Nicolet Bankshares (NASDAQ:NCBS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
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. “
Several other research analysts have also commented on NCBS. BidaskClub upgraded Nicolet Bankshares from a “strong sell” rating to a “sell” rating in a research report on Monday, February 5th. Maxim Group reiterated a “buy” rating and issued a $65.00 target price on shares of Nicolet Bankshares in a research report on Thursday, January 18th. Sandler O’Neill reiterated a “hold” rating and issued a $58.50 target price on shares of Nicolet Bankshares in a research report on Wednesday, January 3rd. ValuEngine lowered Nicolet Bankshares from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, DA Davidson began coverage on Nicolet Bankshares in a research report on Thursday, December 14th. They issued a “neutral” rating and a $61.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Nicolet Bankshares has a consensus rating of “Hold” and a consensus price target of $61.88.
Shares of Nicolet Bankshares (NCBS) traded down $0.99 on Wednesday, hitting $54.60. The stock had a trading volume of 24,900 shares, compared to its average volume of 20,703. The firm has a market cap of $544.87, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 2.34 and a beta of 1.28. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.08. Nicolet Bankshares has a one year low of $45.00 and a one year high of $61.98.
In related news, Director Michael J. Gilson sold 2,286 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $58.00, for a total transaction of $132,588.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Patrick Joseph Madson sold 1,027 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $57.65, for a total value of $59,206.55. The disclosure for this sale can be found here. 13.90% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc boosted its position in Nicolet Bankshares by 10.1% during the 2nd quarter. Legal & General Group Plc now owns 2,321 shares of the bank’s stock valued at $127,000 after purchasing an additional 212 shares during the period. California State Teachers Retirement System raised its stake in Nicolet Bankshares by 3.3% during the 2nd quarter. California State Teachers Retirement System now owns 15,823 shares of the bank’s stock valued at $866,000 after acquiring an additional 500 shares in the last quarter. Nationwide Fund Advisors raised its stake in Nicolet Bankshares by 12.6% during the 2nd quarter. Nationwide Fund Advisors now owns 5,035 shares of the bank’s stock valued at $275,000 after acquiring an additional 563 shares in the last quarter. Voya Investment Management LLC raised its stake in Nicolet Bankshares by 15.0% during the 2nd quarter. Voya Investment Management LLC now owns 5,021 shares of the bank’s stock valued at $275,000 after acquiring an additional 655 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in Nicolet Bankshares by 3.3% during the 4th quarter. Wells Fargo & Company MN now owns 36,495 shares of the bank’s stock valued at $1,998,000 after acquiring an additional 1,175 shares in the last quarter. Institutional investors and hedge funds own 35.59% of the company’s stock.
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About Nicolet Bankshares
Nicolet Bankshares, Inc is a bank holding company. The Company conducts operations through its subsidiary, Nicolet National Bank (the Bank), which is a commercial bank. The Company also owns investment advisory firms, Brookfield Investment Partners, LLC, which provides investment strategy and transactional services to select community banks, and Nicolet Advisory Services, LLC, which conducts brokerage and financial advisory services primarily to individual consumers.
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