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GREEN BAY, Wis.—Robert Bruce Atwell, a director at Nicolet Bankshares (NASDAQ:NCBS) Inc. (NASDAQ:NIC (NASDAQ:EGOV)), a $1.69 billion regional bank that has delivered a 33.75% return over the past year, has recently sold shares of the company’s common stock. According to InvestingPro analysis, the company currently trades at an attractive P/E ratio of 13.7 and maintains a "GREAT" financial health score. According to a recent filing, Atwell disposed of 150 shares at a price of $110.05 each, amounting to a total transaction value of $16,507. Following this transaction, Atwell holds no remaining shares in the account involved in this sale, which was noted to be his son’s UTMA account.
Post-transaction, Atwell continues to hold 30,317 shares directly and 296.782 shares indirectly through the Nicolet National Bank Deferred Compensation Plan for Non-employee Directors. This sale was conducted on January 29, 2025, and the filing was made public on January 30, 2025.
In other recent news, Nicolet Bankshares has been the subject of several target price adjustments following robust fourth-quarter 2024 earnings that exceeded expectations. Keefe, Bruyette & Woods lifted their price target to $115, maintaining a Market Perform rating, after the bank reported operating earnings of $2.17 per share due to strong revenue growth. The bank’s loan and deposit growth matched and exceeded forecasts, respectively, and favorable credit trends allowed for a reduced provision for credit losses.
Analysts at Maxim Group also raised their price target for Nicolet Bankshares to $131, citing the bank’s operational strength and strategic acquisitions. They revised their 2025 GAAP EPS estimate for Nicolet upward to $9.00, based on the recent performance and an anticipated wider net interest margin.
Piper Sandler increased its price target for Nicolet to $120, maintaining a Neutral rating. The bank’s strong performance was attributed to an increase in net interest income, and the bank reported mid-to-high single-digit annualized growth in both loans and core deposits. Piper Sandler’s analyst highlighted the bank’s potential for future mergers and acquisitions, and the possibility to increase capital returns to shareholders. These recent developments reflect the bank’s strong financial performance and future prospects.
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