Short Interest in Nicolet Bankshares Inc (NASDAQ:NCBS) Grows By 10.2%

Nicolet Bankshares Inc (NASDAQ:NCBS) was the recipient of a significant growth in short interest in November. As of November 29th, there was short interest totalling 273,700 shares, a growth of 10.2% from the November 14th total of 248,300 shares. Approximately 3.4% of the company’s stock are short sold. Based on an average trading volume of 25,500 shares, the days-to-cover ratio is currently 10.7 days.

In other news, EVP Michael E. Daniels sold 10,818 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $70.58, for a total transaction of $763,534.44. Also, CEO Robert Bruce Atwell sold 18,105 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $70.58, for a total value of $1,277,850.90. 17.40% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System increased its holdings in Nicolet Bankshares by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 12,771 shares of the bank’s stock worth $850,000 after buying an additional 153 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in Nicolet Bankshares by 13.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,690 shares of the bank’s stock worth $105,000 after buying an additional 203 shares in the last quarter. Swiss National Bank grew its stake in shares of Nicolet Bankshares by 1.9% during the 2nd quarter. Swiss National Bank now owns 15,900 shares of the bank’s stock valued at $987,000 after purchasing an additional 300 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Nicolet Bankshares by 17.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,251 shares of the bank’s stock valued at $140,000 after purchasing an additional 340 shares during the period. Finally, Tower Research Capital LLC TRC bought a new stake in shares of Nicolet Bankshares during the 2nd quarter valued at about $28,000. Institutional investors own 40.70% of the company’s stock.

Several equities analysts have recently weighed in on NCBS shares. DA Davidson raised their price target on Nicolet Bankshares from $62.00 to $67.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. BidaskClub upgraded Nicolet Bankshares from a “sell” rating to a “hold” rating in a report on Thursday, November 28th. ValuEngine downgraded Nicolet Bankshares from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Finally, Zacks Investment Research upgraded Nicolet Bankshares from a “strong sell” rating to a “hold” rating and set a $77.00 price objective for the company in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $71.67.

NASDAQ NCBS traded down $0.10 during trading hours on Friday, hitting $74.10. The company’s stock had a trading volume of 26,094 shares, compared to its average volume of 33,024. Nicolet Bankshares has a 12 month low of $46.02 and a 12 month high of $75.00. The company’s 50 day simple moving average is $70.99 and its two-hundred day simple moving average is $65.71. The company has a market cap of $684.66 million, a P/E ratio of 14.89 and a beta of 0.86. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.93 and a quick ratio of 0.92.

Nicolet Bankshares (NASDAQ:NCBS) last released its quarterly earnings data on Tuesday, October 15th. The bank reported $1.40 EPS for the quarter, topping the consensus estimate of $1.18 by $0.22. Nicolet Bankshares had a return on equity of 11.75% and a net margin of 28.83%. The company had revenue of $41.50 million during the quarter.

About Nicolet Bankshares

Nicolet Bankshares, Inc operates as the holding company for Nicolet National Bank that provides commercial and retail banking services for businesses and individuals. The company accepts checking, savings, and money market accounts; various certificates of deposit; and individual retirement accounts.

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