Nicolet Bankshares (NYSE:NIC) Reaches New 1-Year High – Time to Buy?

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NIC. Keefe, Bruyette & Woods boosted their price target on Nicolet Bankshares from $110.00 to $115.00 and gave the stock a “market perform” rating in a report on Thursday, January 23rd. Piper Sandler boosted 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. Finally, Maxim Group raised their target price on shares of Nicolet Bankshares from $124.00 to $131.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $119.00.

Nicolet Bankshares Stock Down 0.1 %

The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $1.80 billion, a PE ratio of 14.75 and a beta of 0.77. The company has a fifty day moving average price of $109.47 and a 200-day moving average price of $103.31.

Nicolet Bankshares (NYSE:NIC) last announced its earnings results on Tuesday, January 21st. The company reported $2.17 earnings per share (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%. As a group, analysts expect that Nicolet Bankshares, Inc. will post 8.18 earnings per share for the current year.

Insider Activity at Nicolet Bankshares

In related news, Director Robert Bruce Atwell sold 3,446 shares of Nicolet Bankshares stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $113.00, for a total transaction of $389,398.00. Following the completion of the transaction, the director now directly owns 32,831 shares of the company’s stock, valued at approximately $3,709,903. The trade was a 9.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan L. Merkatoris sold 1,000 shares of the company’s stock in a transaction dated 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 owns 82,218 shares in the company, valued at $9,148,396.86. The trade was a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,479 shares of company stock worth $3,691,306. Company insiders own 16.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its stake in shares of Nicolet Bankshares by 132.8% during the 4th quarter. JPMorgan Chase & Co. now owns 76,385 shares of the company’s stock worth $8,014,000 after acquiring an additional 43,567 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Nicolet Bankshares during the fourth quarter worth $2,474,000. Dimensional Fund Advisors LP boosted its stake in shares of Nicolet Bankshares by 3.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 641,740 shares of the company’s stock valued at $67,325,000 after purchasing an additional 21,819 shares during the period. Martingale Asset Management L P bought a new position in shares of Nicolet Bankshares in the fourth quarter worth about $1,898,000. Finally, Teacher Retirement System of Texas increased its stake in Nicolet Bankshares by 284.8% in the 4th quarter. Teacher Retirement System of Texas now owns 22,035 shares of the company’s stock worth $2,312,000 after buying an additional 16,308 shares during the period. Hedge funds and other institutional investors own 43.06% of the company’s stock.

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.