Nicolet Bankshares (NYSE:NIC) Price Target Raised to $120.00 at Piper Sandler

Nicolet Bankshares (NYSE:NIC) had its price objective hoisted by Piper Sandler from $119.00 to $120.00 in a research note released on Wednesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

A number of other brokerages have also issued reports on NIC. Keefe, Bruyette & Woods lifted their price target on shares of Nicolet Bankshares from $100.00 to $110.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Maxim Group raised their price objective on shares of Nicolet Bankshares from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Nicolet Bankshares has an average rating of “Hold” and an average price target of $116.00.

Nicolet Bankshares Stock Performance

Shares of NIC stock opened at $110.07 on Wednesday. The company’s fifty day moving average price is $108.40 and its two-hundred day moving average price is $100.73. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market capitalization of $1.67 billion, a P/E ratio of 14.00 and a beta of 0.77. Nicolet Bankshares has a 12 month low of $73.00 and a 12 month high of $116.17.

Nicolet Bankshares (NYSE:NIC) last released its quarterly earnings results on Tuesday, January 21st. The company reported $2.17 EPS for the quarter, topping the consensus estimate of $1.94 by $0.23. Nicolet Bankshares had a return on equity of 10.56% and a net margin of 23.35%. On average, research analysts anticipate that Nicolet Bankshares will post 7.61 earnings per share for the current fiscal year.

Nicolet Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Monday, December 2nd. Nicolet Bankshares’s dividend payout ratio is currently 13.95%.

Insider Buying and Selling

In related news, Director Robert Bruce Atwell sold 2,721 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $103.00, for a total transaction of $280,263.00. Following the sale, the director now owns 33,315 shares in the company, valued at $3,431,445. This represents a 7.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brad Vincent Hutjens sold 1,079 shares of Nicolet Bankshares stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $102.85, for a total value of $110,975.15. Following the completion of the transaction, the executive vice president now owns 26,674 shares of the company’s stock, valued at approximately $2,743,420.90. The trade was a 3.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 82,899 shares of company stock worth $9,053,273 over the last ninety days. 16.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Nicolet Bankshares

Large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its holdings in shares of Nicolet Bankshares by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 587,488 shares of the company’s stock valued at $48,783,000 after acquiring an additional 16,952 shares during the period. Los Angeles Capital Management LLC bought a new stake in Nicolet Bankshares in the 3rd quarter valued at about $528,000. Barclays PLC boosted its stake in Nicolet Bankshares by 170.7% during the 3rd quarter. Barclays PLC now owns 23,978 shares of the company’s stock valued at $2,291,000 after purchasing an additional 15,121 shares during the period. State Street Corp grew its position in Nicolet Bankshares by 3.7% in the 3rd quarter. State Street Corp now owns 381,755 shares of the company’s stock worth $36,507,000 after purchasing an additional 13,772 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Nicolet Bankshares by 1.6% in the third quarter. Geode Capital Management LLC now owns 303,391 shares of the company’s stock valued at $29,019,000 after purchasing an additional 4,911 shares during the period. 43.06% of the stock is owned by institutional investors and hedge funds.

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.