Eric James Witczak, Executive Vice President and Secretary of Nicolet Bankshares (NASDAQ:NCBS) Inc. (NASDAQ:NIC (NASDAQ:EGOV)), recently reported significant stock transactions involving the company's common stock. On November 11, Witczak sold a total of 20,343 shares, generating approximately $2.3 million. The shares were sold at prices ranging from $112.22 to $114.00 per share.
In addition to the sales, Witczak also exercised stock options to acquire 20,343 shares at $48.85 per share, valued at $993,755. Following these transactions, Witczak holds 25,530 shares directly and an additional 6,783 shares indirectly through a 401(k) plan.
These transactions provide insight into the executive's current holdings and stock activity within Nicolet Bankshares, which is based in Green Bay, Wisconsin.
In other recent news, Nicolet Bankshares reported robust third-quarter earnings, surpassing both consensus and Maxim Group's estimates with a core earnings per share (EPS) of $1.98. This strong performance was attributed to a wider net interest margin and strong credit quality. In light of these results, Maxim Group raised its price target on Nicolet Bankshares to $124, maintaining a Buy rating.
Stephens, another financial services firm, also recognized Nicolet Bankshares' strong performance, raising its price target to $112 while retaining an Equal Weight rating. The firm highlighted Nicolet's ability to expand market share and a potential boost in its net interest margin due to the repricing of fixed-rate loans.
Piper Sandler, while maintaining a Neutral rating, increased its price target for Nicolet Bankshares to $104, citing a strong quarter. The company also reported a significant recovery in deposit trends and a 14% year-over-year increase in Wealth Management fees. These are some of the recent developments at Nicolet Bankshares.
InvestingPro Insights
The recent stock transactions by Eric James Witczak, Executive Vice President and Secretary of Nicolet Bankshares Inc . (NASDAQ:NIC), align with several key financial indicators and market trends for the company. According to InvestingPro data, Nicolet Bankshares has a market capitalization of $1.72 billion and is trading at a P/E ratio of 12.8, which is relatively low compared to its earnings growth potential.
InvestingPro Tips highlight that Nicolet Bankshares has shown strong performance, with a high return over the last year and is currently trading near its 52-week high. The stock has demonstrated robust returns over the past month and three months, indicating positive momentum. This aligns with Witczak's decision to exercise options and sell shares, potentially capitalizing on the stock's recent strength.
Furthermore, the company's revenue growth of 28.93% over the last twelve months and an impressive operating income margin of 46.8% suggest solid financial performance. These metrics may have contributed to the stock's attractiveness and could explain the timing of the executive's transactions.
It's worth noting that InvestingPro offers 11 additional tips for Nicolet Bankshares, providing investors with a more comprehensive analysis of the company's financial health and market position. For those interested in a deeper dive into NIC's prospects, exploring these additional insights could prove valuable in understanding the full picture behind executive trading activities and overall company performance.
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