Nicolet Bankshares (NYSE:NIC) Rating Lowered to “Strong Sell” at Zacks Research

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

A number of other equities analysts also recently commented on the company. Weiss Ratings downgraded Nicolet Bankshares from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday. Piper Sandler reduced their target price on shares of Nicolet Bankshares from $185.00 to $183.00 and set an “overweight” rating on the stock in a report on Wednesday, April 22nd. Maxim Group boosted their price target on shares of Nicolet Bankshares from $161.00 to $173.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Hovde Group reduced their price objective 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. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Nicolet Bankshares from $165.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, January 22nd. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $176.50.

Nicolet Bankshares Stock Down 0.1%

Shares of NYSE NIC opened at $142.12 on Wednesday. The stock has a market cap of $3.02 billion, a P/E ratio of 16.66 and a beta of 0.70. The business’s fifty day simple moving average is $147.58 and its 200-day simple moving average is $139.86. Nicolet Bankshares has a 12-month low of $114.11 and a 12-month 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.

Nicolet Bankshares (NYSE:NIC) last released 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). Nicolet Bankshares had a return on equity of 11.48% and a net margin of 21.89%.The company had revenue of $134.85 million for the quarter, compared to analyst estimates of $129.74 million. As a group, equities analysts predict that Nicolet Bankshares will post 11.75 EPS for the current fiscal year.

Insider Buying and Selling

In other Nicolet Bankshares news, Director Robert Bruce Atwell sold 3,331 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $150.67, for a total transaction of $501,881.77. Following the sale, the director 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Royal Bank of Canada raised its stake in Nicolet Bankshares by 150.8% during the 1st quarter. Royal Bank of Canada now owns 13,987 shares of the company’s stock worth $1,524,000 after acquiring an additional 8,410 shares in the last quarter. AQR Capital Management LLC boosted its stake in Nicolet Bankshares by 15.2% in the first quarter. AQR Capital Management LLC now owns 11,819 shares of the company’s stock valued at $1,288,000 after acquiring an additional 1,557 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Nicolet Bankshares by 6.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,134 shares of the company’s stock worth $886,000 after purchasing an additional 517 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Nicolet Bankshares by 6.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 29,778 shares of the company’s stock worth $3,245,000 after purchasing an additional 1,922 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Nicolet Bankshares by 3,940.0% during the second quarter. EverSource Wealth Advisors LLC now owns 202 shares of the company’s stock worth $25,000 after purchasing an additional 197 shares in the last quarter. 43.06% of the stock is owned by hedge funds and other institutional investors.

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.