Nicolet Bankshares hits record high after Q2 earnings beat

Nicolet Bankshares

17/07/2024 16:56

** Shares of Nicolet Bankshares  NIC.N  rise 7.4% to $99.78,
hitting record high in day trading
    ** Company reported on Tuesday Q2 adj. earnings of $1.92​​
per share, beating analysts' avg. est. of $1.66 per share - LSEG
data
    ** Posted 10.7% rise in Q2 revenue of $65.34 mln, compared
with analysts' avg. est. of $62.33 mln
    ** Piper Sandler raises PT on stock to $104 from $86
    ** Brokerage raises NIC's FY24-end EPS forecast by 7% to
$7.30 on higher net interest income expectations
    ** Notes NIC's ability to pull "share to generate attractive
organic growth, benign credit outlook, and building capital
flexibility to eventually re-engage in successful M&A" 
    ** Including session's moves, NIC stock up 21.8% YTD 

 (Reporting by Nikhil Sharma in Bengaluru)
 ((nikhil.sharma@thomsonreuters.com))