Piper Sandler Cuts Nicolet Bankshares (NYSE:NIC) Price Target to $118.00

Nicolet Bankshares (NYSE:NIC) had its target price trimmed by Piper Sandler from $120.00 to $118.00 in a report published on Wednesday, Marketbeat reports. The brokerage currently has a neutral rating on the stock.

Other equities analysts have also recently issued reports about the company. Maxim Group raised their price objective on Nicolet Bankshares from $124.00 to $131.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods raised their price target on shares of Nicolet Bankshares from $110.00 to $115.00 and gave the stock a “market perform” rating in a research report on Thursday, January 23rd.

Nicolet Bankshares Price Performance

Shares of NIC stock opened at $110.67 on Wednesday. The firm has a fifty day moving average of $111.91 and a two-hundred day moving average of $108.62. The firm has a market cap of $1.68 billion, a P/E ratio of 13.78 and a beta of 0.69. Nicolet Bankshares has a 1-year low of $76.01 and a 1-year high of $121.52. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.96.

Nicolet Bankshares (NYSE:NIC) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.14. Nicolet Bankshares had a return on equity of 10.95% and a net margin of 23.83%. The business had revenue of $89.43 million during the quarter, compared to the consensus estimate of $70.08 million. As a group, research analysts anticipate that Nicolet Bankshares will post 8.18 earnings per share for the current fiscal year.

Nicolet Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Monday, March 10th. Nicolet Bankshares’s payout ratio is 13.95%.

Insider Transactions at Nicolet Bankshares

In other news, Director Robert Bruce Atwell sold 3,975 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $118.08, for a total transaction of $469,368.00. Following the transaction, the director now directly owns 30,317 shares of the company’s stock, valued at approximately $3,579,831.36. This trade represents a 11.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan L. Merkatoris sold 300 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $115.26, for a total transaction of $34,578.00. Following the completion of the transaction, the director now owns 81,918 shares of the company’s stock, valued at $9,441,868.68. This represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,527 shares of company stock worth $996,674. Insiders own 16.40% of the company’s stock.

Institutional Trading of Nicolet Bankshares

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its stake in shares of Nicolet Bankshares by 3.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 641,740 shares of the company’s stock valued at $67,325,000 after acquiring an additional 21,819 shares during the period. State Street Corp increased its position in shares of Nicolet Bankshares by 3.7% during the 3rd quarter. State Street Corp now owns 381,755 shares of the company’s stock valued at $36,507,000 after purchasing an additional 13,772 shares during the period. Geode Capital Management LLC raised its stake in shares of Nicolet Bankshares by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 303,391 shares of the company’s stock worth $29,019,000 after buying an additional 4,911 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Nicolet Bankshares by 5.1% in the fourth quarter. Janus Henderson Group PLC now owns 180,218 shares of the company’s stock valued at $18,907,000 after buying an additional 8,698 shares during the period. Finally, Northern Trust Corp boosted its stake in Nicolet Bankshares by 1.2% during the fourth quarter. Northern Trust Corp now owns 134,755 shares of the company’s stock valued at $14,137,000 after buying an additional 1,607 shares in the last quarter. 43.06% of the stock is currently owned by institutional investors.

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.