In a recent disclosure to the Securities and Exchange Commission, Robert Bruce Atwell, a director at Nicolet Bankshares (NASDAQ:NCBS) Inc. (NASDAQ:NIC (NASDAQ:EGOV)), reported selling a substantial amount of the company's common stock. The transactions, dated October 18, 2024, involved the sale of 2,908 shares, generating a total of $300,168. The shares were sold at prices ranging from $103.19 to $104.03 per share.
Alongside these sales, Atwell also exercised stock options to acquire 2,908 shares at a price of $48.85 per share, amounting to a total of $142,055. Following these transactions, Atwell holds 35,815 shares directly.
Additionally, Atwell maintains indirect holdings through the Nicolet National Bank Deferred Compensation Plan for Non-employee Directors and his son's UTMA account, with 268.354 and 150 shares, respectively.
In other recent news, Nicolet Bankshares reported strong third-quarter financial results, with core earnings per share (EPS) of $1.98, surpassing the consensus estimate of $1.86. This performance was primarily due to a wider net interest margin (NIM) and strong credit quality. Following these results, Maxim Group raised its stock price target for Nicolet Bankshares to $124 and maintained a Buy rating. The firm also revised its 2025 GAAP EPS estimate for Nicolet Bankshares upward to $8.60, reflecting expectations of further rate cuts by the Federal Reserve.
In addition to Maxim Group, financial services firm Stephens also raised its price target for Nicolet Bankshares to $112, while maintaining an Equal Weight rating. This was in response to Nicolet's strong second-quarter performance, which saw operational earnings per share (EPS) and pre-provision net revenue (PPNR) exceed consensus estimates by approximately 9%.
Lastly, Nicolet Bankshares demonstrated a significant recovery in deposit trends and a 14% year-over-year increase in Wealth Management fees. As a result, the company increased its dividend by 12% to $0.28 per share. These are some of the recent developments at Nicolet Bankshares.
InvestingPro Insights
Recent transactions by Nicolet Bankshares Inc . (NASDAQ:NIC) director Robert Bruce Atwell align with the company's current financial position and market performance. According to InvestingPro data, Nicolet Bankshares has a market capitalization of $1.51 billion and is trading at a P/E ratio of 12.96, suggesting a relatively attractive valuation.
The company's revenue growth is noteworthy, with a 28.93% increase over the last twelve months as of Q3 2024, reaching $342.79 million. This growth trajectory is complemented by a strong operating income margin of 46.8% for the same period, indicating efficient operations.
InvestingPro Tips highlight that Nicolet Bankshares is trading at a low P/E ratio relative to its near-term earnings growth, which could explain why a director might exercise options while also selling shares to potentially realize gains. The company's profitability over the last twelve months and analysts' predictions of continued profitability this year further support a positive outlook.
Investors should note that Nicolet Bankshares offers a dividend yield of 1.12%, with a 12% dividend growth rate over the last twelve months. The stock has also shown strong performance, with a 48.56% total return over the past year.
For those seeking a deeper analysis, InvestingPro offers additional insights, including 6 more tips that could provide valuable context to Atwell's recent stock transactions and the company's overall financial health.
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