Nicolet Bankshares (NYSE:NIC) Given New $124.00 Price Target at Maxim Group

Nicolet Bankshares (NYSE:NIC) had its target price increased by research analysts at Maxim Group from $120.00 to $124.00 in a research report issued to clients and investors on Thursday, Briefing.com reports. The firm presently has a “buy” rating on the stock. Maxim Group’s price target points to a potential upside of 18.65% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Piper Sandler upped their price objective on Nicolet Bankshares from $86.00 to $104.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 17th. Stephens upped their price objective on Nicolet Bankshares from $90.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Nicolet Bankshares currently has a consensus rating of “Hold” and an average price target of $106.00.

Nicolet Bankshares Price Performance

Shares of NIC opened at $104.51 on Thursday. The firm has a market cap of $1.56 billion, a PE ratio of 16.10 and a beta of 0.76. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.15. The firm has a fifty day simple moving average of $94.51 and a two-hundred day simple moving average of $87.37. Nicolet Bankshares has a 1-year low of $63.58 and a 1-year high of $104.60.

Nicolet Bankshares (NYSE:NIC) last announced its earnings results on Tuesday, July 16th. The company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.18. The business had revenue of $85.43 million during the quarter, compared to analyst estimates of $81.40 million. Nicolet Bankshares had a net margin of 21.13% and a return on equity of 10.20%. On average, equities analysts anticipate that Nicolet Bankshares will post 7.3 EPS for the current year.

Insiders Place Their Bets

In other Nicolet Bankshares news, EVP Brad Vincent Hutjens sold 10,000 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $99.00, for a total value of $990,000.00. Following the completion of the sale, the executive vice president now owns 26,642 shares in the company, valued at approximately $2,637,558. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Nicolet Bankshares news, EVP Brad Vincent Hutjens sold 10,000 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $99.00, for a total transaction of $990,000.00. Following the completion of the transaction, the executive vice president now owns 26,642 shares of the company’s stock, valued at $2,637,558. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael E. Daniels sold 8,003 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $98.98, for a total transaction of $792,136.94. Following the transaction, the chief executive officer now directly owns 72,402 shares of the company’s stock, valued at $7,166,349.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,003 shares of company stock worth $3,727,087. Corporate insiders own 16.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rothschild Investment LLC bought a new position in shares of Nicolet Bankshares in the 2nd quarter valued at about $67,000. EntryPoint Capital LLC lifted its holdings in shares of Nicolet Bankshares by 97.3% in the 1st quarter. EntryPoint Capital LLC now owns 1,101 shares of the company’s stock valued at $95,000 after acquiring an additional 543 shares during the last quarter. Blair William & Co. IL bought a new position in shares of Nicolet Bankshares in the 1st quarter valued at about $201,000. ProShare Advisors LLC bought a new position in shares of Nicolet Bankshares in the 1st quarter valued at about $203,000. Finally, SG Americas Securities LLC bought a new position in shares of Nicolet Bankshares in the 3rd quarter valued at about $412,000. 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.