Nicolet Bankshares (NYSE:NIC) Given New $82.50 Price Target at Piper Sandler

Nicolet Bankshares (NYSE:NIC) had its target price cut by Piper Sandler from $88.00 to $82.50 in a research report report published on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other analysts have also weighed in on NIC. TheStreet raised shares of Nicolet Bankshares from a c+ rating to a b rating in a research note on Wednesday, January 17th. Keefe, Bruyette & Woods upped 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. 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, Stephens reaffirmed an equal weight rating and issued a $92.00 price target on shares of Nicolet Bankshares in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and an average target price of $88.63.

Nicolet Bankshares Trading Down 2.2 %

Nicolet Bankshares stock opened at $76.04 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average price of $80.52 and a two-hundred day moving average price of $77.66. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 11.72 and a beta of 0.74. Nicolet Bankshares has a 52-week low of $51.76 and a 52-week high of $86.86.

Nicolet Bankshares (NYSE:NIC) last issued its quarterly earnings results on Tuesday, January 16th. The company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.12. The company had revenue of $89.20 million during the quarter, compared to analyst estimates of $78.30 million. Nicolet Bankshares had a net margin of 20.60% and a return on equity of 10.07%. Sell-side analysts expect that Nicolet Bankshares will post 6.93 earnings per share for the current year.

Nicolet Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 8th were issued a $0.25 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.32%. Nicolet Bankshares’s payout ratio is currently 15.41%.

Insider Activity

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NIC. Geode Capital Management LLC acquired a new position in Nicolet Bankshares in the 4th quarter valued at approximately $18,931,000. FMR LLC increased its stake in Nicolet Bankshares by 54.2% in the 3rd quarter. FMR LLC now owns 556,958 shares of the company’s stock valued at $38,865,000 after buying an additional 195,707 shares during the period. Alliancebernstein L.P. increased its stake in Nicolet Bankshares by 130.1% in the 2nd quarter. Alliancebernstein L.P. now owns 330,521 shares of the company’s stock valued at $22,446,000 after buying an additional 186,872 shares during the period. Charles Schwab Investment Management Inc. acquired a new position in Nicolet Bankshares in the 4th quarter valued at approximately $7,746,000. Finally, Dimensional Fund Advisors LP increased its stake in Nicolet Bankshares by 8.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 475,076 shares of the company’s stock valued at $29,953,000 after buying an additional 38,925 shares during the period. 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.