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GREEN BAY, Wis.—Robert Atwell, a director at Nicolet Bankshares (NASDAQ:NCBS) Inc. (NASDAQ:NIC (NASDAQ:EGOV)), has reported selling a significant portion of his holdings in the company. According to a recent filing with the Securities and Exchange Commission, Atwell sold 3,975 shares of common stock on February 12 at a weighted average price of $118.08 per share, totaling approximately $469,368. The transaction comes as Nicolet Bankshares, currently valued at $1.81 billion, trades near its 52-week high of $118.84, having delivered an impressive 61% return over the past year. InvestingPro analysis suggests the stock is slightly undervalued at current levels.
In addition to the stock sale, Atwell exercised stock options to acquire 20,000 shares at a price of $48.85 each, resulting in a total transaction value of $977,000. Furthermore, he disposed of 12,526 shares at a price of $118.38, valued at $1,482,827, to cover taxes related to the stock options. The company maintains healthy fundamentals with a moderate P/E ratio of 13.7, and InvestingPro subscribers can access 8 additional key insights about Nicolet’s financial health and growth prospects.
Following these transactions, Atwell’s direct ownership in Nicolet Bankshares stands at 30,317 shares. The transactions were part of routine financial management, as indicated in the filing.
In other recent news, Nicolet Bankshares has been the focus of several analyst firms following its strong operating earnings report. Keefe, Bruyette & Woods adjusted their price target for Nicolet Bankshares to $115, maintaining a Market Perform rating. This decision was influenced by the bank’s robust revenue growth from both spread and fee income, and favorable credit trends that allowed for a reduced provision for credit losses.
Simultaneously, Maxim Group increased their price target for Nicolet Bankshares to $131, reiterating a Buy rating. This adjustment came after Nicolet reported impressive fourth-quarter earnings that exceeded both consensus and Maxim Group’s expectations, which were attributed to an expansion in the net interest margin and exceptional credit quality.
Piper Sandler also adjusted its price target on Nicolet Bankshares, raising it to $120 while maintaining a Neutral rating. The firm cited Nicolet’s strong return on assets and return on tangible common equity in the fourth quarter, primarily due to an increase in net interest income. These recent developments underscore Nicolet Bankshares’ solid performance and the positive outlook held by several analyst firms.
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