Brad Vincent Hutjens, Executive Vice President and Chief Credit Officer of Nicolet National Bank, part of Nicolet Bankshares (NASDAQ:NCBS) Inc. (NASDAQ:NIC (NASDAQ:EGOV)), recently reported significant stock transactions. On November 8 and 11, Hutjens exercised stock options to acquire a total of 13,500 shares at a price of $48.85 per share. Subsequently, he sold 13,500 shares, generating approximately $1.51 million, with sale prices ranging from $110.90 to $112.875 per share.
Following these transactions, Hutjens holds 26,674 shares directly and 1,818 shares indirectly through a 401(k) plan. The sales were executed in multiple transactions, as noted in the filing, which details a range of prices for the shares sold.
In other recent news, Nicolet Bankshares has been in the spotlight due to their better-than-expected third-quarter earnings results. The bank reported a core earnings per share (EPS) of $1.98, which surpassed the consensus estimate of $1.86. This strong performance was attributed to a wider net interest margin and the continuation of robust credit quality. Following these results, Maxim (NASDAQ:MXIM) Group increased its stock price target for Nicolet Bankshares to $124, up from the previous target of $120, maintaining a Buy rating.
In addition to this, Nicolet Bankshares also demonstrated a strong performance in the second quarter of 2024, exceeding consensus estimates by approximately 9%. This prompted Stephens to raise its price target for Nicolet to $112, while maintaining an Equal Weight rating. The strong performance was attributed to an expanded net interest margin, a 2% increase in loan growth, and sustained strong credit quality.
These are some of the recent developments at Nicolet Bankshares. Maxim Group has revised its 2025 GAAP EPS estimate for Nicolet Bankshares upward to $8.60, from the previous estimate of $8.50, reflecting the bank's robust third-quarter performance and positive outlook. Nicolet Bankshares also increased its dividend by 12% to $0.28 per share.
InvestingPro Insights
Nicolet Bankshares Inc . (NASDAQ:NIC) has been experiencing a strong market performance, which aligns with the recent stock transactions by Executive Vice President Brad Vincent Hutjens. According to InvestingPro data, NIC's stock has shown impressive returns, with a 57.85% price total return over the past year and a 32.36% return in the last three months. This upward trend is further supported by the stock trading at 98.73% of its 52-week high, indicating robust investor confidence.
The company's financial health appears solid, with a price-to-earnings (P/E) ratio of 12.8, suggesting a potentially undervalued stock relative to earnings. This is complemented by a low PEG ratio of 0.14, which may indicate an attractive valuation considering the company's growth prospects.
InvestingPro Tips highlight that NIC is trading at a low P/E ratio relative to its near-term earnings growth, which could be a factor in the executive's decision to exercise options and sell shares at current prices. Additionally, the tip noting that four analysts have revised their earnings upwards for the upcoming period suggests a positive outlook for the company's financial performance.
For investors seeking a deeper understanding of NIC's potential, InvestingPro offers 11 additional tips that could provide valuable insights into the company's prospects and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.