Nicolet Bankshares (NYSE:NIC) PT lowered to $85.00 at Piper Sandler

Nicolet Bankshares (NYSE: NIC – Get a rating) saw its target price lowered by Piper Sandler analysts to $85.00 in a research report released Thursday, Target Stock Advisor reports. Piper Sandler’s price target indicates a potential upside of 17.26% from the stock’s previous close.

Shares of Nicolet Bank are trading down 1.3%

NYSE NIC shares traded down $0.96 during Thursday’s midday session, hitting $72.49. The company had a trading volume of 990 shares, compared to its average volume of 24,484. Nicolet Bankshares has a 52-week low of $69.46 and a 52-week high of $98.20. The stock has a market capitalization of $972.09 million, a PE ratio of 13.40 and a beta of 0.72. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt ratio of 0.23. The stock has a 50-day simple moving average of $78.46.

Nicolet Bankshares (NYSE: NIC – Get a rating) last released its results on Tuesday, July 19. The company reported earnings per share of $1.67 for the quarter, beating the consensus estimate of $1.63 by $0.04. The company posted revenue of $69.22 million in the quarter, versus a consensus estimate of $69.70 million. Nicolet Bankshares had a return on equity of 9.82% and a net margin of 26.38%. On average, stock analysts expect Nicolet Bankshares to post an EPS of 7.2 for the current year.

Insider activity

In other Nicolet Bankshares news, Director John Nicholas Dykema purchased 9,586 shares of the company in a deal that took place on Friday July 22. The stock was purchased at an average price of $78.99 per share, for a total transaction of $757,198.14. Following the purchase, the director now directly owns 40,097 shares of the company, valued at $3,167,262.03. The acquisition was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website. Separately, director Christopher J. Ghidorzi purchased 625 shares of the company in a transaction dated Friday, August 26. The stock was acquired at an average price of $79.18 per share, for a total transaction of $49,487.50. Following the completion of the purchase, the director now directly owns 6,423 shares of the company, valued at $508,573.14. The purchase was disclosed in a filing with the SEC, accessible via this link. Additionally, director John Nicholas Dykema acquired 9,586 shares in a transaction that took place on Friday, July 22. The stock was purchased at an average price of $78.99 per share, for a total transaction of $757,198.14. Following completion of the transaction, the administrator now owns 40,097 shares of the company, valued at $3,167,262.03. Disclosure of this purchase can be found here. Insiders acquired 10,451 shares of the company valued at $827,011 over the past ninety days. 13.40% of the shares are currently held by insiders of the company.

Nicolet Bankshares Company Profile

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Nicolet Bankshares, Inc operates as a bank holding company for Nicolet National Bank which provides corporate and personal banking products and services. The company accepts checking, savings and money market accounts; various certificates of deposit; and individual retirement accounts. It also offers commercial loans, including commercial, industrial and commercial loans and lines of credit; commercial real estate loans; agricultural production (AG) and real estate loans AG; commercial real estate investment property loans; construction and land development loans; residential real estate loans, such as first and junior residential mortgages, home equity loans, lines of credit and home construction loans; and consumer loans.

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