Nicolet Bankshares (NYSE:NIC) Upgraded to Hold at Zacks Research

Nicolet Bankshares (NYSE:NIC) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Several other equities research analysts have also issued reports on the company. Weiss Ratings lowered Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Piper Sandler dropped their price objective on Nicolet Bankshares from $185.00 to $183.00 and set an “overweight” rating on the stock in a report on Wednesday, April 22nd. Hovde Group cut their price objective on shares of Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Finally, Raymond James Financial started coverage on shares of Nicolet Bankshares in a research report on Tuesday. They issued a “market perform” rating for the company. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $176.50.

Nicolet Bankshares Price Performance

Shares of NYSE:NIC opened at $152.26 on Monday. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 17.85 and a beta of 0.67. Nicolet Bankshares has a 1 year low of $114.11 and a 1 year high of $163.11. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The business has a fifty day simple moving average of $145.43 and a 200 day simple moving average of $143.03.

Nicolet Bankshares (NYSE:NIC) last issued its earnings results on Tuesday, April 21st. The company reported $2.75 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.23). Nicolet Bankshares had a net margin of 21.89% and a return on equity of 11.48%. The firm had revenue of $134.85 million during the quarter, compared to analysts’ expectations of $129.74 million. As a group, sell-side analysts predict that Nicolet Bankshares will post 11.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC raised its stake in shares of Nicolet Bankshares by 151.9% in the 1st quarter. Parallel Advisors LLC now owns 607 shares of the company’s stock valued at $90,000 after acquiring an additional 366 shares in the last quarter. Bank of America Corp DE lifted its holdings in Nicolet Bankshares by 109.8% in the 1st quarter. Bank of America Corp DE now owns 31,420 shares of the company’s stock worth $4,670,000 after purchasing an additional 16,446 shares during the last quarter. Janus Henderson Group PLC boosted its position in Nicolet Bankshares by 2.7% during the first quarter. Janus Henderson Group PLC now owns 104,081 shares of the company’s stock worth $15,466,000 after purchasing an additional 2,701 shares during the period. Smith Group Asset Management LLC boosted its position in Nicolet Bankshares by 9.3% during the first quarter. Smith Group Asset Management LLC now owns 2,230 shares of the company’s stock worth $331,000 after purchasing an additional 189 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in Nicolet Bankshares by 82.1% during the first quarter. EverSource Wealth Advisors LLC now owns 630 shares of the company’s stock valued at $94,000 after purchasing an additional 284 shares during the last quarter. Institutional investors and hedge funds own 43.06% of the company’s stock.

About Nicolet Bankshares

Nicolet Bankshares, Inc is a bank holding company headquartered in Green Bay, Wisconsin. Through its subsidiary, Nicolet National Bank, it provides a range of commercial and consumer banking services to businesses, individuals and nonprofit organizations across northeastern Wisconsin and the Upper Peninsula of Michigan. The company’s branch network, digital banking platform and commercial lending centers support its focus on community banking and regional growth.

The company offers deposit products such as checking, savings and money market accounts, alongside consumer and commercial lending solutions.