Nicolet Bankshares (NCBS) Upgraded by BidaskClub to Hold

Nicolet Bankshares (NASDAQ:NCBS) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, BidAskClub reports.

NCBS has been the subject of a number of other reports. Maxim Group lifted their price objective on Nicolet Bankshares to $66.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Zacks Investment Research upgraded Nicolet Bankshares from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Nicolet Bankshares has an average rating of “Hold” and a consensus target price of $64.00.

NCBS stock traded up $0.32 during midday trading on Monday, reaching $61.32. The stock had a trading volume of 14,934 shares, compared to its average volume of 20,051. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.19. The firm has a market cap of $577.19 million, a price-to-earnings ratio of 14.88, a PEG ratio of 1.92 and a beta of 0.84. Nicolet Bankshares has a twelve month low of $46.02 and a twelve month high of $63.37.

Nicolet Bankshares (NASDAQ:NCBS) last announced its quarterly earnings data on Tuesday, April 16th. The bank reported $1.05 EPS for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.04. The firm had revenue of $36.66 million during the quarter, compared to analyst estimates of $36.10 million. Nicolet Bankshares had a return on equity of 10.86% and a net margin of 24.87%. Sell-side analysts predict that Nicolet Bankshares will post 4.55 earnings per share for the current fiscal year.

In other Nicolet Bankshares news, Director Thomas L. Herlache sold 820 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $61.12, for a total transaction of $50,118.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Eric James Witczak sold 1,680 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $62.11, for a total value of $104,344.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,675 shares of company stock valued at $1,628,998. Corporate insiders own 17.40% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of NCBS. Legal & General Group Plc boosted its holdings in Nicolet Bankshares by 28.7% during the fourth quarter. Legal & General Group Plc now owns 1,642 shares of the bank’s stock worth $80,000 after buying an additional 366 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in Nicolet Bankshares by 34.6% during the first quarter. Meeder Asset Management Inc. now owns 1,487 shares of the bank’s stock worth $89,000 after buying an additional 382 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Nicolet Bankshares by 413.5% during the first quarter. BNP Paribas Arbitrage SA now owns 1,633 shares of the bank’s stock worth $97,000 after buying an additional 1,315 shares during the last quarter. SG Americas Securities LLC bought a new position in Nicolet Bankshares during the first quarter worth about $121,000. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in Nicolet Bankshares by 320.2% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 2,887 shares of the bank’s stock worth $141,000 after buying an additional 2,200 shares during the last quarter. Hedge funds and other institutional investors own 35.86% 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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