Nicolet Bankshares (NASDAQ:NCBS) Upgraded to Hold at BidaskClub

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

A number of other analysts have also recently commented on the company. ValuEngine cut Nicolet Bankshares from a hold rating to a sell rating in a research note on Thursday, August 1st. Zacks Investment Research raised Nicolet Bankshares from a hold rating to a buy rating and set a $71.00 price target for the company in a research note on Thursday, July 25th. Finally, Maxim Group reaffirmed a buy rating and issued a $71.00 price target on shares of Nicolet Bankshares in a research note on Thursday, July 18th.

Shares of NCBS stock opened at $63.50 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market cap of $593.47 million, a PE ratio of 15.41, a price-to-earnings-growth ratio of 1.74 and a beta of 0.83. The stock has a 50-day moving average of $63.61 and a 200-day moving average of $60.28. Nicolet Bankshares has a one year low of $46.02 and a one year high of $67.06.

Nicolet Bankshares (NASDAQ:NCBS) last announced its quarterly earnings results on Tuesday, July 16th. The bank reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.27. The company had revenue of $47.50 million during the quarter, compared to analysts’ expectations of $37.90 million. Nicolet Bankshares had a return on equity of 11.45% and a net margin of 28.06%. As a group, research analysts anticipate that Nicolet Bankshares will post 5.24 earnings per share for the current year.

In related news, EVP Eric James Witczak sold 3,712 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $66.37, for a total transaction of $246,365.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael Joseph Vogel sold 1,500 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $63.31, for a total value of $94,965.00. The disclosure for this sale can be found here. Corporate insiders own 17.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. increased its stake in Nicolet Bankshares by 13.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 1,690 shares of the bank’s stock worth $105,000 after purchasing an additional 203 shares in the last quarter. Swiss National Bank increased its stake in Nicolet Bankshares by 1.9% during the 2nd quarter. Swiss National Bank now owns 15,900 shares of the bank’s stock worth $987,000 after purchasing an additional 300 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Nicolet Bankshares by 17.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,251 shares of the bank’s stock worth $140,000 after purchasing an additional 340 shares in the last quarter. Legal & General Group Plc increased its stake in Nicolet Bankshares by 28.7% during the 4th quarter. Legal & General Group Plc now owns 1,642 shares of the bank’s stock worth $80,000 after purchasing an additional 366 shares in the last quarter. Finally, Tower Research Capital LLC TRC bought a new stake in Nicolet Bankshares during the 2nd quarter worth approximately $28,000. 36.29% of the stock is owned by institutional investors and hedge funds.

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.

Read More: What is Cost of Goods Sold (COGS)?

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