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

Nicolet Bankshares, Inc. (NYSE:NIC)’s stock price 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 Ratings Changes

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

Nicolet Bankshares Trading Up 0.4 %

The stock has a market capitalization of $1.81 billion, a P/E ratio of 14.85 and a beta of 0.77. The firm’s 50 day moving average price is $109.68 and its 200 day moving average price is $103.59. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.96.

Nicolet Bankshares (NYSE:NIC) last released its quarterly earnings results on Tuesday, January 21st. The company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.23. Nicolet Bankshares had a net margin of 23.83% and a return on equity of 10.95%. As a group, equities research analysts expect that Nicolet Bankshares, Inc. will post 8.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 3,975 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $118.08, for a total transaction of $469,368.00. Following the completion of the transaction, the director now owns 30,317 shares of the company’s stock, valued at approximately $3,579,831.36. This trade represents a 11.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan L. Merkatoris sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $111.27, for a total transaction of $111,270.00. Following the transaction, the director now directly owns 82,218 shares of the company’s stock, valued at $9,148,396.86. This represents a 1.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,479 shares of company stock valued at $3,691,306 over the last three months. Corporate insiders own 16.40% of the company’s stock.

Institutional Investors Weigh In On Nicolet Bankshares

Institutional investors have recently made changes to their positions in the company. Sterling Capital Management LLC grew its holdings in shares of Nicolet Bankshares by 748.7% during the fourth quarter. Sterling Capital Management LLC now owns 331 shares of the company’s stock valued at $35,000 after buying an additional 292 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Nicolet Bankshares during the fourth quarter valued at approximately $61,000. New York State Teachers Retirement System purchased a new stake in shares of Nicolet Bankshares during the fourth quarter valued at approximately $128,000. Summit Investment Advisors Inc. grew its holdings in shares of Nicolet Bankshares by 11.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,410 shares of the company’s stock valued at $148,000 after buying an additional 140 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Nicolet Bankshares during the third quarter valued at approximately $155,000. Hedge funds and other institutional investors 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.