Nicolet Bankshares (NCBS) Stock Rating Lowered by Zacks Investment Research

Nicolet Bankshares (NASDAQ:NCBS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

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 the stock. DA Davidson initiated coverage on shares of Nicolet Bankshares in a report on Thursday, December 14th. They issued a “neutral” rating and a $61.00 price target on the stock. BidaskClub lowered shares of Nicolet Bankshares from a “hold” rating to a “sell” rating in a report on Thursday, December 14th. ValuEngine lowered shares of Nicolet Bankshares from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Maxim Group raised their price target on shares of Nicolet Bankshares from $59.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, October 19th. Finally, Sandler O’Neill restated a “hold” rating and issued a $58.50 price target on shares of Nicolet Bankshares in a report on Wednesday, January 3rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $61.88.

Nicolet Bankshares (NCBS) traded up $1.56 during midday trading on Thursday, reaching $55.72. 19,770 shares of the company traded hands, compared to its average volume of 15,737. 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 current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $546.15, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 2.43 and a beta of 1.76.

In other news, EVP Michael E. Daniels sold 24,239 shares of the firm’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 $1,367,806.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Robert Bruce Atwell sold 19,639 shares of the firm’s 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 $1,108,228.77. The disclosure for this sale can be found here. Insiders have sold 47,191 shares of company stock worth $2,667,830 in the last quarter. Insiders own 13.90% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc grew its position in shares of Nicolet Bankshares by 10.1% during the second quarter. Legal & General Group Plc now owns 2,321 shares of the bank’s stock worth $127,000 after buying an additional 212 shares in the last quarter. California State Teachers Retirement System grew its position in shares of Nicolet Bankshares by 3.3% during the second quarter. California State Teachers Retirement System now owns 15,823 shares of the bank’s stock worth $866,000 after buying an additional 500 shares in the last quarter. Nationwide Fund Advisors grew its position in shares of Nicolet Bankshares by 12.6% during the second quarter. Nationwide Fund Advisors now owns 5,035 shares of the bank’s stock worth $275,000 after buying an additional 563 shares in the last quarter. Voya Investment Management LLC grew its position in shares of Nicolet Bankshares by 15.0% during the second quarter. Voya Investment Management LLC now owns 5,021 shares of the bank’s stock worth $275,000 after buying an additional 655 shares in the last quarter. Finally, Legacy Private Trust Co. grew its position in shares of Nicolet Bankshares by 6.1% during the fourth quarter. Legacy Private Trust Co. now owns 29,726 shares of the bank’s stock worth $1,627,000 after buying an additional 1,700 shares in the last quarter. 35.35% of the stock is owned by institutional investors and hedge funds.

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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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