GREEN BAY, Wis.—Brad Vincent Hutjens, Executive Vice President and Chief Credit Officer at Nicolet National Bank, a subsidiary of Nicolet Bankshares (NASDAQ:NCBS) Inc. (NASDAQ:NIC (NASDAQ:EGOV)), sold shares of the company on November 26, according to a recent SEC filing. Hutjens sold a total of 146 shares of common stock, generating proceeds of $16,531. The sale prices ranged from $112.97 to $114.02 per share.
In addition to these sales, Hutjens also acquired 146 shares through a stock option exercise at a price of $48.85 per share, totaling $7,132. Following these transactions, Hutjens directly owns 29,593 shares of Nicolet Bankshares' common stock. Additionally, he holds 1,818 shares indirectly through a 401(k) plan.
These transactions were part of routine filings with the SEC and provide insight into the trading activities of Nicolet Bankshares' executive team.
In other recent news, Nicolet Bankshares announced strong third-quarter financial results, with a core earnings per share (EPS) of $1.98, surpassing the consensus estimate of $1.86. This performance was attributed to a wider net interest margin and strong credit quality. Following these results, Maxim (NASDAQ:MXIM) Group increased its price target for Nicolet Bankshares to $124, maintaining a Buy rating. The firm also revised its 2025 GAAP EPS estimate for the bank upward to $8.60, reflecting expectations of further rate cuts by the Federal Reserve.
In addition to its third-quarter success, Nicolet Bankshares also reported a robust 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, while maintaining an Equal Weight rating. The company's solid performance was attributed to an expanded net interest margin, a 2% increase in loan growth, and sustained strong credit quality.
Furthermore, Nicolet Bankshares demonstrated a significant recovery in deposit trends and a 14% year-over-year increase in Wealth Management fees. These are among the recent developments at Nicolet Bankshares.
InvestingPro Insights
Nicolet Bankshares Inc . (NASDAQ:NIC) has been showing strong performance, as evidenced by recent InvestingPro data and tips. The company's stock is trading near its 52-week high, with a robust 52.41% price total return over the past year. This aligns with the executive's decision to exercise stock options and sell a portion of shares, potentially capitalizing on the stock's strong performance.
InvestingPro data reveals that Nicolet Bankshares has a market capitalization of $1.71 billion and is trading at a P/E ratio of 12.8, which is relatively low compared to its earnings growth. This is further supported by an InvestingPro Tip indicating that the company is "Trading at a low P/E ratio relative to near-term earnings growth," suggesting potential undervaluation.
The company's financial health appears solid, with a revenue of $342.79 million in the last twelve months as of Q3 2024, representing a 28.93% growth. Additionally, Nicolet Bankshares boasts an impressive operating income margin of 46.8%, reflecting efficient operations.
For investors seeking more comprehensive analysis, InvestingPro offers 11 additional tips for Nicolet Bankshares, providing a deeper understanding of the company's financial position and market prospects.
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