Robert Bruce Atwell, a director at Nicolet Bankshares (NASDAQ:NCBS) Inc. (NASDAQ:NIC (NASDAQ:EGOV)), recently sold a significant portion of his holdings in the company. According to the latest SEC filing, Atwell sold a total of 2,500 shares of common stock on October 22, 2024. The shares were sold at prices ranging from $101.00 to $101.07, amounting to a total transaction value of $252,520.
Following these transactions, Atwell retains direct ownership of 33,315 shares of Nicolet Bankshares. Additionally, he holds indirect ownership of 268.354 shares through the Nicolet National Bank Deferred Compensation Plan for Non-employee Directors and 150 shares in his son's UTMA account.
These transactions provide insight into Atwell's current stake in Nicolet Bankshares, as well as his ongoing involvement with the company. Investors may find these developments noteworthy as they assess the company's leadership and stock performance.
In other recent news, Nicolet Bankshares has been performing exceptionally with its third-quarter earnings per share (EPS) of $1.98, surpassing the consensus estimate of $1.86. This was largely due to an increase in net interest margin and strong credit quality. Following this performance, Maxim Group raised its price target for the company to $124, maintaining a Buy rating.
In addition to the earnings, Nicolet Bankshares has also demonstrated strong second-quarter performance, exceeding consensus estimates by approximately 9%. This prompted Stephens to raise its price target for the company to $112, while maintaining an Equal Weight rating. Similarly, Piper Sandler increased its price target for Nicolet Bankshares 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 are some of the recent developments at Nicolet Bankshares, reflecting its continued growth and profitability. The company's robust performance has also led to a 12% increase in its dividend to $0.28 per share. With these developments, Nicolet Bankshares continues to be a significant player in the financial sector.
InvestingPro Insights
To provide additional context to Robert Bruce Atwell's recent stock sale, let's examine some key financial metrics and insights for Nicolet Bankshares Inc . (NASDAQ:NIC).
According to InvestingPro data, Nicolet Bankshares currently has a market capitalization of $1.55 billion and a P/E ratio of 12.96, suggesting the stock may be reasonably valued relative to its earnings. This is further supported by an InvestingPro Tip indicating that NIC is trading at a low P/E ratio relative to its near-term earnings growth, which could be of interest to value-oriented investors.
The company's revenue for the last twelve months as of Q3 2024 stood at $342.79 million, with a robust revenue growth of 28.93% over the same period. This strong top-line performance is complemented by an impressive operating income margin of 46.8%, highlighting the company's operational efficiency.
An InvestingPro Tip notes that Nicolet Bankshares has seen a large price uptick over the last six months, which aligns with the reported 27.22% price total return over the same period. This positive momentum may have influenced Atwell's decision to sell a portion of his holdings.
For investors seeking more comprehensive analysis, InvestingPro offers 7 additional tips for Nicolet Bankshares, providing a deeper understanding of the company's financial health and market position.
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