In a recent transaction on June 11, Susan L. Merkatoris, a director at Nicolet Bankshares (NASDAQ:NCBS) Inc. (NASDAQ:NIC (NASDAQ:EGOV)), sold 1,000 shares of the company's common stock, totaling $76,700. The shares were sold at a weighted average price of $76.70, with individual transactions ranging from $76.54 to $76.81.
The sale was disclosed in a filing with the Securities and Exchange Commission, which included details of the transactions and the remaining shares owned by Merkatoris following the sale. After the disposal of these shares, Merkatoris continues to hold 88,218 shares of Nicolet Bankshares Inc ., indicating a continued investment in the company despite the recent sale.
The disclosure provided by Merkatoris, as required by SEC regulations, offers transparency into the trading activities of the company's directors and executives. Shareholders and potential investors often monitor such transactions as they can provide insights into the perspectives of company insiders regarding the stock's value and outlook.
Nicolet Bankshares Inc., headquartered in Green Bay, Wisconsin, operates as the holding company for Nicolet National Bank, providing banking and financial services to customers in the region. As with all trading activities by company insiders, the sale by Merkatoris will be of interest to those following the financial movements within Nicolet Bankshares Inc.
In other recent news, Nicolet Bankshares has been the subject of several analyst reports. Keefe, Bruyette & Woods maintained a Market Perform rating on the bank, acknowledging the company's recent dividend increase of 12%. The new dividend, set at $0.28 per share, signals the bank's financial health and commitment to returning capital to investors.
Simultaneously, Stephens adjusted its price target for Nicolet Bankshares, lowering it to $88 while maintaining an Equal Weight rating. This change followed the bank's first-quarter earnings for 2024, which exceeded expectations with an operating earnings per share (EPS) of $1.72. However, the bank saw a decrease in non-interest-bearing deposits during this period.
Lastly, Piper Sandler revised its outlook on Nicolet Bankshares, reducing the bank's price target to $82.50 and keeping a Neutral rating. Despite a mixed set of financial outcomes for the first quarter, the bank demonstrated strong core fee income, well-managed operating expenses, and favorable credit metrics. Piper Sandler also revised its EPS estimates for the bank for the years 2024 and 2025. These recent developments highlight the evolving financial landscape for Nicolet Bankshares.
InvestingPro Insights
Amid the recent insider trading activity at Nicolet Bankshares Inc. (NASDAQ:NIC), it's worth considering the current financial metrics and analyst insights provided by InvestingPro. The company's market capitalization stands at a robust $1.16 billion, and it trades at an adjusted price-to-earnings (P/E) ratio of 12.18 for the last twelve months as of Q1 2024. This relatively low P/E ratio, especially in light of near-term earnings growth, suggests that the stock could be undervalued, which aligns with an InvestingPro Tip highlighting the company's attractive valuation in this regard.
Despite concerns about weak gross profit margins, another InvestingPro Tip points out that analysts are optimistic about the company's profitability, forecasting Nicolet Bankshares to be in the black this year. This is supported by a notable revenue growth of 29.53% during the same period, indicating a positive trajectory for the company's financial performance. Additionally, the company has demonstrated a high return over the past decade, a testament to its long-term growth potential.
Investors considering Nicolet Bankshares Inc. may also be interested in the company's revenue growth, which surged by 156.33% in Q1 2024, and its solid operating income margin of 45.41% for the last twelve months as of Q1 2024. Such strong fundamentals could be a signal for potential shareholders evaluating the company's financial health and growth prospects.
For those seeking further insights and analysis, InvestingPro offers additional tips that could provide a deeper understanding of Nicolet Bankshares Inc.'s outlook. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription and access the full list of valuable InvestingPro Tips for a comprehensive investment strategy.
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