GREEN BAY, WI – In a recent transaction, Brad Vincent Hutjens, the Executive Vice President and Chief Credit Officer of Nicolet National Bank, part of Nicolet Bankshares Inc . (NASDAQ:NCBS), sold 10,000 shares of the company's common stock, generating a total of $990,019. The shares were sold at prices ranging from $99.00 to $99.09, according to a weighted average disclosed in the filing.
On the same day, Hutjens also acquired 10,000 shares of Nicolet Bankshares Inc. at a price of $37.18 per share, totaling $371,800 in stock purchases. These transactions were reported in a recent filing with the Securities and Exchange Commission.
Following the sale, Hutjens directly owns 26,642 shares of the company's stock, excluding 700 shares in the Employee Stock Purchase Plan and 1,818 shares held indirectly by a 401(k) plan. The recent filing also revealed that Hutjens fully exercised non-qualified stock options that had vested as of September 20, 2021, for the same number of shares he sold.
Nicolet Bankshares Inc., headquartered in Green Bay, Wisconsin, operates as the bank holding company for Nicolet National Bank, which provides commercial and retail banking services in Wisconsin.
Investors and shareholders of Nicolet Bankshares Inc. can request detailed information regarding the exact number of shares sold at each price point within the reported range from the company or Mr. Hutjens, as indicated in the footnotes of the SEC filing.
In other recent news, Nicolet Bankshares has been making significant strides in their financial performance. The company's second-quarter results revealed an earnings per share (EPS) of $1.89, surpassing both consensus and Maxim Group's estimates, a result attributed to an expanded net interest margin and a 2% increase in loan growth. Maxim Group subsequently revised its price target for Nicolet Bankshares to $120, maintaining a Buy rating.
Stephens also raised its price target for the company to $110, following a robust balance sheet expansion and controlled operating expenses in Q2. The bank also reported a 14% year-over-year increase in Wealth Management fees in the same quarter.
Piper Sandler, on the other hand, increased its price target for Nicolet Bankshares to $104, citing a 1.3% return on assets and a 16.8% return on tangible common equity. The firm also raised its 2024 and 2025 operating earnings per share (EPS) estimates for the company due to higher net interest income expectations.
In a move demonstrating its financial stability and commitment to its investors, Nicolet Bankshares announced a 12% increase in its dividend, now set at $0.28 per share. This development was acknowledged by Keefe, Bruyette & Woods, who maintained a Market Perform rating for the company. These are some of the recent developments that highlight Nicolet Bankshares' strong financial position and strategic efforts to enhance shareholder value.
InvestingPro Insights
In light of the recent financial activities of Nicolet National Bank's Executive Vice President and Chief Credit Officer, Brad Vincent Hutjens, investors may be curious about the broader financial health and performance metrics of Nicolet Bankshares Inc. (NASDAQ:NCBS). According to InvestingPro data, Nicolet Bankshares Inc. boasts a market capitalization of $1.45 billion and has demonstrated robust revenue growth over the last twelve months as of Q2 2024, with a notable increase of 29.2%. This growth is reflective of the company's ability to expand its revenue streams effectively.
InvestingPro Tips suggest that Nicolet Bankshares Inc. is currently trading at a low P/E ratio relative to near-term earnings growth, which stands at 13.5. This indicates that the stock may be undervalued considering its earnings potential. Additionally, the company has shown significant returns over the past week, month, and three months, with a one-week price total return of 9.13%, a one-month return of 24.99%, and a three-month return of 21.0%. These figures highlight the stock's strong recent performance and could be a signal to investors looking for growth opportunities.
For those looking to delve deeper into the financials and future prospects of Nicolet Bankshares Inc., InvestingPro offers additional insights and tips that could prove invaluable. With a total of 9 InvestingPro Tips available, including predictions on profitability and analysis of profit margins, investors can gain a comprehensive understanding of the company's financial trajectory. To access these exclusive insights, visit: https://www.investing.com/pro/NCBS. Moreover, by using the coupon code PRONEWS24, investors can receive up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, further enriching their investment strategy with expert analysis and real-time data.
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