Maxim Group Issues Positive Forecast for Nicolet Bankshares (NYSE:NIC) Stock Price

Nicolet Bankshares (NYSE:NIC) had its target price lifted by Maxim Group from $124.00 to $131.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts also recently weighed in on the stock. Piper Sandler increased their target price on shares of Nicolet Bankshares from $119.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday. Keefe, Bruyette & Woods increased 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 report on Thursday. Three equities research 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, Nicolet Bankshares currently has an average rating of “Hold” and a consensus price target of $119.00.

Nicolet Bankshares Stock Performance

Shares of Nicolet Bankshares stock opened at $109.47 on Thursday. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 13.63 and a beta of 0.77. Nicolet Bankshares has a twelve month low of $73.00 and a twelve month high of $116.17. The company’s fifty day moving average is $108.26 and its 200 day moving average is $101.05. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.14.

Nicolet Bankshares (NYSE:NIC) last released its quarterly earnings results on Tuesday, January 21st. The company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.23. Nicolet Bankshares had a return on equity of 10.95% and a net margin of 23.83%. Sell-side analysts forecast that Nicolet Bankshares will post 8.1 EPS for the current year.

Nicolet Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Monday, December 2nd. Nicolet Bankshares’s dividend payout ratio (DPR) is presently 13.95%.

Insiders Place Their Bets

In other news, Director Robert Bruce Atwell sold 7,609 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $113.00, for a total transaction of $859,817.00. Following the transaction, the director now owns 32,831 shares in the company, valued at approximately $3,709,903. This represents a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Brad Vincent Hutjens sold 13,500 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $106.35, for a total value of $1,435,725.00. Following the completion of the sale, the executive vice president now owns 26,674 shares of the company’s stock, valued at approximately $2,836,779.90. This represents a 33.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 81,820 shares of company stock worth $8,942,298. Corporate insiders own 16.40% of the company’s stock.

Hedge Funds Weigh In On Nicolet Bankshares

Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in shares of Nicolet Bankshares by 111.7% during the third quarter. JPMorgan Chase & Co. now owns 32,818 shares of the company’s stock valued at $3,138,000 after buying an additional 17,314 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Nicolet Bankshares by 3.0% in the 2nd 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 in the last quarter. 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 last quarter. State Street Corp increased its holdings in Nicolet Bankshares by 3.7% during 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 in the last quarter. Finally, Heck Capital Advisors LLC bought a new stake in Nicolet Bankshares during the 4th quarter worth approximately $629,000. 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.