Brad Vincent Hutjens, Executive Vice President and Chief Credit Officer at Nicolet National Bank, part of Nicolet Bankshares (NASDAQ:NCBS) Inc. (NASDAQ:NIC (NASDAQ:EGOV)), recently executed significant stock transactions. On November 6, Hutjens sold a total of 13,500 shares of common stock in two separate transactions. The shares were sold at prices ranging from $105.85 to $106.85, amounting to approximately $1.44 million in total.
In addition to these sales, Hutjens exercised stock options to acquire 13,500 shares of Nicolet Bankshares at a price of $48.85 per share, with a total value of $659,475. Following these transactions, Hutjens retains direct ownership of 26,674 shares of the company’s common stock. He also holds 1,818 shares indirectly through a 401(k) 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. The better-than-expected results were attributed to a wider net interest margin and strong credit quality. Following the release of these results, Maxim Group increased its price target on Nicolet Bankshares to $124.00 and maintained a Buy rating.
In addition to Maxim Group, Stephens also raised its price target for Nicolet Bankshares to $112, while maintaining an Equal Weight rating. This adjustment followed Nicolet Bankshares' robust second quarter performance, with operational earnings per share and pre-provision net revenue exceeding consensus estimates by approximately 9%.
Furthermore, Nicolet Bankshares 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. These are some of the recent developments at Nicolet Bankshares.
InvestingPro Insights
The recent stock transactions by Brad Vincent Hutjens, Executive Vice President and Chief Credit Officer at Nicolet National Bank, come at a time when Nicolet Bankshares Inc . (NASDAQ:NIC) is showing strong market performance. According to InvestingPro data, the company has seen significant returns over various timeframes, with a 7.66% return in the past week, 18.46% over the last month, and an impressive 49.82% over the past year.
These robust returns align with several InvestingPro Tips. For instance, one tip notes that Nicolet Bankshares is "Trading at a low P/E ratio relative to near-term earnings growth," which is supported by the current P/E ratio of 12.8. This suggests that the stock may be undervalued compared to its earnings potential, potentially explaining the recent strong performance.
Another relevant InvestingPro Tip indicates that "4 analysts have revised their earnings upwards for the upcoming period," which could be a factor in the stock's recent price appreciation and may have influenced Hutjens' decision to exercise options and sell shares.
It's worth noting that Nicolet Bankshares has a market capitalization of $1.65 billion and has demonstrated solid financial performance with a revenue of $342.79 million in the last twelve months, representing a growth of 28.93%. The company also boasts a healthy operating income margin of 46.8%, indicating efficient operations.
For investors seeking more comprehensive analysis, InvestingPro offers additional tips and insights. In fact, there are 10 more InvestingPro Tips available for Nicolet Bankshares, providing a deeper understanding of the company's financial health and market position.
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