GREEN BAY, WI—In a recent transaction, Robert Bruce Atwell, a director of Nicolet Bankshares Inc . (NASDAQ:NCBS), sold a total of $1,015,754 worth of company stock, according to a Form 4 filing with the Securities and Exchange Commission. The sales occurred on July 23, with prices ranging from $100.59 to $102.64 per share.
Atwell's transactions included selling 2,000 shares at an average price of $100.59, 6,963 shares at an average price of $101.70, and 1,037 shares at an average price of $102.64. These sales were part of multiple transactions at prices within the specified ranges.
In addition to the sales, Atwell also acquired 10,000 shares of Nicolet Bankshares common stock at a price of $48.85 per share, totaling $488,500. This transaction was executed under the same Form 4 filing and represents an exercise of options that had vested as of May 16, 2022.
Following these transactions, Atwell's direct holdings in Nicolet Bankshares common stock have changed significantly. The director now owns 37,515 shares directly, with additional indirect ownership through a deferred compensation plan for non-employee directors and a son's UTMA account, totaling 202.7 shares.
Investors often monitor insider transactions as they can provide insights into the company's performance and management's confidence in the firm's prospects. The recent sale by Atwell represents a notable change in his investment in the company, although the reasons behind the director's decision to sell a portion of his holdings have not been disclosed.
Nicolet Bankshares Inc., headquartered in Green Bay, Wisconsin, is a financial institution that operates through its subsidiary, Nicolet National Bank, providing banking and related services to individuals and businesses.
The detailed information regarding the number of shares sold at each price within the reported ranges is available upon request to Nicolet Bankshares, Inc., its security holders, or the staff of the Securities and Exchange Commission.
In other recent news, Nicolet Bankshares has been making headlines with its robust financial performance and strategic moves. The company reported impressive second-quarter results, including an earnings per share (EPS) of $1.89, surpassing both the consensus estimate of $1.66 and Maxim Group's forecast of $1.69. The strong performance was largely due to an expanded net interest margin, a 2% increase in loan growth, and sustained strong credit quality.
In response to these results, Maxim Group has increased its price target for Nicolet Bankshares to $120, up from $95, while maintaining a Buy rating for the stock. Stephens and Piper Sandler also revised their price targets to $110 and $104 respectively, both maintaining Neutral ratings.
Nicolet Bankshares also reported a 14% year-over-year increase in Wealth Management fees and a significant recovery in deposit trends. Furthermore, the bank announced a 12% increase in its dividend, now set at $0.28 per share, indicating its commitment to returning capital to its shareholders. These are some of the recent developments from Nicolet Bankshares, showcasing the company's strong financial position and strategic efforts to enhance shareholder value.
InvestingPro Insights
In light of the recent insider transactions at Nicolet Bankshares Inc. (NASDAQ:NCBS), current and potential investors might be curious about the company's financial health and performance metrics. According to InvestingPro, Nicolet Bankshares is trading at a low P/E ratio relative to near-term earnings growth, with an adjusted P/E ratio of 14.51 for the last twelve months as of Q2 2024. This could suggest that the stock is potentially undervalued given its earnings trajectory.
InvestingPro data also shows a robust revenue growth of 29.2% for the same period, indicating that the company is expanding its financial top line. Furthermore, Nicolet Bankshares has demonstrated a strong return over the last month, with a 28.22% total return, which aligns with a positive trend over the last quarter and six months, showing 23.19% and 24.18% returns respectively.
While some may scrutinize the insider selling, it's important to note that Nicolet Bankshares is trading near its 52-week high, with its price at 97.73% of the peak. This high valuation could be a factor in the director's decision to sell. Moreover, with four analysts having revised their earnings upwards for the upcoming period, as per InvestingPro Tips, there is a sentiment of confidence in the company's future profitability among market experts.
For those seeking more comprehensive analysis, InvestingPro provides additional insights on Nicolet Bankshares, including tips on the company's profit margins and long-term returns. Interested readers can unlock these exclusive tips and data points with a subscription to InvestingPro. Use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription and gain access to a total of 9 InvestingPro Tips for Nicolet Bankshares, which can be found at: https://www.investing.com/pro/NCBS
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