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

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

Other equities analysts have also recently issued research reports about the company. Raymond James Financial began coverage on Nicolet Bankshares in a report on Tuesday. They issued a “market perform” rating for the company. Piper Sandler lowered their price objective 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. Hovde Group cut their target price on Nicolet Bankshares from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. Finally, Weiss Ratings cut Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $176.50.

Nicolet Bankshares Stock Performance

NYSE:NIC opened at $152.26 on Monday. The firm’s 50-day moving average is $145.43 and its 200-day moving average is $143.03. Nicolet Bankshares has a 52-week low of $114.11 and a 52-week high of $163.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 17.85 and a beta of 0.67.

Nicolet Bankshares (NYSE:NIC) last released its 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). Nicolet Bankshares had a net margin of 21.89% and a return on equity of 11.48%. The company had revenue of $134.85 million during the quarter, compared to the consensus estimate of $129.74 million. Equities research analysts anticipate that Nicolet Bankshares will post 11.75 earnings per share for the current year.

Hedge Funds Weigh In On Nicolet Bankshares

A number of large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its position in Nicolet Bankshares by 3,940.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock worth $25,000 after purchasing an additional 197 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Nicolet Bankshares in the 4th quarter valued at $48,000. Clearstead Advisors LLC increased its stake in shares of Nicolet Bankshares by 192.9% in the 4th quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock valued at $55,000 after buying an additional 297 shares during the period. Parallel Advisors LLC increased 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 buying an additional 366 shares during the period. Finally, UMB Bank n.a. bought a new stake in shares of Nicolet Bankshares during the fourth quarter worth $102,000. 43.06% of the stock is currently owned by institutional investors and hedge funds.

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.