Nicolet Bankshares (NYSE:NIC) Hits New 12-Month High – Here’s Why

Shares of Nicolet Bankshares, Inc. (NYSE:NIC) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $120.26 and last traded at $119.00, with a volume of 41959 shares traded. The stock had previously closed at $119.18.

Analyst Upgrades and Downgrades

NIC has been the topic of several research reports. Piper Sandler raised their target price on shares of Nicolet Bankshares from $119.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods lifted their price target on shares of Nicolet Bankshares from $110.00 to $115.00 and gave the stock a “market perform” rating in a research note on Thursday, January 23rd. Finally, Maxim Group lifted their price target on shares of Nicolet Bankshares from $124.00 to $131.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Nicolet Bankshares has an average rating of “Hold” and an average target price of $119.00.

Nicolet Bankshares Stock Up 0.4 %

The company’s 50 day moving average price is $109.68 and its two-hundred day moving average price is $103.59. The firm has a market cap of $1.81 billion, a PE ratio of 14.85 and a beta of 0.77. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.14.

Nicolet Bankshares (NYSE:NIC) last announced its quarterly earnings data on Tuesday, January 21st. The company reported $2.17 EPS for the quarter, beating the consensus estimate of $1.94 by $0.23. Nicolet Bankshares had a net margin of 23.83% and a return on equity of 10.95%. On average, equities research analysts expect that Nicolet Bankshares, Inc. will post 8.18 EPS for the current fiscal year.

Insider Activity

In other Nicolet Bankshares news, Director Susan L. Merkatoris sold 1,000 shares of Nicolet Bankshares stock in a transaction on Monday, January 27th. The shares were sold at an average price of $111.27, for a total value of $111,270.00. Following the sale, the director now directly owns 82,218 shares in the company, valued at approximately $9,148,396.86. The trade was a 1.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Brad Vincent Hutjens sold 1,516 shares of Nicolet Bankshares stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $112.85, for a total transaction of $171,080.60. Following the completion of the sale, the executive vice president now owns 29,593 shares in the company, valued at approximately $3,339,570.05. This represents a 4.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,479 shares of company stock worth $3,691,306 in the last three months. Company insiders own 16.40% of the company’s stock.

Institutional Trading of Nicolet Bankshares

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its stake in shares of Nicolet Bankshares by 3.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 641,740 shares of the company’s stock worth $67,325,000 after buying an additional 21,819 shares in the last quarter. FMR LLC grew its stake in shares of Nicolet Bankshares by 0.5% in the 3rd quarter. FMR LLC now owns 589,766 shares of the company’s stock worth $56,399,000 after buying an additional 2,654 shares in the last quarter. State Street Corp grew its stake in shares of Nicolet Bankshares by 3.7% in the 3rd quarter. State Street Corp now owns 381,755 shares of the company’s stock worth $36,507,000 after buying an additional 13,772 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Nicolet Bankshares by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 303,391 shares of the company’s stock worth $29,019,000 after buying an additional 4,911 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Nicolet Bankshares by 5.1% in the 4th quarter. Janus Henderson Group PLC now owns 180,218 shares of the company’s stock worth $18,907,000 after buying an additional 8,698 shares in the last quarter. 43.06% of the stock is currently owned by 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.