Sandler O’Neill Reaffirms Hold Rating for Nicolet Bankshares (NCBS)
Nicolet Bankshares (NASDAQ:NCBS)‘s stock had its “hold” rating reaffirmed by equities researchers at Sandler O’Neill in a report issued on Wednesday. They currently have a $58.50 price objective on the bank’s stock. Sandler O’Neill’s target price would indicate a potential upside of 9.74% from the stock’s previous close.
A number of other equities analysts have also recently weighed in on NCBS. Maxim Group upped their price target on Nicolet Bankshares from $59.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, October 19th. ValuEngine cut Nicolet Bankshares from a “buy” rating to a “hold” rating in a report on Friday, December 1st. BidaskClub cut Nicolet Bankshares from a “hold” rating to a “sell” rating in a research note on Thursday, December 14th. Finally, DA Davidson began coverage on Nicolet Bankshares in a research note on Thursday, December 14th. They set a “neutral” rating and a $61.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Nicolet Bankshares currently has a consensus rating of “Hold” and a consensus price target of $61.88.
Nicolet Bankshares (NASDAQ:NCBS) traded down $0.19 during midday trading on Wednesday, reaching $53.31. The company’s stock had a trading volume of 14,742 shares, compared to its average volume of 30,321. The stock has a market cap of $536.54, a PE ratio of 17.14, a PEG ratio of 2.38 and a beta of 1.76. Nicolet Bankshares has a 52-week low of $45.00 and a 52-week high of $61.98. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.89 and a current ratio of 0.89.
In other news, EVP Michael E. Daniels sold 24,239 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $56.43, for a total transaction of $1,367,806.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael J. Gilson sold 2,286 shares of the stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $58.00, for a total value of $132,588.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,191 shares of company stock valued at $2,667,830. Company insiders own 13.90% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Banc Funds Co. LLC raised its position in shares of Nicolet Bankshares by 41.3% during the 2nd quarter. Banc Funds Co. LLC now owns 372,262 shares of the bank’s stock valued at $20,366,000 after acquiring an additional 108,751 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Nicolet Bankshares by 52.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 124,648 shares of the bank’s stock valued at $6,820,000 after acquiring an additional 42,732 shares in the last quarter. Systematic Financial Management LP raised its position in shares of Nicolet Bankshares by 63.3% during the 2nd quarter. Systematic Financial Management LP now owns 58,020 shares of the bank’s stock valued at $3,174,000 after acquiring an additional 22,485 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Nicolet Bankshares by 8.5% during the 2nd quarter. Vanguard Group Inc. now owns 277,358 shares of the bank’s stock valued at $15,174,000 after acquiring an additional 21,826 shares in the last quarter. Finally, State Street Corp raised its position in shares of Nicolet Bankshares by 18.6% during the 2nd quarter. State Street Corp now owns 138,922 shares of the bank’s stock valued at $7,599,000 after acquiring an additional 21,747 shares in the last quarter. Institutional investors own 35.35% of the company’s stock.
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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