Nicolet Bankshares (NYSE:NIC) Price Target Cut to $82.50

Nicolet Bankshares (NYSE:NIC) had its price target dropped by stock analysts at Piper Sandler from $88.00 to $82.50 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s target price points to a potential upside of 7.17% from the company’s current price.

Several other brokerages have also recently weighed in on NIC. Hovde Group raised Nicolet Bankshares from a “market perform” rating to an “outperform” rating in a research note on Monday, March 4th. Stephens reissued an “equal weight” rating and issued a $92.00 price target on shares of Nicolet Bankshares in a research note on Wednesday. Keefe, Bruyette & Woods increased their price target on Nicolet Bankshares from $84.00 to $85.00 and gave the company a “market perform” rating in a research note on Thursday, January 18th. Finally, TheStreet raised Nicolet Bankshares from a “c+” rating to a “b” rating in a research note on Wednesday, January 17th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Nicolet Bankshares has a consensus rating of “Hold” and a consensus price target of $87.88.

Nicolet Bankshares Price Performance

Shares of NIC opened at $76.98 on Wednesday. Nicolet Bankshares has a 12-month low of $51.76 and a 12-month high of $86.86. The business has a 50-day simple moving average of $80.56 and a two-hundred day simple moving average of $77.66. 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 stock has a market cap of $1.14 billion, a PE ratio of 11.86 and a beta of 0.74.

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, beating the consensus estimate of $1.73 by $0.12. The company had revenue of $89.20 million during the quarter, compared to analysts’ expectations of $78.30 million. Nicolet Bankshares had a return on equity of 10.07% and a net margin of 20.60%. Analysts anticipate that Nicolet Bankshares will post 6.93 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NIC. Geode Capital Management LLC bought a new position in Nicolet Bankshares in the fourth quarter worth approximately $18,931,000. FMR LLC boosted its holdings in Nicolet Bankshares by 54.2% in the third quarter. FMR LLC now owns 556,958 shares of the company’s stock worth $38,865,000 after acquiring an additional 195,707 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Nicolet Bankshares by 130.1% in the second quarter. Alliancebernstein L.P. now owns 330,521 shares of the company’s stock worth $22,446,000 after acquiring an additional 186,872 shares in the last quarter. Charles Schwab Investment Management Inc. bought a new position in Nicolet Bankshares in the fourth quarter worth approximately $7,746,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Nicolet Bankshares by 8.9% in the first quarter. Dimensional Fund Advisors LP now owns 475,076 shares of the company’s stock worth $29,953,000 after acquiring an additional 38,925 shares in the last quarter. Institutional investors own 43.06% of the company’s stock.

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.