Nicolet Bankshares (NYSE:NIC) Shares Gap Down Following Analyst Downgrade

Nicolet Bankshares, Inc. (NYSE:NIC)’s share price gapped down prior to trading on Wednesday after Piper Sandler lowered their price target on the stock from $88.00 to $82.50. The stock had previously closed at $77.71, but opened at $75.39. Piper Sandler currently has a neutral rating on the stock. Nicolet Bankshares shares last traded at $75.71, with a volume of 25,683 shares trading hands.

Other equities analysts have also issued reports about the stock. Stephens reiterated an “equal weight” rating and issued a $92.00 price target on shares of Nicolet Bankshares in a research note on Wednesday. Hovde Group upgraded shares of Nicolet Bankshares from a “market perform” rating to an “outperform” rating in a research report on Monday, March 4th. TheStreet upgraded shares of Nicolet Bankshares from a “c+” rating to a “b” rating in a research report on Wednesday, January 17th. Finally, Keefe, Bruyette & Woods raised their target price 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 assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $88.63.

Insider Transactions at Nicolet Bankshares

In related news, Director Robert Bruce Atwell sold 2,000 shares of Nicolet Bankshares stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $81.93, for a total value of $163,860.00. Following the transaction, the director now directly owns 42,889 shares in the company, valued at approximately $3,513,895.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Robert Bruce Atwell sold 2,000 shares of Nicolet Bankshares stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $81.93, for a total value of $163,860.00. Following the transaction, the director now directly owns 42,889 shares in the company, valued at approximately $3,513,895.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Eric James Witczak sold 2,053 shares of Nicolet Bankshares stock in a transaction on 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 owns 41,427 shares in the company, valued at $3,415,656.15. 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

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in Nicolet Bankshares by 3.3% in the second quarter. BlackRock Inc. now owns 963,503 shares of the company’s stock valued at $65,431,000 after acquiring an additional 31,229 shares during the period. Vanguard Group Inc. lifted its holdings in Nicolet Bankshares by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 697,725 shares of the company’s stock valued at $56,153,000 after acquiring an additional 17,539 shares during the period. FMR LLC lifted its holdings in Nicolet Bankshares by 54.2% in the third 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 during the period. Dimensional Fund Advisors LP lifted its holdings in Nicolet Bankshares by 3.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 542,091 shares of the company’s stock valued at $43,629,000 after acquiring an additional 20,299 shares during the period. Finally, State Street Corp lifted its holdings in Nicolet Bankshares by 4.3% in the second quarter. State Street Corp now owns 336,251 shares of the company’s stock valued at $22,835,000 after acquiring an additional 13,838 shares during the period. 43.06% of the stock is currently owned by hedge funds and other institutional investors.

Nicolet Bankshares Trading Down 2.0 %

The company has a market cap of $1.13 billion, a price-to-earnings ratio of 18.53 and a beta of 0.74. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $80.50 and a 200 day simple moving average of $77.68.

Nicolet Bankshares (NYSE:NIC) last released its quarterly earnings results on Tuesday, January 16th. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.12. The business had revenue of $89.20 million during the quarter, compared to the consensus estimate of $78.30 million. Nicolet Bankshares had a return on equity of 9.71% and a net margin of 14.69%. On average, equities analysts anticipate that Nicolet Bankshares, Inc. will post 6.93 EPS for the current fiscal year.

Nicolet Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 8th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend was Thursday, March 7th. Nicolet Bankshares’s dividend payout ratio (DPR) is presently 24.63%.

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.