Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Nicolet Bankshares (NYSE:NIC) Stock

Nicolet Bankshares (NYSE:NIC) had its price objective raised by analysts at Keefe, Bruyette & Woods from $110.00 to $115.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 5.06% from the company’s current price.

A number of other equities research analysts have also commented on the stock. Maxim Group raised their price objective on shares of Nicolet Bankshares from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Piper Sandler increased their target price on Nicolet Bankshares from $119.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $119.00.

Nicolet Bankshares Price Performance

Shares of NIC stock opened at $109.47 on Thursday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. Nicolet Bankshares has a 12-month low of $73.00 and a 12-month high of $116.17. The firm has a fifty day moving average of $108.30 and a 200-day moving average of $100.85. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 13.63 and a beta of 0.77.

Nicolet Bankshares (NYSE:NIC) last posted its earnings results on Tuesday, January 21st. The company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.23. Nicolet Bankshares had a return on equity of 10.95% and a net margin of 23.83%. On average, equities research analysts forecast that Nicolet Bankshares will post 8.1 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Brad Vincent Hutjens sold 6,000 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $115.30, for a total transaction of $691,800.00. Following the completion of the sale, the executive vice president now owns 26,674 shares of the company’s stock, valued at $3,075,512.20. This represents a 18.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert Bruce Atwell sold 7,609 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $113.00, for a total transaction of $859,817.00. Following the completion of the transaction, the director now directly owns 32,831 shares in the company, valued at approximately $3,709,903. This represents a 18.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 81,820 shares of company stock valued at $8,942,298. 16.40% of the stock is owned by company insiders.

Institutional Trading of Nicolet Bankshares

Several large investors have recently made changes to their positions in the company. Quantbot Technologies LP acquired a new position in Nicolet Bankshares during the third quarter valued at approximately $155,000. Virtu Financial LLC bought a new position in shares of Nicolet Bankshares in the 3rd quarter valued at $264,000. Quest Partners LLC raised its holdings in shares of Nicolet Bankshares by 858.0% during the 3rd quarter. Quest Partners LLC now owns 2,922 shares of the company’s stock worth $279,000 after buying an additional 2,617 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Nicolet Bankshares by 31.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,269 shares of the company’s stock worth $408,000 after buying an additional 1,010 shares during the last quarter. Finally, PDT Partners LLC acquired a new stake in Nicolet Bankshares in the third quarter valued at about $412,000. Institutional investors and hedge funds 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.