Brad Vincent Hutjens, Executive Vice President and Chief Credit Officer at Nicolet National Bank, sold 4,560 shares of Nicolet Bankshares (NASDAQ:NCBS) Inc. (NASDAQ:NIC (NASDAQ:EGOV)) on October 28, 2024. The shares were sold at a price of $102.85 each, amounting to a total transaction value of $468,996.
On the same day, Hutjens also acquired 4,560 shares through the exercise of stock options at a price of $48.85 per share. This acquisition was valued at $222,756. Following these transactions, Hutjens holds 26,674 shares directly and an additional 1,818 shares through a 401(k) plan.
The filing also notes that Hutjens has not acquired additional shares under the Employee Stock Purchase Plan since his last Form 4 filing. He currently owns 732 shares in the Employee Stock Purchase Plan.
In other recent news, Nicolet Bankshares reported strong third-quarter earnings with a core earnings per share (EPS) of $1.98, surpassing the consensus estimate of $1.86. This robust performance was attributed to a wider net interest margin and ongoing 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 from the previous target of $120.00, maintaining a Buy rating.
In other developments, Nicolet Bankshares had a strong second quarter, exceeding consensus estimates by about 9%. The operational earnings per share and pre-provision net revenue were particularly impressive, prompting Stephens to raise its price target for Nicolet to $112, while maintaining an Equal Weight rating. Additionally, Nicolet Bankshares demonstrated 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. Piper Sandler also increased its price target for Nicolet Bankshares to $104, maintaining a Neutral rating, citing a strong quarter with a 1.3% return on assets and a 16.8% return on tangible common equity. As a result of these developments, the company increased its dividend by 12% to $0.28 per share.
InvestingPro Insights
Nicolet Bankshares Inc . (NASDAQ:NIC) has been showing strong performance, as evidenced by recent insider transactions and market data. The company's stock is trading near its 52-week high, with a price that is 98.01% of its peak, reflecting investor confidence. This aligns with an InvestingPro Tip indicating a large price uptick over the last six months, with the stock showing a impressive 35.04% total return in that period.
The company's financial health appears robust, with a market capitalization of $1.55 billion and a P/E ratio of 12.69, suggesting it may be undervalued relative to its earnings potential. This is further supported by an InvestingPro Tip highlighting that NIC is trading at a low P/E ratio relative to its near-term earnings growth, which could be attractive for value investors.
Nicolet Bankshares has demonstrated strong profitability, with an operating income margin of 46.8% for the last twelve months as of Q3 2024. The company's revenue growth of 28.93% over the same period indicates solid business expansion. Additionally, NIC offers a dividend yield of 1.09%, with a 12% dividend growth rate, potentially appealing to income-focused investors.
For readers interested in a more comprehensive analysis, InvestingPro offers 8 additional tips for Nicolet Bankshares, providing deeper insights into the company's financial position and market performance.
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