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)), recently reported significant transactions involving the company's common stock. According to the latest filings, Hutjens executed a series of stock sales and acquisitions over two days in late November.
On November 22 and 25, Hutjens sold a total of 7,154 shares of Nicolet Bankshares common stock. The sale prices ranged from $112.85 to $115.89 per share, resulting in a total transaction value of approximately $834,184. Following these sales, Hutjens retains direct ownership of 29,593 shares.
In addition to the sales, Hutjens exercised stock options to acquire 7,354 shares at a price of $48.85 per share, totaling $359,242. These transactions reflect Hutjens' ongoing management of his equity holdings in the company.
Investors often closely monitor such insider transactions for potential insights into the executive's perspective on the company's valuation and future prospects.
In other recent news, Nicolet Bankshares has been making strides with its financial performance. The company's third-quarter results showcased a core earnings per share (EPS) of $1.98, surpassing the consensus estimate of $1.86. This strong performance was linked to a wider net interest margin and robust credit quality. Following these results, Maxim (NASDAQ:MXIM) Group raised its price target for Nicolet Bankshares to $124, while maintaining a Buy rating.
In addition, Nicolet Bankshares demonstrated a significant recovery in deposit trends and a 14% year-over-year increase in Wealth Management fees. The company's performance prompted an increase in its dividend by 12% to $0.28 per share. Furthermore, analysts from Stephens and Piper Sandler have also revised their price targets for the company, following its robust performance.
These are some of the recent developments at Nicolet Bankshares, highlighting the company's financial strength and growth potential. Despite these positive updates, it is important to remember that these are analysts' forecasts and actual results may vary.
InvestingPro Insights
The recent insider transactions by Brad Vincent Hutjens at Nicolet Bankshares Inc . (NASDAQ:NIC) take on added significance when viewed alongside the company's current financial metrics and market performance.
According to InvestingPro data, Nicolet Bankshares boasts a market capitalization of $1.7 billion and is trading at a P/E ratio of 12.8, which is relatively low compared to its earnings growth. This valuation metric aligns with one of the InvestingPro Tips, suggesting that NIC is "Trading at a low P/E ratio relative to near-term earnings growth."
The company's stock has shown remarkable strength, with a one-year price total return of 51.55% as of the latest data. This performance is reflected in another InvestingPro Tip, which notes a "High return over the last year." Additionally, the stock is currently trading at 97.29% of its 52-week high, indicating sustained investor confidence.
Nicolet Bankshares has demonstrated solid financial performance, with revenue growth of 28.93% over the last twelve months and an impressive operating income margin of 46.8%. These figures suggest a robust business model and effective cost management.
For investors seeking more comprehensive analysis, InvestingPro offers 10 additional tips for Nicolet Bankshares, providing a deeper understanding of the company's financial health and market position. These insights could be particularly valuable in contextualizing the insider transactions reported by Hutjens.
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