Nicolet Bankshares (NYSE:NIC) Reaches New 12-Month High - Here's Why

Nicolet Bankshares, Inc. (NYSE:NIC - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $120.26 and last traded at $119.00, with a volume of 41959 shares traded. The stock had previously closed at $119.18.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NIC. Piper Sandler increased their price objective on shares of Nicolet Bankshares from $119.00 to $120.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. Maxim Group increased their price target on shares of Nicolet Bankshares from $124.00 to $131.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Nicolet Bankshares from $110.00 to $115.00 and gave the stock a "market perform" rating in a research note on Thursday, January 23rd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Nicolet Bankshares has an average rating of "Hold" and a consensus price target of $119.00.

Nicolet Bankshares Trading Down 1.8 %

The business has a 50-day moving average of $109.91 and a 200 day moving average of $103.89. The stock has a market cap of $1.78 billion, a PE ratio of 14.58 and a beta of 0.77. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.96 and a current ratio of 0.96.

Nicolet Bankshares (NYSE:NIC - Get Free Report) last issued its quarterly earnings results on Tuesday, January 21st. The company reported $2.17 EPS for the quarter, topping analysts' consensus estimates of $1.94 by $0.23. Nicolet Bankshares had a net margin of 23.83% and a return on equity of 10.95%. Equities research analysts predict that Nicolet Bankshares, Inc. will post 8.18 EPS for the current fiscal year.

Insider Buying and Selling at Nicolet Bankshares

In related news, Director Robert Bruce Atwell sold 8,945 shares of the firm's stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $113.00, for a total value of $1,010,785.00. Following the sale, the director now directly owns 32,831 shares of the company's stock, valued at approximately $3,709,903. This trade represents a 21.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brad Vincent Hutjens sold 5,838 shares of the business's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $113.58, for a total transaction of $663,080.04. Following the completion of the sale, the executive vice president now owns 29,593 shares of the company's stock, valued at approximately $3,361,172.94. The trade was a 16.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 30,963 shares of company stock worth $3,520,226. Insiders own 16.40% of the company's stock.

Hedge Funds Weigh In On Nicolet Bankshares

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its position in shares of Nicolet Bankshares by 132.8% in the 4th quarter. JPMorgan Chase & Co. now owns 76,385 shares of the company's stock worth $8,014,000 after buying an additional 43,567 shares during the period. Renaissance Technologies LLC acquired a new stake in Nicolet Bankshares during the fourth quarter worth about $2,474,000. Dimensional Fund Advisors LP raised its holdings in shares of Nicolet Bankshares by 3.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 641,740 shares of the company's stock worth $67,325,000 after purchasing an additional 21,819 shares during the period. Martingale Asset Management L P acquired a new position in shares of Nicolet Bankshares in the 4th quarter valued at about $1,898,000. Finally, Teacher Retirement System of Texas lifted its stake in shares of Nicolet Bankshares by 284.8% in the 4th quarter. Teacher Retirement System of Texas now owns 22,035 shares of the company's stock valued at $2,312,000 after purchasing an additional 16,308 shares in the last quarter. Institutional investors and hedge funds 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.