Nicolet Bankshares (NCBS) Downgraded by ValuEngine to Hold

Nicolet Bankshares (NASDAQ:NCBS) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Friday.

Separately, Maxim Group lifted their target price on shares of Nicolet Bankshares from $59.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, October 19th.

Shares of Nicolet Bankshares (NASDAQ NCBS) traded up $0.55 during trading on Friday, reaching $58.50. 22,702 shares of the company’s stock traded hands, compared to its average volume of 22,635. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $568.00, a PE ratio of 18.63 and a beta of 1.72. Nicolet Bankshares has a twelve month low of $43.25 and a twelve month high of $61.98.

Nicolet Bankshares (NASDAQ:NCBS) last issued its earnings results on Tuesday, October 17th. The bank reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.10. The business had revenue of $35.25 million during the quarter. Nicolet Bankshares had a net margin of 22.63% and a return on equity of 9.45%.

In other Nicolet Bankshares news, EVP Michael E. Daniels sold 24,239 shares of Nicolet Bankshares stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $56.43, for a total value of $1,367,806.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Robert Bruce Atwell sold 19,639 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $56.43, for a total transaction of $1,108,228.77. The disclosure for this sale can be found here. Insiders sold 46,164 shares of company stock valued at $2,608,624 over the last ninety days. Corporate insiders own 13.90% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Systematic Financial Management LP raised its holdings in shares of Nicolet Bankshares by 63.3% during the second quarter. Systematic Financial Management LP now owns 58,020 shares of the bank’s stock valued at $3,174,000 after purchasing an additional 22,485 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of Nicolet Bankshares by 54.7% during the second quarter. New York State Common Retirement Fund now owns 59,210 shares of the bank’s stock valued at $3,239,000 after purchasing an additional 20,944 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Nicolet Bankshares by 134.1% during the second quarter. Wells Fargo & Company MN now owns 25,906 shares of the bank’s stock valued at $1,418,000 after purchasing an additional 14,838 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Nicolet Bankshares by 24.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 25,816 shares of the bank’s stock valued at $1,413,000 after purchasing an additional 5,014 shares during the last quarter. Finally, North Star Asset Management Inc. purchased a new position in shares of Nicolet Bankshares during the second quarter valued at approximately $508,000. 35.36% of the stock is owned by hedge funds and other institutional investors.

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Nicolet Bankshares Company Profile

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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