In a report released yesterday, Michael Diana from Maxim Group reiterated a Buy rating on Nicolet Bankshares (NCBS), with a price target of $71. The company’s shares opened today at $63.35, close to its 52-week high of $63.94.
Diana observed:
“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.”
According to TipRanks.com, Diana is a 5-star analyst with an average return of 7.0% and a 58.3% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Manhattan Bridge Capital Inc, and Arlington Asset Investment.
Currently, the analyst consensus on Nicolet Bankshares is a Moderate Buy with an average price target of $66.
See today’s analyst top recommended stocks >>
Nicolet Bankshares’ market cap is currently $592.1M and has a P/E ratio of 12.30. The company has a Price to Book ratio of 1.44.
Based on the recent corporate insider activity of 110 insiders, corporate insider sentiment is negative on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Nicolet Bankshares, Inc. is a holding company, which engages in the provision of commercial and consumer banking services through its subsidiary, Nicolet Bank. It offers commercial and personal checking accounts, interest-bearing checking accounts; savings accounts; money market accounts; various types of certificates of deposit; and individual retirement accounts. It also provides commercial, construction, real estate, home equity, and consumer loans; as well as trust, investment management, and brokerage services. The company was founded by Robert Bruc Atwell and Michael E. Daniels on April 5, 2000 and is headquartered in Green Bay, WI.
