratings downgraded Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $176.50.

Nicolet Bankshares Price Performance

The company has a market capitalization of $3.58 billion, a P/E ratio of 19.77 and a beta of 0.65. The firm’s fifty day moving average is $146.16 and its 200 day moving average is $144.43. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 0.91.

Nicolet Bankshares (NYSE:NIC) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $2.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.23). Nicolet Bankshares had a return on equity of 11.48% and a net margin of 21.89%.The firm had revenue of $134.85 million during the quarter, compared to the consensus estimate of $129.74 million. As a group, analysts predict that Nicolet Bankshares Inc. will post 11.75 earnings per share for the current fiscal year.

Nicolet Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a $0.36 dividend. The ex-dividend date was Monday, June 1st. This is a positive change from Nicolet Bankshares’s previous quarterly dividend of $0.32. This represents a $1.44 annualized dividend and a dividend yield of 0.9%. Nicolet Bankshares’s dividend payout ratio (DPR) is currently 16.88%.

Hedge Funds Weigh In On Nicolet Bankshares

A number of large investors have recently bought and sold shares of the business. Parallel Advisors LLC grew its position in Nicolet Bankshares by 151.9% in the 1st quarter. Parallel Advisors LLC now owns 607 shares of the company’s stock valued at $90,000 after acquiring an additional 366 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Nicolet Bankshares by 109.8% during the first quarter. Bank of America Corp DE now owns 31,420 shares of the company’s stock valued at $4,670,000 after purchasing an additional 16,446 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Nicolet Bankshares by 2.7% during the first quarter. Janus Henderson Group PLC now owns 104,081 shares of the company’s stock valued at $15,466,000 after purchasing an additional 2,701 shares during the period. Smith Group Asset Management LLC grew its holdings in shares of Nicolet Bankshares by 9.3% in the first quarter. Smith Group Asset Management LLC now owns 2,230 shares of the company’s stock worth $331,000 after purchasing an additional 189 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Nicolet Bankshares by 82.1% in the first quarter. EverSource Wealth Advisors LLC now owns 630 shares of the company’s stock worth $94,000 after purchasing an additional 284 shares during the last quarter. Hedge funds and other institutional investors own 43.06% of the company’s stock.

About Nicolet Bankshares

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.