Meeder Asset Management Inc. Makes New $58,000 Investment in Nicolet Bankshares, Inc. (NASDAQ:NCBS)

Meeder Asset Management Inc. bought a new position in Nicolet Bankshares, Inc. (NASDAQ:NCBS) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 828 shares of the bank’s stock, valued at approximately $58,000.

A number of other hedge funds have also recently modified their holdings of NCBS. American Century Companies Inc. acquired a new position in shares of Nicolet Bankshares during the 2nd quarter valued at about $695,000. Los Angeles Capital Management LLC acquired a new position in shares of Nicolet Bankshares during the 2nd quarter valued at about $2,634,000. Kerntke Otto McGlone Wealth Management Group increased its holdings in shares of Nicolet Bankshares by 4.8% during the 2nd quarter. Kerntke Otto McGlone Wealth Management Group now owns 6,078 shares of the bank’s stock valued at $428,000 after acquiring an additional 276 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Nicolet Bankshares by 66.7% during the 2nd quarter. Victory Capital Management Inc. now owns 4,668 shares of the bank’s stock valued at $328,000 after acquiring an additional 1,868 shares during the last quarter. Finally, Geneos Wealth Management Inc. acquired a new position in shares of Nicolet Bankshares during the 1st quarter valued at about $1,033,000. 41.93% of the stock is currently owned by institutional investors.

A number of brokerages have recently commented on NCBS. Stephens raised Nicolet Bankshares from an “equal weight” rating to an “overweight” rating and set a $88.00 price objective on the stock in a report on Monday, June 28th. Keefe, Bruyette & Woods upgraded Nicolet Bankshares from a “market perform” rating to an “outperform” rating and set a $86.00 target price for the company in a research note on Wednesday, June 23rd. Piper Sandler upgraded Nicolet Bankshares from a “neutral” rating to an “overweight” rating and increased their target price for the company from $78.00 to $88.00 in a research note on Wednesday, September 8th. Finally, Zacks Investment Research upgraded Nicolet Bankshares from a “sell” rating to a “hold” rating in a research note on Thursday, August 12th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $88.40.

In other Nicolet Bankshares news, Director Robert J. Weyers purchased 3,149 shares of the company’s stock in a transaction that occurred on Thursday, July 29th. The stock was purchased at an average cost of $72.50 per share, with a total value of $228,302.50. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Hubert Phillip Moore, Jr. purchased 4,345 shares of the company’s stock in a transaction that occurred on Thursday, July 29th. The shares were acquired at an average cost of $72.66 per share, with a total value of $315,707.70. Following the completion of the acquisition, the chief financial officer now directly owns 14,345 shares in the company, valued at $1,042,307.70. The disclosure for this purchase can be found here. 15.70% of the stock is owned by company insiders.

Shares of NCBS stock opened at $71.21 on Wednesday. The stock has a 50 day moving average of $73.32 and a two-hundred day moving average of $76.98. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.08. Nicolet Bankshares, Inc. has a 12 month low of $53.23 and a 12 month high of $86.25. The company has a market capitalization of $700.92 million, a P/E ratio of 10.20 and a beta of 0.70.

Nicolet Bankshares (NASDAQ:NCBS) last announced its quarterly earnings data on Monday, July 19th. The bank reported $1.77 EPS for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.14. Nicolet Bankshares had a return on equity of 13.28% and a net margin of 32.51%. The company had revenue of $55.98 million during the quarter, compared to the consensus estimate of $48.60 million. Sell-side analysts predict that Nicolet Bankshares, Inc. will post 6.7 earnings per share for the current fiscal year.

Nicolet Bankshares Company Profile

Nicolet Bankshares, Inc is a holding company, which engages in the provision of commercial and consumer banking services through its subsidiary. It offers lending and deposit gathering, ancillary banking-related, trust, brokerage, and other investment management products and services. The firm also delivers commercial-related and residential real estate loans.

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Institutional Ownership by Quarter for Nicolet Bankshares (NASDAQ:NCBS)

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