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

Nicolet Bankshares (NYSE:NIC) had its target price increased by stock analysts at Piper Sandler from $119.00 to $120.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 9.86% from the stock’s previous close.

A number of other research firms also recently issued reports on NIC. Maxim Group raised their target price on Nicolet Bankshares from $120.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods lifted their price objective on Nicolet Bankshares from $100.00 to $110.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Nicolet Bankshares has a consensus rating of “Hold” and an average target price of $119.00.

Nicolet Bankshares Price Performance

Shares of NYSE:NIC opened at $109.23 on Wednesday. The company has a market capitalization of $1.66 billion, a P/E ratio of 13.60 and a beta of 0.77. The company’s 50-day moving average is $108.36 and its 200 day moving average is $100.79. 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 has a fifty-two week low of $73.00 and a fifty-two week high of $116.17.

Nicolet Bankshares (NYSE:NIC) last released its earnings results on Tuesday, January 21st. The company reported $2.17 earnings per share for the quarter, beating 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%. On average, equities research analysts forecast that Nicolet Bankshares will post 7.82 earnings per share for the current year.

Insider Activity

In other news, EVP Brad Vincent Hutjens sold 1,516 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $112.85, for a total transaction of $171,080.60. Following the completion of the transaction, the executive vice president now directly owns 29,593 shares in the company, valued at $3,339,570.05. The trade was a 4.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Bruce Atwell sold 2,721 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $103.00, for a total value of $280,263.00. Following the completion of the sale, the director now owns 33,315 shares in the company, valued at $3,431,445. This trade represents a 7.55 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 81,820 shares of company stock worth $8,942,298. 16.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nicolet Bankshares

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

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.