GREEN BAY, WI - Nicolet Bankshares Inc . (NASDAQ:NCBS) has reported that director Susan L. Merkatoris sold a total of 5,000 shares of company stock on July 22, 2024, according to a recent SEC filing. The transactions were executed in two equal batches of 2,500 shares, with prices ranging from $96.91 to $98.00 per share, resulting in a total sale value of approximately $487,275.
The sales took place at weighted average prices, where the first batch of 2,500 shares was sold at an average of $96.91 each, while the second batch was sold at an even higher average of $98.00 per share. The specific prices for these transactions varied, with the range for the first batch being from $96.725 to $97.05. This information was detailed in a footnote of the SEC filing, which also indicated Merkatoris's willingness to provide full information regarding the number of shares sold at each separate price within the stated range upon request.
Following these transactions, Merkatoris still holds a significant amount of Nicolet Bankshares stock, with 83,218 shares remaining in her possession. The sales represent a portion of her holdings and do not necessarily indicate a shift in the long-term perspective of her investment in the bank.
Investors often monitor insider transactions such as these for insights into the perspectives of company executives and directors regarding their own firm's stock. While the reasons behind Merkatoris's decision to sell are not disclosed in the filing, such transactions are regularly reported and can be a routine part of personal financial management for corporate insiders.
Nicolet Bankshares Inc., headquartered in Green Bay, Wisconsin, operates as the holding company for Nicolet National Bank, providing banking services to businesses and individuals. The company has been a fixture in the financial landscape of the region, and insider transactions are a normal part of the ebb and flow of any publicly traded company.
In other recent news, Nicolet Bankshares has garnered attention with its robust financial performance. The company's second-quarter results showcased an EPS of $1.89, surpassing both the consensus estimate of $1.66 and Maxim Group's forecast of $1.69. This outperformance was attributed to an expanded net interest margin, a 2% increase in loan growth, and strong credit quality. In response, Maxim Group increased Nicolet Bankshares' price target from $95 to $120 and maintained a Buy rating.
In addition to these earnings, Nicolet Bankshares saw a significant recovery in deposit trends and a 14% year-over-year increase in Wealth Management fees in Q2 of 2024. The company also announced a 12% increase in its dividend, now set at $0.28 per share, reflecting a commitment to returning capital to its investors. Stephens and Piper Sandler also adjusted their price targets for Nicolet Bankshares to $110 and $104, respectively.
These recent developments highlight Nicolet Bankshares' strategic efforts to enhance shareholder value. The company's strong financial position and successful business strategy have been acknowledged by multiple analyst firms, including Keefe, Bruyette & Woods, which maintained a Market Perform rating for the company.
InvestingPro Insights
As Nicolet Bankshares Inc. (NASDAQ:NCBS) navigates the financial landscape, recent data from InvestingPro provides a glimpse into the company's current market standing. With a market capitalization of $1.54 billion and a P/E ratio of 13.5, Nicolet Bankshares presents an interesting case for investors. Notably, the company's P/E ratio, adjusted for the last twelve months as of Q2 2024, stands at 14.27, which, when paired with a PEG ratio of 0.21, suggests that the stock is trading at a low price relative to near-term earnings growth potential.
InvestingPro Tips indicate that four analysts have revised their earnings upwards for the upcoming period, reflecting optimism about the company's financial prospects. Additionally, the stock's strong performance is evident with a 30.15% price total return over the last month and a 27.03% return over the last three months. These figures underscore the company's robust performance in the short term, aligning with the positive revisions by analysts.
For investors seeking more in-depth analysis, there are additional InvestingPro Tips available at https://www.investing.com/pro/NCBS. These insights could provide further clarity on the company's financial health and future outlook. Interested readers can access these tips and take advantage of a special offer using the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
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