Nicolet Bankshares price target raised to $112 from $105 at Stephens

Stephens analyst Terry McEvoy raised the firm’s price target on Nicolet Bankshares to $112 from $105 and keeps an Equal Weight rating on the shares following Q3 results. The firm told investors in a research note that the company has demonstrated its ability to gain market share as larger banks focus elsewhere. Stephens anticipates the net interest margin to benefit from $750M of fixed-rate loan repricing over the next year. According to the firm, wealth management is an “emerging area of strength” for Nicolet, and the company remains in a “favorable” position once the mergers and acquisitions window opens.