Nicolet Bankshares (NYSE:NIC) Stock Rating Lowered by Zacks Research

Nicolet Bankshares (NYSE:NIC) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Wednesday,Zacks.com reports.

Several other brokerages also recently weighed in on NIC. Hovde Group cut their price target on Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Maxim Group raised their target price on Nicolet Bankshares from $161.00 to $173.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Weiss Ratings cut Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday. Piper Sandler dropped their target price on Nicolet Bankshares from $185.00 to $183.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 22nd. Finally, Keefe, Bruyette & Woods raised their target price on Nicolet Bankshares from $165.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, January 22nd. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $176.50.

Nicolet Bankshares Price Performance

Shares of NIC opened at $142.12 on Wednesday. The business’s 50-day moving average is $147.58 and its two-hundred day moving average is $139.86. The company has a market capitalization of $3.02 billion, a P/E ratio of 16.66 and a beta of 0.70. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 0.91. Nicolet Bankshares has a fifty-two week low of $114.11 and a fifty-two week high of $163.11.

Nicolet Bankshares (NYSE:NIC) last announced its quarterly earnings results on Tuesday, April 21st. The company reported $2.75 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.23). The company had revenue of $134.85 million for the quarter, compared to analyst estimates of $129.74 million. Nicolet Bankshares had a return on equity of 11.48% and a net margin of 21.89%. Research analysts predict that Nicolet Bankshares will post 11.75 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Robert Bruce Atwell sold 3,331 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $150.67, for a total value of $501,881.77. Following the transaction, the director directly owned 34,054 shares of the company’s stock, valued at approximately $5,130,916.18. This trade represents a 8.91% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. PDT Partners LLC lifted its stake in Nicolet Bankshares by 1.8% in the 2nd quarter. PDT Partners LLC now owns 5,572 shares of the company’s stock valued at $688,000 after buying an additional 100 shares in the last quarter. ProShare Advisors LLC lifted its stake in Nicolet Bankshares by 4.9% in the 4th quarter. ProShare Advisors LLC now owns 2,424 shares of the company’s stock valued at $294,000 after buying an additional 113 shares in the last quarter. LPL Financial LLC lifted its stake in Nicolet Bankshares by 4.6% in the 4th quarter. LPL Financial LLC now owns 2,836 shares of the company’s stock worth $344,000 after purchasing an additional 126 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Nicolet Bankshares by 71.8% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 347 shares of the company’s stock worth $47,000 after purchasing an additional 145 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in Nicolet Bankshares by 0.6% in the 4th quarter. Bank of Montreal Can now owns 23,181 shares of the company’s stock worth $2,829,000 after purchasing an additional 147 shares in the last quarter. 43.06% of the stock is owned by hedge funds and other institutional investors.

Nicolet Bankshares Company Profile

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.