Piper Sandler Reaffirms “Neutral” Rating for Nicolet Bankshares (NYSE:NIC)

Nicolet Bankshares (NYSE:NIC)‘s stock had its “neutral” rating reissued by investment analysts at Piper Sandler in a research note issued to investors on Wednesday, July 16th, MarketBeat Ratings reports. They currently have a $140.00 price target on the stock, up from their prior price target of $122.50. Piper Sandler’s price target points to a potential upside of 5.06% from the company’s previous close.

Separately, Keefe, Bruyette & Woods upped their target price on shares of Nicolet Bankshares from $115.00 to $118.00 and gave the company a “market perform” rating in a research note on Thursday, April 17th.

Nicolet Bankshares Trading Up 0.2%

NYSE NIC traded up $0.32 on Wednesday, hitting $133.25. The company’s stock had a trading volume of 68,879 shares, compared to its average volume of 120,142. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.13. Nicolet Bankshares has a 1-year low of $85.68 and a 1-year high of $141.92. The company’s 50-day moving average is $125.25 and its 200 day moving average is $117.15. The firm has a market cap of $2.01 billion, a PE ratio of 15.30 and a beta of 0.76.

Nicolet Bankshares (NYSE:NIC) last released its quarterly earnings data on Tuesday, July 15th. The company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.21. Nicolet Bankshares had a net margin of 25.12% and a return on equity of 11.53%. The company had revenue of $95.74 million during the quarter, compared to analyst estimates of $72.89 million. As a group, analysts predict that Nicolet Bankshares will post 8.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robert Bruce Atwell sold 6,904 shares of the firm’s stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $139.47, for a total transaction of $962,900.88. Following the sale, the director owned 34,220 shares of the company’s stock, valued at approximately $4,772,663.40. This trade represents a 16.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Eric James Witczak sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $139.77, for a total value of $698,850.00. Following the completion of the sale, the executive vice president owned 28,901 shares of the company’s stock, valued at approximately $4,039,492.77. This represents a 14.75% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,238 shares of company stock valued at $2,427,488. Company insiders own 16.40% of the company’s stock.

Institutional Trading of Nicolet Bankshares

Institutional investors have recently bought and sold shares of the company. Nicolet Bankshares Inc. increased its stake in Nicolet Bankshares by 5.5% in the first quarter. Nicolet Bankshares Inc. now owns 888,335 shares of the company’s stock valued at $96,793,000 after purchasing an additional 45,950 shares during the last quarter. Vanguard Group Inc. increased its stake in Nicolet Bankshares by 1.1% during the first quarter. Vanguard Group Inc. now owns 745,270 shares of the company’s stock worth $81,205,000 after acquiring an additional 8,147 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Nicolet Bankshares by 3.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 641,740 shares of the company’s stock worth $67,325,000 after acquiring an additional 21,819 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Nicolet Bankshares by 0.9% during the first quarter. The Manufacturers Life Insurance Company now owns 234,523 shares of the company’s stock worth $25,554,000 after acquiring an additional 2,031 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in Nicolet Bankshares by 5.1% during the fourth quarter. Janus Henderson Group PLC now owns 180,218 shares of the company’s stock worth $18,907,000 after acquiring an additional 8,698 shares during the last quarter. 43.06% of the stock is currently owned by hedge funds and other institutional investors.

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.