Nicolet Bankshares (NYSE:NIC) Price Target Raised to $115.00

Nicolet Bankshares (NYSE:NIC - Free Report) had its target price raised by Keefe, Bruyette & Woods from $110.00 to $115.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a market perform rating on the stock.

NIC has been the topic of several other reports. Maxim Group increased their target price on Nicolet Bankshares from $120.00 to $124.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. Piper Sandler raised their price objective on Nicolet Bankshares from $119.00 to $120.00 and gave the company a "neutral" rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $119.00.

Nicolet Bankshares Price Performance

Shares of NIC traded down $0.99 during trading hours on Thursday, hitting $109.23. 21,573 shares of the company were exchanged, compared to its average volume of 46,022. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 13.55 and a beta of 0.77. Nicolet Bankshares has a fifty-two week low of $73.00 and a fifty-two week high of $116.17. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The firm's fifty day moving average is $108.36 and its 200 day moving average is $100.79.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last released its earnings results on Tuesday, January 21st. The company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.23. Nicolet Bankshares had a return on equity of 10.95% and a net margin of 23.83%. On average, equities analysts anticipate that Nicolet Bankshares will post 7.82 earnings per share for the current fiscal year.

Nicolet Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $0.28 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.12 annualized dividend and a yield of 1.03%. Nicolet Bankshares's dividend payout ratio is presently 13.95%.

Insider Buying and Selling at Nicolet Bankshares

In other Nicolet Bankshares news, EVP Brad Vincent Hutjens sold 6,000 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $115.30, for a total value of $691,800.00. Following the completion of the transaction, the executive vice president now directly owns 26,674 shares in the company, valued at approximately $3,075,512.20. This trade represents a 18.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Bruce Atwell sold 14,171 shares of the firm's stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $103.00, for a total value of $1,459,613.00. Following the transaction, the director now owns 33,315 shares of the company's stock, valued at $3,431,445. This trade represents a 29.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 82,899 shares of company stock worth $9,053,273. 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. Quantbot Technologies LP bought a new position in shares of Nicolet Bankshares during the third quarter worth about $155,000. Virtu Financial LLC acquired a new stake in Nicolet Bankshares during the third quarter worth approximately $264,000. Quest Partners LLC grew its stake in Nicolet Bankshares by 858.0% during the third quarter. Quest Partners LLC now owns 2,922 shares of the company's stock worth $279,000 after purchasing an additional 2,617 shares during the period. BNP Paribas Financial Markets grew its stake in Nicolet Bankshares by 31.0% during the third quarter. BNP Paribas Financial Markets now owns 4,269 shares of the company's stock worth $408,000 after purchasing an additional 1,010 shares during the period. Finally, PDT Partners LLC acquired a new stake in Nicolet Bankshares during the third quarter worth approximately $412,000. 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.