Maxim Group Forecasts Strong Price Appreciation for Nicolet Bankshares (NYSE:NIC) Stock

Nicolet Bankshares (NYSE:NIC) had its target price lifted by investment analysts at Maxim Group from $124.00 to $131.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Maxim Group’s price target points to a potential upside of 18.06% from the company’s current price.

Several other equities analysts have also weighed in on NIC. Keefe, Bruyette & Woods lifted their target price on shares of Nicolet Bankshares from $110.00 to $115.00 and gave the company a “market perform” rating in a report on Thursday. Piper Sandler boosted their price objective on Nicolet Bankshares from $119.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Nicolet Bankshares has an average rating of “Hold” and a consensus price target of $119.00.

Nicolet Bankshares Trading Up 0.7 %

Shares of NYSE NIC traded up $0.74 during midday trading on Thursday, reaching $110.96. 7,659 shares of the stock were exchanged, compared to its average volume of 45,127. The stock has a 50 day moving average price of $108.36 and a 200-day moving average price of $100.79. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $1.69 billion, a P/E ratio of 13.82 and a beta of 0.77. Nicolet Bankshares has a 52-week low of $73.00 and a 52-week high of $116.17.

Nicolet Bankshares (NYSE:NIC) last issued its quarterly earnings results on Tuesday, January 21st. The company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.23. Nicolet Bankshares had a return on equity of 10.95% and a net margin of 23.83%. Equities research analysts expect that Nicolet Bankshares will post 7.82 earnings per share for the current fiscal year.

Insider Transactions at Nicolet Bankshares

In other news, Director Robert Bruce Atwell sold 2,721 shares of Nicolet Bankshares stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $103.00, for a total value of $280,263.00. Following the completion of the transaction, the director now directly owns 33,315 shares of the company’s stock, valued at approximately $3,431,445. The trade was a 7.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Brad Vincent Hutjens sold 1,079 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $102.85, for a total transaction of $110,975.15. Following the sale, the executive vice president now owns 26,674 shares in the company, valued at approximately $2,743,420.90. This trade represents a 3.89 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,899 shares of company stock valued at $9,053,273. Insiders own 16.40% of the company’s stock.

Hedge Funds Weigh In On Nicolet Bankshares

Institutional investors have recently made changes to their positions in the stock. Merit Financial Group LLC grew its position in shares of Nicolet Bankshares by 1.7% during the fourth quarter. Merit Financial Group LLC now owns 34,543 shares of the company’s stock worth $3,624,000 after acquiring an additional 592 shares during the last quarter. Creative Planning lifted its holdings in Nicolet Bankshares by 6.6% in the third quarter. Creative Planning now owns 12,484 shares of the company’s stock worth $1,194,000 after purchasing an additional 777 shares during the period. BNP Paribas Financial Markets increased its stake in Nicolet Bankshares by 31.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,269 shares of the company’s stock valued at $408,000 after buying an additional 1,010 shares during the period. Fisher Asset Management LLC raised its position in shares of Nicolet Bankshares by 7.9% during the 3rd quarter. Fisher Asset Management LLC now owns 14,978 shares of the company’s stock worth $1,432,000 after buying an additional 1,092 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Nicolet Bankshares in the 3rd quarter worth approximately $155,000. 43.06% of the stock is 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.