Stephens Trims Nicolet Bankshares (NYSE:NIC) Target Price to $88.00

Nicolet Bankshares (NYSE:NIC) had its target price decreased by Stephens from $92.00 to $88.00 in a research report report published on Thursday morning, Benzinga reports. Stephens currently has an equal weight rating on the stock.

NIC has been the topic of a number of other reports. TheStreet upgraded shares of Nicolet Bankshares from a c+ rating to a b rating in a report on Wednesday, January 17th. Piper Sandler decreased their target price on shares of Nicolet Bankshares from $88.00 to $82.50 and set a neutral rating for the company in a research note on Wednesday. Hovde Group raised shares of Nicolet Bankshares from a market perform rating to an outperform rating in a research note on Monday, March 4th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Nicolet Bankshares from $85.00 to $86.00 and gave the company a market perform rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Nicolet Bankshares presently has a consensus rating of Hold and an average target price of $87.88.

Nicolet Bankshares Stock Performance

Shares of NIC stock opened at $79.90 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $1.19 billion, a P/E ratio of 12.31 and a beta of 0.74. The company’s 50 day moving average price is $80.62 and its two-hundred day moving average price is $77.80. Nicolet Bankshares has a 52 week low of $51.76 and a 52 week high of $86.86.

Nicolet Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 8th were paid a $0.25 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.00 annualized dividend and a dividend yield of 1.25%. Nicolet Bankshares’s dividend payout ratio is presently 15.41%.

Insider Activity at Nicolet Bankshares

In other Nicolet Bankshares news, EVP Eric James Witczak sold 2,053 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $82.45, for a total value of $169,269.85. Following 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 is available through the SEC website. In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 2,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $81.93, for a total value of $163,860.00. Following the transaction, the director now directly owns 42,889 shares in the company, valued at $3,513,895.77. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Eric James Witczak sold 2,053 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 41,427 shares in the company, valued at $3,415,656.15. The disclosure for this sale can be found here. 16.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nicolet Bankshares

Institutional investors and hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN acquired a new position in shares of Nicolet Bankshares in the fourth quarter valued at about $35,000. Citigroup Inc. acquired a new position in shares of Nicolet Bankshares in the fourth quarter valued at about $35,000. Metropolitan Life Insurance Co NY acquired a new position in shares of Nicolet Bankshares in the fourth quarter valued at about $58,000. Tower Research Capital LLC TRC grew its stake in shares of Nicolet Bankshares by 92.8% in the second quarter. Tower Research Capital LLC TRC now owns 912 shares of the company’s stock valued at $62,000 after acquiring an additional 439 shares in the last quarter. Finally, Harbour Investments Inc. grew its stake in shares of Nicolet Bankshares by 14.7% in the fourth quarter. Harbour Investments Inc. now owns 1,569 shares of the company’s stock valued at $126,000 after acquiring an additional 201 shares in the last quarter. 43.06% of the stock is currently owned by institutional investors and hedge funds.

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.