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

Nicolet Bankshares (NYSE:NIC) had its price objective decreased by equities research analysts at Piper Sandler from $88.00 to $82.50 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 8.04% from the company’s current price.

A number of other research analysts have also issued reports on NIC. Keefe, Bruyette & Woods boosted 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. Stephens restated an “equal weight” rating and set a $92.00 target price on shares of Nicolet Bankshares in a research report on Wednesday. TheStreet upgraded shares of Nicolet Bankshares from a “c+” rating to a “b” rating in a research report on Wednesday, January 17th. Finally, Hovde Group upgraded shares of Nicolet Bankshares from a “market perform” rating to an “outperform” rating in a research report on Monday, March 4th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Nicolet Bankshares presently has a consensus rating of “Hold” and a consensus price target of $88.63.

Nicolet Bankshares Stock Performance

Shares of NYSE:NIC traded down $1.35 on Wednesday, reaching $76.36. The company’s stock had a trading volume of 39,049 shares, compared to its average volume of 38,637. Nicolet Bankshares has a 52-week low of $51.76 and a 52-week high of $86.86. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.95 and a quick ratio of 0.95. The stock’s 50-day moving average is $80.50 and its two-hundred day moving average is $77.68. The stock has a market capitalization of $1.13 billion, a P/E ratio of 18.53 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.12. Nicolet Bankshares had a net margin of 14.69% and a return on equity of 9.71%. The business had revenue of $89.20 million for the quarter, compared to analyst estimates of $78.30 million. As a group, sell-side analysts forecast that Nicolet Bankshares will post 6.93 EPS for the current year.

Insider Buying and Selling at Nicolet Bankshares

In other Nicolet Bankshares news, EVP Eric James Witczak sold 2,053 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $82.45, for a total value of $169,269.85. Following the sale, the executive vice president now owns 41,427 shares of the company’s stock, valued at $3,415,656.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Robert Bruce Atwell sold 2,000 shares of the company’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 transaction, the director now owns 42,889 shares of the company’s stock, valued at $3,513,895.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Eric James Witczak sold 2,053 shares of the company’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 transaction, the executive vice president now directly owns 41,427 shares in the company, valued at approximately $3,415,656.15. The disclosure for this sale can be found here. Insiders own 16.40% of the company’s stock.

Hedge Funds Weigh In On Nicolet Bankshares

Several institutional investors and hedge funds have recently modified their holdings of the company. Stifel Financial Corp lifted its stake in shares of Nicolet Bankshares by 0.9% during the third quarter. Stifel Financial Corp now owns 15,888 shares of the company’s stock valued at $1,109,000 after buying an additional 141 shares during the period. Harbour Investments Inc. raised its stake in Nicolet Bankshares by 14.7% during the fourth quarter. Harbour Investments Inc. now owns 1,569 shares of the company’s stock worth $126,000 after purchasing an additional 201 shares during the period. Legal & General Group Plc increased its position in shares of Nicolet Bankshares by 1.9% in the fourth quarter. Legal & General Group Plc now owns 12,680 shares of the company’s stock worth $1,019,000 after acquiring an additional 237 shares in the last quarter. Merit Financial Group LLC increased its position in shares of Nicolet Bankshares by 8.0% in the fourth quarter. Merit Financial Group LLC now owns 3,331 shares of the company’s stock worth $268,000 after acquiring an additional 246 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Nicolet Bankshares by 1.8% in the third quarter. PNC Financial Services Group Inc. now owns 14,250 shares of the company’s stock worth $994,000 after acquiring an additional 250 shares in the last quarter. Hedge funds and other 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.