Nicolet Bankshares (NYSE:NIC) Hits New 1-Year High – Still a Buy?

by · The Markets Daily

Nicolet Bankshares Inc. (NYSE:NICGet Free Report) shares hit a new 52-week high on Monday . The company traded as high as $154.27 and last traded at $153.7350, with a volume of 30556 shares trading hands. The stock had previously closed at $152.25.

Analyst Ratings Changes

A number of analysts have recently weighed in on NIC shares. Maxim Group upped their target price on shares of Nicolet Bankshares from $161.00 to $173.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Hovde Group reiterated an “outperform” rating and set a $190.00 target price on shares of Nicolet Bankshares in a report on Tuesday, January 27th. Weiss Ratings restated a “buy (b)” rating on shares of Nicolet Bankshares in a research note on Thursday, January 22nd. Piper Sandler lifted their price objective on Nicolet Bankshares from $145.00 to $148.00 and gave the company a “neutral” rating in a research note on Wednesday, January 21st. Finally, Zacks Research raised Nicolet Bankshares from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 30th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $170.25.

Get Our Latest Stock Analysis on NIC

Nicolet Bankshares Price Performance

The stock has a market capitalization of $2.27 billion, a PE ratio of 15.63 and a beta of 0.79. The firm’s fifty day moving average price is $132.29 and its two-hundred day moving average price is $130.42. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.11.

Nicolet Bankshares (NYSE:NICGet Free Report) last posted its earnings results on Tuesday, January 20th. The company reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.18. The company had revenue of $103.99 million for the quarter, compared to the consensus estimate of $79.67 million. Nicolet Bankshares had a return on equity of 12.65% and a net margin of 26.98%. On average, equities analysts predict that Nicolet Bankshares Inc. will post 8.18 earnings per share for the current year.

Nicolet Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, March 2nd. Nicolet Bankshares’s payout ratio is currently 13.06%.

Hedge Funds Weigh In On Nicolet Bankshares

Several large investors have recently made changes to their positions in NIC. EverSource Wealth Advisors LLC boosted its position in shares of Nicolet Bankshares by 3,940.0% during the second quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock worth $25,000 after acquiring an additional 197 shares during the last quarter. Jones Financial Companies Lllp bought a new position in shares of Nicolet Bankshares during the 3rd quarter valued at about $43,000. Clearstead Advisors LLC increased its holdings in shares of Nicolet Bankshares by 192.9% in the fourth quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock worth $55,000 after purchasing an additional 297 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Nicolet Bankshares by 45.1% in the third quarter. Parkside Financial Bank & Trust now owns 589 shares of the company’s stock worth $79,000 after buying an additional 183 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new position in Nicolet Bankshares during the third quarter valued at approximately $80,000. 43.06% of the stock is currently owned by hedge funds and other institutional investors.

About Nicolet Bankshares

(Get Free Report)

Nicolet Bankshares, Inc is a bank holding company headquartered in Green Bay, Wisconsin. Through its subsidiary, Nicolet National Bank, it provides a range of commercial and consumer banking services to businesses, individuals and nonprofit organizations across northeastern Wisconsin and the Upper Peninsula of Michigan. The company’s branch network, digital banking platform and commercial lending centers support its focus on community banking and regional growth.

The company offers deposit products such as checking, savings and money market accounts, alongside consumer and commercial lending solutions.

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