Nicolet Bankshares Inc. (NCBS) Price Target Raised to $65.00
Nicolet Bankshares Inc. (NASDAQ:NCBS) had its target price raised by stock analysts at Maxim Group from $59.00 to $65.00 in a report released on Thursday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the bank’s stock. Maxim Group’s price objective would suggest a potential upside of 10.56% from the company’s previous close.
Nicolet Bankshares (NCBS) traded up 0.36% on Thursday, hitting $58.79. 19,892 shares of the stock were exchanged. The company has a market cap of $576.08 million, a PE ratio of 19.66 and a beta of 1.83. The company’s 50-day moving average is $57.94 and its 200-day moving average is $53.35. Nicolet Bankshares has a 52 week low of $37.86 and a 52 week high of $61.98.
Nicolet Bankshares (NASDAQ:NCBS) last announced its quarterly earnings data on Tuesday, October 17th. The bank reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.10. Nicolet Bankshares had a return on equity of 9.88% and a net margin of 22.63%. The firm had revenue of $35.25 million during the quarter. On average, analysts predict that Nicolet Bankshares will post $3.22 earnings per share for the current year.
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In other Nicolet Bankshares news, Chairman Robert Bruce Atwell sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $53.52, for a total transaction of $267,600.00. Following the completion of the sale, the chairman now directly owns 47,969 shares in the company, valued at approximately $2,567,300.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 13.90% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Legal & General Group Plc raised its stake in shares of Nicolet Bankshares by 10.1% during the 2nd quarter. Legal & General Group Plc now owns 2,321 shares of the bank’s stock worth $127,000 after purchasing an additional 212 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Nicolet Bankshares during the 2nd quarter worth about $170,000. Bessemer Group Inc. purchased a new stake in shares of Nicolet Bankshares during the 2nd quarter worth about $241,000. Spark Investment Management LLC purchased a new stake in shares of Nicolet Bankshares during the 2nd quarter worth about $273,000. Finally, Nationwide Fund Advisors raised its stake in shares of Nicolet Bankshares by 12.6% during the 2nd quarter. Nationwide Fund Advisors now owns 5,035 shares of the bank’s stock worth $275,000 after purchasing an additional 563 shares in the last quarter. 35.28% of the stock is owned by institutional investors.
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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