GREEN BAY, WI—Robert Bruce Atwell, a director at Nicolet Bankshares (NASDAQ:NCBS) Inc. (NASDAQ:NIC (NASDAQ:EGOV)), recently executed a series of stock transactions involving the company's common stock. On December 10, Atwell sold 7,609 shares at a price of $113.00 per share, totaling approximately $859,817. This transaction reduced his directly owned shares to 32,831 following the sale. The sale occurred as the stock trades near its 52-week high of $116.17, with InvestingPro analysis indicating the company is slightly undervalued at current levels.
In addition to the sale, Atwell acquired 7,609 shares through the exercise of stock options at a price of $48.85 per share, amounting to a total value of $371,699. These transactions reflect Atwell's active management of his holdings in Nicolet Bankshares, a national commercial bank headquartered in Green Bay, Wisconsin, which currently maintains a market capitalization of $1.68 billion and trades at a P/E ratio of 14.22. Following these trades, Atwell's direct ownership stands at 31,831 shares. InvestingPro subscribers can access 8 additional key insights about Nicolet Bankshares' financial health and growth prospects.
In other recent news, Nicolet Bankshares reported robust third-quarter earnings per share (EPS) of $1.98, surpassing the consensus estimate of $1.86. This positive performance was attributed to a wider net interest margin and a continuation of strong credit quality. Following these results, Maxim Group revised its 2025 GAAP EPS estimate for Nicolet Bankshares upward to $8.60 and increased its price target for the bank's shares to $124.00.
In other recent developments, Nicolet Bankshares had a strong performance in the second quarter of 2024, exceeding consensus estimates by approximately 9%. This led financial services firm Stephens to raise its price target for Nicolet to $112 and Maxim Group to increase its target to $120. Piper Sandler also revised its price target for Nicolet Bankshares to $104, citing a strong quarter.
These are some of the recent developments at Nicolet Bankshares, which has demonstrated a significant recovery in deposit trends and a 14% year-over-year increase in Wealth Management fees. The company also increased its dividend by 12% to $0.28 per share. The bank's strong performance and positive outlook appear to have reinforced confidence in its continued growth and profitability.
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