Stephens Reiterates Equal Weight Rating for Nicolet Bankshares (NYSE:NIC)

Nicolet Bankshares (NYSE:NIC)‘s stock had its “equal weight” rating restated by equities research analysts at Stephens in a research note issued on Wednesday, Benzinga reports. They currently have a $92.00 price target on the stock. Stephens’ target price indicates a potential upside of 20.48% from the stock’s previous close.

A number of other brokerages have also recently commented on NIC. TheStreet raised Nicolet Bankshares from a “c+” rating to a “b” rating in a research note on Wednesday, January 17th. Hovde Group raised Nicolet Bankshares from a “market perform” rating to an “outperform” rating in a research note on Monday, March 4th. Keefe, Bruyette & Woods boosted their target price 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, Piper Sandler reissued a “neutral” rating and issued a $84.00 target price on shares of Nicolet Bankshares in a research note on Wednesday, January 10th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Nicolet Bankshares has a consensus rating of “Hold” and an average price target of $88.63.

Nicolet Bankshares Stock Down 1.7 %

NIC stock traded down $1.35 during mid-day trading on Wednesday, hitting $76.36. The stock had a trading volume of 39,049 shares, compared to its average volume of 38,637. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.16. Nicolet Bankshares has a 1-year low of $51.76 and a 1-year high of $86.86. The company has a fifty day moving average of $80.50 and a 200 day moving average of $77.68. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 18.53 and a beta of 0.74.

Nicolet Bankshares (NYSE:NIC) last issued its quarterly earnings data on Tuesday, January 16th. The company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.12. The business had revenue of $89.20 million for the quarter, compared to analyst estimates of $78.30 million. Nicolet Bankshares had a return on equity of 9.71% and a net margin of 14.69%. On average, equities analysts expect that Nicolet Bankshares will post 6.93 EPS for the current fiscal year.

Insider Activity

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

Institutional Trading of Nicolet Bankshares

Hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its holdings in Nicolet Bankshares by 1.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 14,250 shares of the company’s stock worth $994,000 after purchasing an additional 250 shares during the last quarter. FMR LLC lifted its holdings in Nicolet Bankshares by 54.2% during the 3rd quarter. FMR LLC now owns 556,958 shares of the company’s stock worth $38,865,000 after purchasing an additional 195,707 shares during the last quarter. Swiss National Bank lifted its holdings in Nicolet Bankshares by 1.4% during the 3rd quarter. Swiss National Bank now owns 29,100 shares of the company’s stock worth $2,031,000 after purchasing an additional 400 shares during the last quarter. KLCM Advisors Inc. acquired a new stake in Nicolet Bankshares during the 3rd quarter worth approximately $215,000. Finally, Barclays PLC lifted its holdings in Nicolet Bankshares by 13.0% during the 3rd quarter. Barclays PLC now owns 13,081 shares of the company’s stock worth $913,000 after purchasing an additional 1,506 shares during the last quarter. 43.06% of the stock is owned by institutional investors and hedge funds.

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.