Brad Vincent Hutjens, Executive Vice President and Chief Credit Officer at Nicolet National Bank, executed a series of stock transactions involving Nicolet Bankshares (NASDAQ:NCBS) Inc (NASDAQ:NIC (NASDAQ:EGOV)) on October 23 and 24. Hutjens sold a total of 7,861 shares of common stock, generating approximately $804,003. The sales were conducted at prices ranging between $101.85 and $102.85 per share.
In addition to the sales, Hutjens acquired 7,861 shares through stock option exercises at a price of $48.85 each, resulting in a total acquisition value of $384,009. Following these transactions, Hutjens now holds 26,674 shares directly, with an additional 1,818 shares held indirectly through a 401(k) plan.
In other recent news, Nicolet Bankshares has outperformed expectations with its third-quarter results, showing core earnings per share (EPS) of $1.98, surpassing the consensus estimate of $1.86. This strong performance was attributed to an increased net interest margin and continued excellent credit quality. Following this, Maxim (NASDAQ:MXIM) Group increased its stock price target for Nicolet Bankshares to $124, maintaining its Buy rating, and revised its 2025 GAAP EPS estimate upward to $8.60.
In addition, Nicolet Bankshares saw a robust second quarter in 2024, with operational EPS and pre-provision net revenue exceeding estimates by approximately 9%. This led Stephens to raise its price target for Nicolet to $112, while maintaining an Equal Weight rating. Piper Sandler also increased its price target to $104, maintaining a Neutral rating, citing a strong quarter with a 1.3% return on assets and a 16.8% return on tangible common equity.
These recent developments highlight Nicolet Bankshares' continued growth and profitability, with an emphasis on its strong credit quality, expanded net interest margin, and increased loan growth. The company's performance also led to a 12% increase in its dividend to $0.28 per share.
InvestingPro Insights
The recent stock transactions by Brad Vincent Hutjens at Nicolet Bankshares Inc (NASDAQ:NIC) come at a time when the company's stock is trading near its 52-week high, with the price at 97.94% of its peak. This aligns with an InvestingPro Tip indicating that NIC has seen a "high return over the last year," with a remarkable 54.51% price total return over the past 12 months.
The company's financial health appears robust, with a market capitalization of $1.54 billion and a P/E ratio of 12.96, which is relatively low compared to its earnings growth. This is supported by another InvestingPro Tip suggesting that NIC is "trading at a low P/E ratio relative to near-term earnings growth." The company's PEG ratio of 0.12 further underscores this point, indicating potential undervaluation relative to growth prospects.
Nicolet Bankshares has demonstrated strong profitability, with an operating income margin of 46.8% for the last twelve months as of Q3 2024. This performance is reflected in the InvestingPro Tip noting that the company has been "profitable over the last twelve months."
For investors seeking more comprehensive analysis, InvestingPro offers additional insights with 9 more tips available for Nicolet Bankshares, providing a deeper understanding of the company's financial position and market performance.
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