Nicolet Bankshares (NASDAQ:NCBS) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Nicolet Bankshares (NASDAQ:NCBS) from a hold rating to a buy rating in a research note issued to investors on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $70.00 price target on the bank’s stock.

According to Zacks, “Nicolet Bankshares Inc. is a bank holding company for Nicolet National Bank. The company provides commercial and retail banking services for businesses and individuals primarily in northeast and central Wisconsin and the upper peninsula of Michigan. Nicolet Bankshares Inc. is headquartered in Green Bay, Wisconsin. “

A number of other equities research analysts have also recently commented on the company. Maxim Group lifted their price objective on Nicolet Bankshares to $66.00 and gave the stock a buy rating in a research note on Thursday, April 18th. BidaskClub cut Weyco Group from a sell rating to a strong sell rating in a research note on Saturday, July 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Nicolet Bankshares currently has a consensus rating of Hold and a consensus price target of $67.00.

Shares of Nicolet Bankshares stock opened at $63.25 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.19. Nicolet Bankshares has a 12 month low of $46.02 and a 12 month high of $63.99. The business’s fifty day moving average is $61.72. The firm has a market capitalization of $598.48 million, a PE ratio of 15.35, a PEG ratio of 1.99 and a beta of 0.83.

Nicolet Bankshares (NASDAQ:NCBS) last announced its quarterly earnings data on Tuesday, July 16th. The bank reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.27. Nicolet Bankshares had a return on equity of 11.63% and a net margin of 28.06%. The business had revenue of $47.50 million during the quarter, compared to analysts’ expectations of $37.90 million. As a group, research analysts predict that Nicolet Bankshares will post 4.55 earnings per share for the current fiscal year.

In other Nicolet Bankshares news, Chairman Robert Bruce Atwell sold 6,810 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $61.32, for a total value of $417,589.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas L. Herlache sold 820 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $61.12, for a total value of $50,118.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,485 shares of company stock valued at $2,046,587. 17.40% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of NCBS. Legal & General Group Plc grew its stake in Nicolet Bankshares by 28.7% in the fourth quarter. Legal & General Group Plc now owns 1,642 shares of the bank’s stock valued at $80,000 after acquiring an additional 366 shares during the period. Meeder Asset Management Inc. grew its stake in Nicolet Bankshares by 34.6% in the first quarter. Meeder Asset Management Inc. now owns 1,487 shares of the bank’s stock valued at $89,000 after acquiring an additional 382 shares during the period. BNP Paribas Arbitrage SA grew its stake in Nicolet Bankshares by 413.5% in the first quarter. BNP Paribas Arbitrage SA now owns 1,633 shares of the bank’s stock valued at $97,000 after acquiring an additional 1,315 shares during the period. SG Americas Securities LLC acquired a new position in Nicolet Bankshares in the first quarter valued at about $121,000. Finally, Metropolitan Life Insurance Co. NY grew its stake in Nicolet Bankshares by 320.2% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 2,887 shares of the bank’s stock valued at $141,000 after acquiring an additional 2,200 shares during the period. 36.14% of the stock is owned by hedge funds and other institutional investors.

Nicolet Bankshares Company Profile

Nicolet Bankshares, Inc operates as the holding company for Nicolet National Bank that provides commercial and retail banking services for businesses and individuals. The company accepts checking, savings, and money market accounts; various certificates of deposit; and individual retirement accounts.

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