Robert Bruce Atwell, a director at Nicolet Bankshares (NASDAQ:NCBS) Inc (NASDAQ:NIC (NASDAQ:EGOV)), has sold 9,986 shares of the company's common stock. The sale, executed on November 8, 2024, was made at a price of $110 per share, amounting to a total transaction value of approximately $1.1 million.
In a related transaction, Atwell exercised stock options to acquire the same number of shares—9,986—at a price of $48.85 per share. This exercise was valued at $487,816.
Following these transactions, Atwell now directly owns 33,315 shares of Nicolet Bankshares. Additionally, he holds indirect ownership of shares through a deferred compensation plan and a UTMA account.
In other recent news, Nicolet Bankshares reported strong third-quarter earnings with a core earnings per share (EPS) of $1.98, surpassing the consensus estimate of $1.86. This robust performance was attributed to a wider net interest margin and a continuation of strong credit quality. Following these results, Maxim (NASDAQ:MXIM) Group raised its target price for Nicolet Bankshares to $124, maintaining a Buy rating.
In addition to this, the bank has also been the subject of other analyst upgrades. Stephens raised its price target for Nicolet to $112, maintaining an Equal Weight rating, while Piper Sandler increased its target to $104, maintaining a Neutral rating. These revisions were based on Nicolet Bankshares' consistent strong performance, including a 2% increase in loan growth and a 14% year-over-year increase in Wealth Management fees.
In other recent developments, Nicolet Bankshares increased its dividend by 12% to $0.28 per share. This follows a series of positive performances by the bank, including surpassing both consensus and Maxim Group's estimates in the second quarter of 2024. These are the recent developments for Nicolet Bankshares.
InvestingPro Insights
The recent insider transaction at Nicolet Bankshares Inc (NASDAQ:NIC) occurs against a backdrop of strong financial performance and market positioning. According to InvestingPro data, NIC's market capitalization stands at $1.73 billion, with a price-to-earnings ratio of 12.8, suggesting the stock may be undervalued relative to its earnings potential. This aligns with an InvestingPro Tip indicating that NIC is trading at a low P/E ratio relative to its near-term earnings growth.
The company's revenue growth of 28.93% over the last twelve months as of Q3 2024 demonstrates robust expansion. This growth is complemented by an impressive operating income margin of 46.8%, highlighting NIC's operational efficiency. These metrics support another InvestingPro Tip that analysts predict the company will be profitable this year.
Investors may find NIC's recent stock performance particularly noteworthy. The company has seen a significant 58.52% total return over the past year, and is currently trading near its 52-week high, with the stock price at 98.56% of its peak. This strong momentum is reflected in InvestingPro Tips mentioning significant returns over various time frames, including the last week, month, and three months.
For those interested in a deeper analysis, InvestingPro offers 11 additional tips for Nicolet Bankshares, providing a more comprehensive view of the company's financial health and market position.
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