GREEN BAY, WI—Robert Bruce Atwell, a director at Nicolet Bankshares (NASDAQ:NCBS) Inc. (NASDAQ:NIC (NASDAQ:EGOV)), a $1.68 billion market cap regional bank whose shares have surged 43% over the past six months, recently engaged in a series of stock transactions involving the company's common shares, according to a filing with the Securities and Exchange Commission.
On December 2, Atwell sold 3,446 shares of Nicolet Bankshares common stock at a price of $113 per share, totaling $389,398. This sale reduced his direct ownership to 32,831 shares.
Additionally, Atwell exercised stock options to acquire the same number of shares—3,446—at an exercise price of $48.85 per share. This transaction was valued at $168,337.
Following these transactions, Atwell's direct ownership stood at 121,554 shares, reflecting the exercise of options and subsequent sale. The director also 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. According to InvestingPro analysis, the stock currently trades below its Fair Value, with additional insights and 6 more ProTips available to subscribers.
In other recent news, Nicolet Bankshares has been under the spotlight following its strong third-quarter financial results. The bank reported a core earnings per share (EPS) of $1.98, surpassing the consensus estimate of $1.86. This better-than-expected performance was attributed to a wider net interest margin (NIM) and strong credit quality. In response to these robust results, Maxim Group revised its 2025 GAAP EPS estimate for Nicolet Bankshares upward to $8.60 and increased the stock price target to $124.
The bank's strong performance was also recognized by other firms. Stephens raised 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. These upgrades reflect the bank's strong financial health and positive future expectations.
In terms of other recent developments, Nicolet Bankshares demonstrated a significant recovery in deposit trends and a 14% year-over-year increase in Wealth Management fees. Additionally, the company increased its dividend by 12% to $0.28 per share, indicating a commitment to returning capital to its investors. These developments highlight Nicolet Bankshares' continued growth and profitability.
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