Nicolet Bankshares (NYSE:NIC) PT Lowered to $88.00

Nicolet Bankshares (NYSE:NIC) had its price objective cut by equities researchers at Stephens from $92.00 to $88.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Stephens’ price target would indicate a potential upside of 10.14% from the company’s previous close.

A number of other research analysts have also recently issued reports on NIC. Hovde Group raised shares of Nicolet Bankshares from a “market perform” rating to an “outperform” rating in a report on Monday, March 4th. Keefe, Bruyette & Woods raised their price objective on shares of Nicolet Bankshares from $85.00 to $86.00 and gave the stock a “market perform” rating in a research note on Thursday. TheStreet raised shares of Nicolet Bankshares from a “c+” rating to a “b” rating in a research note on Wednesday, January 17th. Finally, Piper Sandler dropped their price objective on shares of Nicolet Bankshares from $88.00 to $82.50 and set a “neutral” rating for the company in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $87.88.

Nicolet Bankshares Trading Up 3.8 %

Shares of Nicolet Bankshares stock opened at $79.90 on Thursday. Nicolet Bankshares has a 12-month low of $51.76 and a 12-month high of $86.86. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.19 billion, a PE ratio of 12.31 and a beta of 0.74. The company has a 50-day moving average of $80.62 and a two-hundred day moving average of $77.74.

Insider Buying and Selling at Nicolet Bankshares

In other news, EVP Eric James Witczak sold 2,053 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $82.45, for a total transaction of $169,269.85. Following the sale, the executive vice president now owns 41,427 shares in the company, valued at $3,415,656.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Robert Bruce Atwell sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $81.93, for a total value of $163,860.00. Following the completion of the sale, the director now directly owns 42,889 shares in the company, valued at $3,513,895.77. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Eric James Witczak sold 2,053 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $82.45, for a total transaction of $169,269.85. Following the transaction, the executive vice president now directly owns 41,427 shares in the company, valued at approximately $3,415,656.15. The disclosure for this sale can be found here. 16.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nicolet Bankshares

Hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN acquired a new position in shares of Nicolet Bankshares in the 4th quarter valued at $35,000. Citigroup Inc. acquired a new position in shares of Nicolet Bankshares in the 4th quarter valued at $35,000. Metropolitan Life Insurance Co NY acquired a new position in shares of Nicolet Bankshares in the 4th quarter valued at $58,000. Tower Research Capital LLC TRC boosted its holdings in shares of Nicolet Bankshares by 92.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 912 shares of the company’s stock valued at $62,000 after purchasing an additional 439 shares during the last quarter. Finally, Harbour Investments Inc. boosted its holdings in shares of Nicolet Bankshares by 14.7% in the 4th quarter. Harbour Investments Inc. now owns 1,569 shares of the company’s stock valued at $126,000 after purchasing an additional 201 shares during the last quarter. Institutional investors and hedge funds own 43.06% of the company’s stock.

Nicolet Bankshares Company Profile

Nicolet Bankshares, Inc operates as the bank holding company for Nicolet National Bank that provides banking products and services for businesses and individuals in Wisconsin and Michigan. The company accepts checking, savings, and money market accounts; various certificates of deposit; and individual retirement accounts.