Nicolet Bankshares (NCBS) Upgraded at Zacks Investment Research

Nicolet Bankshares (NASDAQ:NCBS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

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. “

NCBS has been the subject of several other research reports. ValuEngine downgraded Nicolet Bankshares from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Maxim Group reiterated a “buy” rating and issued a $65.00 price objective on shares of Nicolet Bankshares in a research report on Thursday, January 18th. DA Davidson assumed coverage on Nicolet Bankshares in a research report on Thursday, December 14th. They issued a “neutral” rating and a $61.00 price objective for the company. BidaskClub downgraded Nicolet Bankshares from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 4th. Finally, Sandler O’Neill reiterated a “hold” rating and issued a $58.50 price objective on shares of Nicolet Bankshares in a research report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Nicolet Bankshares presently has an average rating of “Hold” and a consensus price target of $61.88.

Nicolet Bankshares (NASDAQ NCBS) opened at $54.31 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.89 and a quick ratio of 0.89. Nicolet Bankshares has a 52-week low of $45.00 and a 52-week high of $61.98. The stock has a market capitalization of $525.46, a price-to-earnings ratio of 15.77, a price-to-earnings-growth ratio of 2.26 and a beta of 1.28.

In related news, Director Michael J. Gilson sold 2,286 shares of Nicolet Bankshares stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $58.00, for a total transaction of $132,588.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Patrick Joseph Madson sold 1,027 shares of Nicolet Bankshares stock in a transaction on Friday, December 15th. The stock was sold at an average price of $57.65, for a total value of $59,206.55. The disclosure for this sale can be found here. 13.90% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC grew its stake in shares of Nicolet Bankshares by 10.9% during the fourth quarter. Renaissance Technologies LLC now owns 64,315 shares of the bank’s stock worth $3,521,000 after purchasing an additional 6,315 shares during the period. Geode Capital Management LLC grew its stake in shares of Nicolet Bankshares by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 64,095 shares of the bank’s stock worth $3,508,000 after purchasing an additional 4,540 shares during the period. BlackRock Inc. grew its stake in shares of Nicolet Bankshares by 3.2% during the fourth quarter. BlackRock Inc. now owns 450,127 shares of the bank’s stock worth $24,640,000 after purchasing an additional 14,039 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Nicolet Bankshares by 9.9% during the fourth quarter. Bank of New York Mellon Corp now owns 36,856 shares of the bank’s stock worth $2,017,000 after purchasing an additional 3,323 shares during the period. Finally, Wells Fargo & Company MN grew its stake in Nicolet Bankshares by 3.3% in the fourth quarter. Wells Fargo & Company MN now owns 36,495 shares of the bank’s stock valued at $1,998,000 after acquiring an additional 1,175 shares during the period. 35.59% of the stock is owned by institutional investors and hedge funds.

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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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