GREEN BAY, WI—Eric James Witczak, Executive Vice President and Secretary of Nicolet Bankshares (NASDAQ:NCBS) Inc. (NASDAQ:NIC (NASDAQ:EGOV)), recently reported a significant transaction involving the company's stock. According to a recent SEC filing, Witczak sold a total of 33,657 shares of Nicolet Bankshares common stock, generating approximately $3.7 million. The shares were sold at prices ranging from $110.00 to $111.41.
In addition to the sales, Witczak exercised stock options to acquire 33,657 shares at $48.85 per share, amounting to a total of $1,644,144. Following these transactions, Witczak holds 25,530 shares directly and an additional 6,783 shares indirectly through a 401(k) plan.
These transactions were part of Witczak's ongoing management of his stock holdings in the company. Nicolet Bankshares, headquartered in Green Bay, Wisconsin, operates as a national commercial bank.
In other recent news, Nicolet Bankshares has been in the spotlight following the release of its third-quarter financial results, which outperformed expectations. The bank reported a core earnings per share (EPS) of $1.98, exceeding the consensus estimate of $1.86. This success was credited to an expanded net interest margin and strong credit quality.
Following these results, Maxim (NASDAQ:MXIM) Group raised its price target for Nicolet Bankshares to $124, up from $120, while maintaining a Buy rating. The firm also revised its 2025 GAAP EPS estimate for Nicolet Bankshares upward to $8.60, reflecting expectations of further rate cuts by the Federal Reserve.
In addition, Nicolet Bankshares has seen an increase in its price target from Stephens, which raised it to $112 while maintaining an Equal Weight rating. The bank's strong performance in the second quarter of 2024, where operational earnings per share (EPS) and pre-provision net revenue (PPNR) exceeded consensus estimates by approximately 9%, was a contributing factor.
Lastly, Nicolet Bankshares increased its dividend by 12% to $0.28 per share. These are some of the recent developments at Nicolet Bankshares.
InvestingPro Insights
Recent data from InvestingPro sheds additional light on Nicolet Bankshares' financial performance and market position. The company's market capitalization stands at $1.65 billion, reflecting its solid presence in the banking sector. Nicolet Bankshares boasts a P/E ratio of 12.8, suggesting it may be undervalued compared to its peers.
One of the key InvestingPro Tips highlights that Nicolet Bankshares is trading at a low P/E ratio relative to its near-term earnings growth. This aligns with the company's impressive revenue growth of 28.93% over the last twelve months, indicating strong financial performance.
Another notable InvestingPro Tip points out that Nicolet Bankshares has seen a significant return over the last week, with a 7.66% price total return. This recent uptick in stock price may be related to the insider transaction reported in the article, potentially signaling positive sentiment among company executives.
For investors seeking a deeper understanding of Nicolet Bankshares' financial health and market potential, InvestingPro offers 10 additional tips, providing a comprehensive analysis of the company's prospects.
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