Nicolet Bankshares (NYSE:NIC) Given Equal Weight Rating at Stephens

Stephens reaffirmed their equal weight rating on shares of Nicolet Bankshares (NYSE:NIC) in a report issued on Wednesday, Benzinga reports. The firm currently has a $92.00 target price on the stock.

A number of other brokerages have also recently weighed in on NIC. TheStreet upgraded shares of Nicolet Bankshares from a c+ rating to a b rating in a research note on Wednesday, January 17th. Hovde Group upgraded shares of Nicolet Bankshares from a market perform rating to an outperform rating in a research report on Monday, March 4th. Piper Sandler restated a neutral rating and set a $84.00 price objective on shares of Nicolet Bankshares in a research report on Wednesday, January 10th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Nicolet Bankshares from $84.00 to $85.00 and gave the stock a market perform rating in a research report on Thursday, January 18th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $87.88.

Nicolet Bankshares Stock Up 3.8 %

Shares of NYSE:NIC opened at $79.90 on Wednesday. The stock has a market cap of $1.19 billion, a P/E ratio of 12.31 and a beta of 0.74. The firm has a fifty day moving average price of $80.62 and a 200 day moving average price of $77.74. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.95 and a quick ratio of 0.95. Nicolet Bankshares has a 1-year low of $51.76 and a 1-year high of $86.86.

Nicolet Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 8th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.00 dividend on an annualized basis and a yield of 1.25%. Nicolet Bankshares’s payout ratio is currently 15.41%.

Insider Activity

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

Hedge Funds Weigh In On Nicolet Bankshares

Several hedge funds have recently added to or reduced their stakes in NIC. Geode Capital Management LLC purchased a new position in Nicolet Bankshares during the 4th quarter valued at about $18,931,000. FMR LLC increased its holdings in Nicolet Bankshares by 54.2% during the 3rd quarter. FMR LLC now owns 556,958 shares of the company’s stock valued at $38,865,000 after acquiring an additional 195,707 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Nicolet Bankshares by 130.1% during the 2nd quarter. Alliancebernstein L.P. now owns 330,521 shares of the company’s stock worth $22,446,000 after purchasing an additional 186,872 shares during the last quarter. Charles Schwab Investment Management Inc. acquired a new stake in shares of Nicolet Bankshares during the 4th quarter worth about $7,746,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Nicolet Bankshares by 8.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 475,076 shares of the company’s stock worth $29,953,000 after purchasing an additional 38,925 shares during the last quarter. 43.06% of the stock is currently owned by hedge funds and other 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.