Nicolet Bankshares Inc. (NYSE:NIC) Given Consensus Rating of “Moderate Buy” by Brokerages

Nicolet Bankshares Inc. (NYSE:NIC) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $176.50.

A number of equities analysts have recently commented on the stock. Zacks Research downgraded shares of Nicolet Bankshares from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 20th. Piper Sandler cut their target price on shares of Nicolet Bankshares from $185.00 to $183.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 22nd. Hovde Group cut their target price on shares of Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Finally, Weiss Ratings downgraded shares of Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th.

Insider Transactions at Nicolet Bankshares

In related news, Director Robert Bruce Atwell sold 3,309 shares of Nicolet Bankshares stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $149.82, for a total transaction of $495,754.38. Following the sale, the director owned 34,054 shares of the company’s stock, valued at $5,101,970.28. The trade was a 8.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 7.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nicolet Bankshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its stake in Nicolet Bankshares by 3,940.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock worth $25,000 after buying an additional 197 shares during the period. Jones Financial Companies Lllp purchased a new stake in Nicolet Bankshares during the 3rd quarter worth $43,000. Meeder Asset Management Inc. purchased a new stake in Nicolet Bankshares during the 4th quarter worth $48,000. Clearstead Advisors LLC increased its stake in Nicolet Bankshares by 192.9% during the 4th quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock worth $55,000 after buying an additional 297 shares during the period. Finally, Parallel Advisors LLC increased its stake in Nicolet Bankshares by 151.9% during the 1st quarter. Parallel Advisors LLC now owns 607 shares of the company’s stock worth $90,000 after buying an additional 366 shares during the period. Hedge funds and other institutional investors own 43.06% of the company’s stock.

Nicolet Bankshares Stock Performance

Shares of NIC stock opened at $137.53 on Friday. The company’s fifty day simple moving average is $146.10 and its 200-day simple moving average is $140.93. Nicolet Bankshares has a 52 week low of $114.11 and a 52 week high of $163.11. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The company has a market cap of $2.92 billion, a PE ratio of 16.12 and a beta of 0.67.

Nicolet Bankshares (NYSE:NIC) last issued its earnings results on Tuesday, April 21st. The company reported $2.75 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.23). Nicolet Bankshares had a net margin of 21.89% and a return on equity of 11.48%. The business had revenue of $134.85 million during the quarter, compared to analysts’ expectations of $129.74 million. As a group, equities research analysts anticipate that Nicolet Bankshares will post 11.75 EPS for the current year.

Nicolet Bankshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a dividend of $0.36 per share. This is a positive change from Nicolet Bankshares’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.44 annualized dividend and a yield of 1.0%. Nicolet Bankshares’s payout ratio is presently 16.88%.

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.