Nicolet Bankshares (NYSE:NIC) Posts Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Nicolet Bankshares (NYSE:NIC) issued its earnings results on Tuesday. The company reported $2.99 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.14, FiscalAI reports. Nicolet Bankshares had a return on equity of 11.48% and a net margin of 21.89%.

Nicolet Bankshares Trading Up 0.5%

NIC traded up $0.83 during trading hours on Tuesday, reaching $167.85. The company’s stock had a trading volume of 225,453 shares, compared to its average volume of 231,023. Nicolet Bankshares has a fifty-two week low of $114.11 and a fifty-two week high of $173.48. The stock has a market cap of $3.57 billion, a PE ratio of 19.68 and a beta of 0.65. The business’s 50-day moving average is $151.17 and its 200-day moving average is $147.96. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.91 and a quick ratio of 0.91.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Zacks Research upgraded Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research report 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. Piper Sandler cut their target price on Nicolet Bankshares from $185.00 to $183.00 and set an “overweight” rating for the company in a research note on Wednesday, April 22nd. Weiss Ratings lowered Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Finally, Raymond James Financial assumed coverage on shares of Nicolet Bankshares in a research report on Tuesday, June 23rd. They set a “market perform” rating on the stock. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $176.50.

Institutional Investors Weigh In On Nicolet Bankshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp lifted 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 purchasing an additional 26,893 shares during the last quarter. Boston Partners increased its position in shares of Nicolet Bankshares by 40.6% during the 3rd quarter. Boston Partners now owns 199,396 shares of the company’s stock worth $26,789,000 after purchasing an additional 57,536 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Nicolet Bankshares by 91.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 120,218 shares of the company’s stock valued at $14,582,000 after buying an additional 57,280 shares during the period. Tudor Investment Corp ET AL raised its holdings in Nicolet Bankshares by 196.0% in the 4th quarter. Tudor Investment Corp ET AL now owns 84,708 shares of the company’s stock valued at $10,275,000 after buying an additional 56,086 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Nicolet Bankshares by 247.1% in the fourth quarter. JPMorgan Chase & Co. now owns 82,920 shares of the company’s stock valued at $10,058,000 after buying an additional 59,031 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.