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

Shares of Nicolet Bankshares Inc. (NYSE:NIC) have earned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $176.50.

Several analysts recently commented on NIC shares. Weiss Ratings downgraded shares of Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Piper Sandler lowered their price target on shares of Nicolet Bankshares from $185.00 to $183.00 and set an “overweight” rating on the stock in a report on Wednesday, April 22nd. Zacks Research upgraded shares of Nicolet Bankshares from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Raymond James Financial assumed coverage on shares of Nicolet Bankshares in a research report on Tuesday, June 23rd. They set a “market perform” rating for the company. Finally, Hovde Group reduced their price objective on Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd.

Nicolet Bankshares Price Performance

Shares of NYSE NIC opened at $168.67 on Thursday. Nicolet Bankshares has a twelve month low of $114.11 and a twelve month high of $169.91. The business’s 50 day moving average price is $146.16 and its two-hundred day moving average price is $144.43. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.08. The company has a market cap of $3.58 billion, a PE ratio of 19.77 and a beta of 0.65.

Nicolet Bankshares (NYSE:NIC) last announced its quarterly earnings results 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 net margin of 21.89% and a return on equity of 11.48%. The business had revenue of $134.85 million for the quarter, compared to analyst estimates of $129.74 million. On average, analysts predict 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 was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Monday, June 1st. This is an increase from Nicolet Bankshares’s previous quarterly dividend of $0.32. Nicolet Bankshares’s payout ratio is 16.88%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position 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. Meeder Asset Management Inc. acquired a new position in shares of Nicolet Bankshares in the fourth quarter valued at about $48,000. Clearstead Advisors LLC grew its stake in shares of Nicolet Bankshares by 192.9% in the fourth quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock valued at $55,000 after acquiring an additional 297 shares in the last quarter. Parallel Advisors LLC increased its position in Nicolet Bankshares by 151.9% during the first quarter. Parallel Advisors LLC now owns 607 shares of the company’s stock worth $90,000 after acquiring an additional 366 shares during the period. Finally, UMB Bank n.a. acquired a new stake in Nicolet Bankshares in the 4th quarter worth about $102,000. 43.06% of the stock is owned by institutional investors and hedge funds.

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.