GREEN BAY, Wis. — 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 a stock sale worth $110,975. According to a recent SEC filing, Hutjens sold 1,079 shares of common stock on October 25 at a price of $102.85 per share.
In addition to the sale, Hutjens exercised stock options to acquire 1,079 shares at a price of $48.85 each, totaling $52,709. Following these transactions, Hutjens holds 26,674 shares directly, along with 1,818 shares held indirectly through a 401(k) plan.
The filing also notes Hutjens' participation in the Employee Stock Purchase Plan, where he holds 732 shares. The stock options, which fully vested as of May 2022, remain exercisable, covering a total of 45,060 shares.
In other recent news, Nicolet Bankshares has been receiving updated stock price targets from various financial firms following the release of its third-quarter financial results. Maxim (NASDAQ:MXIM) Group raised its price target from $120 to $124, maintaining a Buy rating, after the bank reported 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.
Financial services firm Stephens also raised its price target for Nicolet Bankshares to $112, while maintaining an Equal Weight rating. This was in response to the bank's strong second-quarter performance, where operational earnings per share and pre-provision net revenue exceeded consensus estimates by approximately 9%. Piper Sandler, while maintaining a Neutral rating, increased its price target for Nicolet Bankshares to $104, citing a strong quarter with a 1.3% return on assets and a 16.8% return on tangible common equity.
These recent developments follow Nicolet Bankshares' robust performance in previous quarters, which was recognized by several financial firms. The bank's performance was attributed to an expanded net interest margin, a 2% increase in loan growth, and sustained strong credit quality. Additionally, Nicolet Bankshares demonstrated a significant recovery in deposit trends and a 14% year-over-year increase in Wealth Management fees.
InvestingPro Insights
Nicolet Bankshares Inc . (NASDAQ:NIC) has been showing strong financial performance, which aligns with the recent insider activity. According to InvestingPro data, the company's revenue growth stands at an impressive 28.93% over the last twelve months as of Q3 2024, with a robust operating income margin of 46.8%. This solid financial footing may have influenced the executive's decision to exercise options and sell shares.
The stock's recent performance has been noteworthy, with a 50.49% price total return over the past year. This aligns with an InvestingPro Tip indicating that NIC has seen a "high return over the last year." Additionally, the stock is trading near its 52-week high, with the current price at 97.97% of that peak, suggesting strong investor confidence.
Despite the recent sale by the executive, the company's valuation metrics remain attractive. NIC is trading at a P/E ratio of 12.69, which is relatively low compared to its growth prospects. This is reinforced by an InvestingPro Tip stating that the company is "trading at a low P/E ratio relative to near-term earnings growth."
For investors seeking more comprehensive analysis, InvestingPro offers 9 additional tips for Nicolet Bankshares Inc., providing a deeper understanding of the company's financial health and market position.
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