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Robert Bruce Atwell, a director at Nicolet Bankshares (NASDAQ:NCBS) Inc. (NASDAQ:NIC (NASDAQ:EGOV)), has recently sold a portion of his holdings in the company. According to a Form 4 filed with the Securities and Exchange Commission, Atwell sold 3,102 shares of common stock on February 24, 2025. The shares were sold at a weighted average price of $117.651, resulting in a total transaction value of approximately $364,953. The transaction occurred near the stock’s 52-week high of $120.25, with the company’s shares showing impressive momentum, delivering a 53.86% return over the past year. InvestingPro analysis suggests the stock is currently trading slightly below its Fair Value.
In addition to this sale, Atwell also executed other transactions on the same day. He acquired 10,000 shares through the exercise of stock options at a price of $48.85 per share, totaling $488,500. Additionally, he disposed of 6,898 shares to cover tax obligations, valued at $812,584, at a price of $117.80 per share. The company, currently valued at $1.81 billion, trades at a P/E ratio of 13.69. Discover more valuable insights about NIC’s valuation metrics and 8 additional key ProTips with InvestingPro.
Following these transactions, Atwell’s direct ownership in Nicolet Bankshares stands at 33,816 shares. There is also an indirect holding of 296.782 shares through the Nicolet National Bank Deferred Compensation Plan for Non-employee Directors.
In other recent news, Nicolet Bankshares reported strong financial results, which have led to several analyst firms adjusting their price targets for the company. Nicolet Bankshares announced fourth-quarter earnings per share (EPS) of $2.19, surpassing consensus estimates of $1.97. This performance was largely due to an expansion in net interest margin and excellent credit quality. Following these results, Maxim Group raised its price target for Nicolet Bankshares to $131, maintaining a Buy rating, and revised its 2025 GAAP EPS estimate upward to $9.00.
Keefe, Bruyette & Woods also adjusted its price target, increasing it to $115 while retaining a Market Perform rating. The firm noted Nicolet’s robust revenue growth and favorable credit trends as key factors. Piper Sandler raised its price target slightly to $120, citing strong returns on assets and equity, and highlighting Nicolet’s potential for strategic mergers and acquisitions. The firm’s analyst emphasized Nicolet’s superior profitability profile and ability to drive organic growth. These developments reflect a positive outlook from analysts, with expectations of continued financial strength and strategic growth for Nicolet Bankshares.
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