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Green Bay, WI – Michael E. Daniels, the Chairman, President, and CEO of Nicolet Bankshares Inc . (NASDAQ:NCBS), has recently sold a significant portion of his stock in the company. According to the latest filings, Daniels sold shares totaling over $920,000.
The transactions, which took place on the 28th and 29th of August, involved selling a total of 9,324 shares of Nicolet Bankshares common stock. The shares were sold at weighted average prices ranging from $98.85 to $99.12, with the total proceeds from the sales amounting to approximately $922,780.
In addition to the sales, Daniels also acquired shares through the exercise of options on both days. On the 28th of August, 1,321 shares were acquired at a price of $48.85 per share, and on the following day, an additional 8,003 shares were acquired at the same price. The total value for these option exercises amounted to $455,477.
Following these transactions, Daniels' direct ownership in the company has been adjusted, but he continues to hold a substantial number of shares. The filings also noted that Daniels has indirect ownership through a 401(k) plan and by his spouse, totaling 16,055 shares.
Investors often monitor insider transactions as they can provide insights into executives' confidence in the company's performance and outlook. The sale reported by Daniels is part of the regular financial activities that insiders engage in, and it is not uncommon for executives to sell shares for personal financial management reasons.
For more detailed information, shareholders and interested parties may request full details of the sales transactions within the price ranges noted in the filings.
Nicolet Bankshares Inc. is a financial institution headquartered in Green Bay, Wisconsin, and these latest transactions are part of the ongoing financial disclosures required by company executives.
"In other recent news, Nicolet Bankshares has been in the spotlight for its strong second-quarter earnings and revenue results. The company reported a core earnings per share (EPS) of $1.89, surpassing both the consensus estimate of $1.66 and Maxim Group's forecast of $1.69. This performance was attributed to an expanded net interest margin, a 2% increase in loan growth, and strong credit quality. In light of these impressive results, Maxim Group increased Nicolet Bankshares' price target to $120, while maintaining a Buy rating.
Other recent developments include a 12% increase in Nicolet Bankshares' dividend, now set at $0.28 per share, reflecting the company's commitment to returning capital to its investors. Furthermore, Stephens, Piper Sandler, and Keefe, Bruyette & Woods have all updated their ratings and price targets for the company, based on its strong financial performance.
Nicolet Bankshares' robust balance sheet expansion, net interest margin performance, and controlled operating expenses were noted as key drivers behind the positive second-quarter results. The company also reported a 14% year-over-year increase in Wealth Management fees. These are some of the recent developments from Nicolet Bankshares, demonstrating the company's strategic efforts to enhance shareholder value."
InvestingPro Insights
Amidst the recent insider transactions at Nicolet Bankshares Inc. (NASDAQ:NCBS), investors are keen to understand the financial health and prospects of the company. According to InvestingPro data, Nicolet Bankshares boasts a market capitalization of $1.47 billion, underscoring its substantial presence within the financial sector. With a P/E ratio of 12.85 and an adjusted P/E ratio for the last twelve months as of Q2 2024 at 14.02, the company trades at a valuation that suggests profitability relative to its earnings.
InvestingPro Tips indicate that analysts have recently revised their earnings expectations upwards for the upcoming period, reflecting optimism in Nicolet Bankshares' financial trajectory. Moreover, the company has demonstrated a robust return over the last three months, with a 25.7% price total return, which aligns with a strong performance over the past decade. This positive sentiment is further cemented by predictions from analysts that the company will remain profitable this year.
Despite concerns about weak gross profit margins, Nicolet Bankshares has maintained profitability over the last twelve months. The company's revenue growth has been impressive, reporting a 29.2% increase in the last twelve months as of Q2 2024. These metrics not only provide a snapshot of the company's current financial performance but also offer a glimpse into its potential for sustained growth.
For those looking to delve deeper into Nicolet Bankshares' financials and future prospects, InvestingPro offers additional insights and tips. Currently, there are several more tips available on InvestingPro, providing a comprehensive analysis for informed investment decisions. Visit https://www.investing.com/pro/NCBS for a deeper dive into Nicolet Bankshares Inc. and to access the full range of InvestingPro Tips.
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