Maxim Group reaffirmed their buy rating on shares of Nicolet Bankshares (NASDAQ:NCBS) in a report issued on Thursday morning, AnalystRatings.com reports. They currently have a $71.00 price objective on the bank’s stock.
“2Q19 core EPS of $1.36 (excluding net non-recurring items adding $0.55) beat consensus of $1.09, due to a much wider net interest margin (NIM), which was up 23bps. Even with a more normalized NIM, it was still a big beat. We are raising our 2020 EPS estimate to $5.05, from $4.70, and raising our price target to $71, from $66. Our new price target equates to 14.1x our new 2020 EPS estimate (versus 14.0x for our previous price target), which is in line with the 2020E P/E multiples of higher-valued small-cap peers. We believe NCBS deserves to trade with higher-valued peers based on its superior net interest margin, core deposit funding, and non-interest income contribution, as well as its record of successfully integrating two material acquisitions in the past two years.”,” the firm’s analyst wrote.
Several other equities analysts also recently commented on NCBS. Zacks Investment Research downgraded shares of Hallmark Financial Services from a buy rating to a hold rating in a research note on Thursday. BidaskClub downgraded shares of Weyco Group from a sell rating to a strong sell rating in a research note on Saturday, July 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Nicolet Bankshares has a consensus rating of Hold and an average price target of $67.00.
Nicolet Bankshares (NASDAQ:NCBS) last posted its quarterly earnings results on Tuesday, July 16th. The bank reported $1.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.27. The business had revenue of $47.50 million during the quarter, compared to the consensus estimate of $37.90 million. Nicolet Bankshares had a net margin of 28.06% and a return on equity of 11.63%. As a group, research analysts expect that Nicolet Bankshares will post 4.55 earnings per share for the current fiscal year.
In related news, CFO Ann Kuchera Lawson sold 1,000 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $60.86, for a total value of $60,860.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael E. Daniels sold 23,175 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $61.00, for a total transaction of $1,413,675.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,485 shares of company stock valued at $2,046,587. Corporate insiders own 17.40% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc lifted its position in Nicolet Bankshares by 28.7% in the fourth quarter. Legal & General Group Plc now owns 1,642 shares of the bank’s stock valued at $80,000 after acquiring an additional 366 shares during the last quarter. Meeder Asset Management Inc. lifted its position in Nicolet Bankshares by 34.6% in the first quarter. Meeder Asset Management Inc. now owns 1,487 shares of the bank’s stock valued at $89,000 after acquiring an additional 382 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Nicolet Bankshares by 0.9% in the fourth quarter. Northern Trust Corp now owns 96,491 shares of the bank’s stock valued at $4,709,000 after buying an additional 871 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Nicolet Bankshares by 413.5% in the first quarter. BNP Paribas Arbitrage SA now owns 1,633 shares of the bank’s stock valued at $97,000 after buying an additional 1,315 shares during the last quarter. Finally, Associated Banc Corp raised its holdings in shares of Nicolet Bankshares by 29.4% in the first quarter. Associated Banc Corp now owns 6,600 shares of the bank’s stock valued at $393,000 after buying an additional 1,500 shares during the last quarter. 36.14% of the stock is owned by hedge funds and other institutional investors.
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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