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

Nicolet Bankshares Inc. (NYSE:NIC) has been assigned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $183.00.

Several brokerages recently issued reports on NIC. Zacks Research upgraded shares of Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Weiss Ratings cut Nicolet Bankshares from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, August 31st. Raymond James Financial started coverage on Nicolet Bankshares in a report on Tuesday, June 23rd. They set a “market perform” rating for the company. Piper Sandler set a $194.00 price target on Nicolet Bankshares in a research report on Wednesday, July 22nd. Finally, Keefe, Bruyette & Woods increased their target price on shares of Nicolet Bankshares from $175.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd.

Insider Activity

In related news, Director Robert Atwell sold 2,662 shares of the stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $170.24, for a total transaction of $453,178.88. Following the completion of the sale, the director owned 34,483 shares in the company, valued at approximately $5,870,385.92. This trade represents a 7.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Eric Witczak sold 342 shares of Nicolet Bankshares stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $171.96, for a total value of $58,810.32. Following the sale, the executive vice president directly owned 33,288 shares in the company, valued at $5,724,204.48. This trade represents a 1.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,219 shares of company stock valued at $715,976 in the last quarter. 7.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nicolet Bankshares

Several hedge funds have recently modified their holdings of the stock. Clearstead Advisors LLC increased its position in Nicolet Bankshares by 192.9% in the fourth quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock worth $55,000 after purchasing an additional 297 shares during the last quarter. Parallel Advisors LLC raised its position in Nicolet Bankshares by 151.9% during the first quarter. Parallel Advisors LLC now owns 607 shares of the company’s stock valued at $90,000 after purchasing an additional 366 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Nicolet Bankshares by 82.1% in the 1st 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 period. KBC Group NV increased its position in shares of Nicolet Bankshares by 42.5% during the 1st quarter. KBC Group NV now owns 842 shares of the company’s stock valued at $125,000 after purchasing an additional 251 shares during the last quarter. Finally, Nykredit A S purchased a new stake in Nicolet Bankshares during the 2nd quarter valued at $143,000. Hedge funds and other institutional investors own 43.06% of the company’s stock.

Nicolet Bankshares Stock Performance

NIC stock opened at $171.48 on Tuesday. The company has a market cap of $3.59 billion, a P/E ratio of 19.46 and a beta of 0.64. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.90 and a quick ratio of 0.90. Nicolet Bankshares has a 1 year low of $114.11 and a 1 year high of $180.00. The stock’s fifty day moving average price is $170.88 and its 200-day moving average price is $156.58.

Nicolet Bankshares (NYSE:NIC) last posted its earnings results on Tuesday, July 21st. The company reported $2.99 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.14. The company had revenue of $177.75 million for the quarter, compared to the consensus estimate of $171.93 million. Nicolet Bankshares had a return on equity of 11.36% and a net margin of 21.77%. On average, equities analysts forecast that Nicolet Bankshares will post 12.3 earnings per share for the current year.

Nicolet Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.44 annualized dividend and a yield of 0.8%. Nicolet Bankshares’s dividend payout ratio is currently 16.35%.

About Nicolet Bankshares

Nicolet Bankshares, Inc is the bank holding company for Nicolet National Bank, a full-service community bank headquartered in Green Bay, Wisconsin. The bank provides financial services to businesses, individuals and institutions through a relationship-focused banking model.

Nicolet National Bank offers commercial and personal deposit accounts, business and consumer lending, mortgage services, treasury management and cash-management solutions. Its services also include wealth management, trust and investment services, helping customers manage borrowing, day-to-day finances and long-term financial goals.

Founded in 2000, Nicolet has expanded its presence across Wisconsin and into Michigan’s Upper Peninsula through organic growth and acquisitions.