Zacks Research Upgrades Nicolet Bankshares (NYSE:NIC) to “Hold”

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

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

Nicolet Bankshares Stock Up 0.7%

Shares of Nicolet Bankshares stock opened at $152.26 on Monday. The stock’s fifty day moving average is $145.43 and its 200-day moving average is $143.03. The firm has a market capitalization of $3.24 billion, a PE ratio of 17.85 and a beta of 0.67. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.08. Nicolet Bankshares has a 12-month low of $114.11 and a 12-month high of $163.11.

Nicolet Bankshares (NYSE:NIC) last announced its earnings results on Tuesday, April 21st. The company reported $2.75 EPS 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 analysts’ expectations of $129.74 million. Nicolet Bankshares had a net margin of 21.89% and a return on equity of 11.48%. Equities analysts anticipate that Nicolet Bankshares will post 11.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its position in Nicolet Bankshares by 3,940.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock worth $25,000 after acquiring an additional 197 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Nicolet Bankshares in the fourth quarter worth approximately $48,000. Clearstead Advisors LLC boosted its holdings in shares of Nicolet Bankshares by 192.9% during the fourth quarter. Clearstead Advisors LLC now owns 451 shares of the company’s stock worth $55,000 after purchasing an additional 297 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Nicolet Bankshares by 151.9% during the first quarter. Parallel Advisors LLC now owns 607 shares of the company’s stock worth $90,000 after purchasing an additional 366 shares during the period. Finally, UMB Bank n.a. purchased a new position in Nicolet Bankshares during the fourth quarter valued at approximately $102,000. 43.06% of the stock is 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.