Nicolet Bankshares (NASDAQ:NCBS) Upgraded at BidaskClub

BidaskClub upgraded shares of Nicolet Bankshares (NASDAQ:NCBS) from a sell rating to a hold rating in a research note released on Friday morning, BidAskClub reports.

A number of other equities research analysts have also recently commented on NCBS. ValuEngine cut shares of Nicolet Bankshares from a hold rating to a sell rating in a report on Thursday. Maxim Group restated a buy rating and issued a $71.00 price target on shares of Nicolet Bankshares in a report on Thursday, July 18th. Finally, Zacks Investment Research upgraded shares of Nicolet Bankshares from a hold rating to a buy rating and set a $71.00 price target for the company in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $67.33.

NASDAQ:NCBS traded down $0.70 during trading hours on Friday, reaching $63.91. The company had a trading volume of 19,199 shares, compared to its average volume of 33,370. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $604.59 million, a price-to-earnings ratio of 15.51, a price-to-earnings-growth ratio of 1.79 and a beta of 0.83. The stock has a 50-day moving average price of $63.05. Nicolet Bankshares has a twelve month low of $46.02 and a twelve month high of $67.06.

Nicolet Bankshares (NASDAQ:NCBS) last posted its quarterly earnings results on Tuesday, July 16th. The bank reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.27. The business had revenue of $47.50 million during the quarter, compared to analysts’ expectations of $37.90 million. Nicolet Bankshares had a net margin of 28.06% and a return on equity of 11.63%. As a group, equities analysts predict that Nicolet Bankshares will post 5.24 EPS for the current year.

In other news, Chairman Robert Bruce Atwell sold 6,810 shares of Nicolet Bankshares stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $61.32, for a total transaction of $417,589.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Eric James Witczak sold 3,712 shares of Nicolet Bankshares stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $66.37, for a total transaction of $246,365.44. The disclosure for this sale can be found here. Insiders sold 35,197 shares of company stock valued at $2,172,595 over the last 90 days. Corporate insiders own 17.40% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of NCBS. BlackRock Inc. grew its holdings in shares of Nicolet Bankshares by 2.4% during the fourth quarter. BlackRock Inc. now owns 469,498 shares of the bank’s stock valued at $22,912,000 after buying an additional 10,979 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Nicolet Bankshares by 29.0% during the fourth quarter. Bank of New York Mellon Corp now owns 45,073 shares of the bank’s stock valued at $2,200,000 after buying an additional 10,128 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Nicolet Bankshares by 0.9% during the fourth quarter. Northern Trust Corp now owns 96,491 shares of the bank’s stock valued at $4,709,000 after buying an additional 871 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Nicolet Bankshares by 9.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 165,079 shares of the bank’s stock valued at $8,056,000 after buying an additional 14,104 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Nicolet Bankshares by 7.8% during the fourth quarter. Geode Capital Management LLC now owns 77,653 shares of the bank’s stock valued at $3,789,000 after buying an additional 5,596 shares during the last quarter. Hedge funds and other institutional investors own 36.16% of the company’s stock.

About Nicolet Bankshares

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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