Piper Sandler Trims Nicolet Bankshares (NYSE:NIC) Target Price to $82.50

Nicolet Bankshares (NYSE:NIC) had its price objective reduced by Piper Sandler from $88.00 to $82.50 in a report released on Wednesday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Other equities analysts have also recently issued reports about the stock. Stephens reaffirmed an equal weight rating and set a $92.00 price target on shares of Nicolet Bankshares in a research note on Wednesday. TheStreet raised shares of Nicolet Bankshares from a c+ rating to a b rating in a research note on Wednesday, January 17th. Hovde Group raised shares of Nicolet Bankshares from a market perform rating to an outperform rating in a research note on Monday, March 4th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Nicolet Bankshares from $84.00 to $85.00 and gave the stock a market perform rating in a research note on Thursday, January 18th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $87.88.

Nicolet Bankshares Stock Performance

Shares of NYSE:NIC opened at $79.90 on Wednesday. Nicolet Bankshares has a 52 week low of $51.76 and a 52 week high of $86.86. The stock has a market capitalization of $1.19 billion, a P/E ratio of 12.31 and a beta of 0.74. The firm has a fifty day simple moving average of $80.62 and a two-hundred day simple moving average of $77.74. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.16.

Nicolet Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 8th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, March 7th. This represents a $1.00 dividend on an annualized basis and a yield of 1.25%. Nicolet Bankshares’s payout ratio is 15.41%.

Insider Activity at Nicolet Bankshares

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

Institutional Investors Weigh In On Nicolet Bankshares

Several large investors have recently modified their holdings of the business. Stifel Financial Corp raised its holdings in shares of Nicolet Bankshares by 0.9% in the 3rd quarter. Stifel Financial Corp now owns 15,888 shares of the company’s stock valued at $1,109,000 after purchasing an additional 141 shares in the last quarter. Harbour Investments Inc. raised 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 in the last quarter. Legal & General Group Plc raised its holdings in shares of Nicolet Bankshares by 1.9% in the 4th quarter. Legal & General Group Plc now owns 12,680 shares of the company’s stock valued at $1,019,000 after purchasing an additional 237 shares in the last quarter. Merit Financial Group LLC raised its holdings in shares of Nicolet Bankshares by 8.0% in the 4th quarter. Merit Financial Group LLC now owns 3,331 shares of the company’s stock valued at $268,000 after purchasing an additional 246 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Nicolet Bankshares by 1.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 14,250 shares of the company’s stock worth $994,000 after buying an additional 250 shares during the last quarter. Institutional investors own 43.06% of the company’s stock.

About Nicolet Bankshares

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.