NIC Stock Analysis: Nicolet Bankshares | NYSE
Banks - Regional | NYSE, USA | Market Cap: 3.566m USD | 12M Return: 27.1% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 40.5M
EPS Trend: 99.5%
Qual. Beats: 0
Rev. Trend: 62.7%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Nicolet Bankshares, Inc. (NYSE: NIC) is a bank holding company that operates Nicolet National Bank, headquartered in Green Bay, Wisconsin, serving businesses and individuals across Wisconsin, Michigan, and Minnesota. The company was incorporated in 2000 and adopted its current name in March 2002.
The company accepts a range of deposits, including demand, checking, savings, money market accounts, certificates of deposit, and IRAs. Its lending activities span commercial and industrial loans, commercial real estate, agricultural production and real estate loans, construction and land development loans, residential mortgages and home equity loans, and consumer loans. Beyond traditional banking, Nicolet offers cash management, international banking, personal brokerage, trust and fiduciary services, wealth management, retirement plan services, and crop insurance products, supported by digital channels such as online and mobile banking, automated bill payment, and remote deposit capture.
As a mid-cap regional bank, Nicolet operates a community banking model focused on relationship-driven lending and deposit gathering within the Upper Midwest. Regional banks of this type typically draw a meaningful portion of revenue from net interest income, with non-interest income coming from treasury management, wealth management, and fee-based services such as brokerage and card products.
- Net interest margin pressured by deposit cost increases amid Fed rate cuts
- Commercial real estate loan portfolio concentration raises credit quality concerns
- Wealth management and fee income growth diversifies revenue base
| Net Income: 154.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA -0.75 > 1.0 |
| NWC/Revenue: -2.70k% < 20% (prev -1.17k%; Δ -1.54k% < -1%) |
| CFO/TA 0.01 > 3% & CFO 128.0m > Net Income 154.2m |
| Net Debt (-18.6m) to EBITDA (208.5m): -0.09 < 3 |
| Current Ratio: 0.01 > 1.5 & < 3 |
| Outstanding Shares: last quarter (15.2m) vs 12m ago -1.32% < -2% |
| Gross Margin: 63.41% > 18% (prev 67.60%; Δ -4.18% > 0.5%) |
| Asset Turnover: 3.79% > 50% (prev 6.01%; Δ -2.22% > 0%) |
| Interest Coverage Ratio: 1.03 > 6 (EBIT TTM 193.5m / Interest Expense TTM 188.5m) |
| A: -0.81 (Total Current Assets 153.5m - Total Current Liabilities 12.6b) / Total Assets 15.4b |
| B: 0.05 (Retained Earnings 755.3m / Total Assets 15.4b) |
| C: 0.02 (EBIT TTM 193.5m / Avg Total Assets 12.2b) |
| D: 0.17 (Book Value of Equity 2.27b / Total Liabilities 13.1b) |
| Altman-Z'' = -4.86 = D |
As of July 28, 2026, the stock is trading at USD 168.16 with a total of 271,357 shares traded. Over the past week, the price has changed by +0.68%, over one month by +3.22%, over three months by +13.66% and over the past year by +27.09%.
Current recommended Stop Loss: 158.30 (which is 5.9% or 2.2 ATR below the current price).
Nicolet Bankshares has received a consensus analysts rating of 3.60. Therefore, it is recommended to hold NIC.
- StrongBuy: 1
- Buy: 1
- Hold: 3
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 180 | 7% |
P/E Trailing = 19.7156
P/E Forward = 14.8368
P/S = 6.9884
P/B = 1.5811
P/EG = 1.921
Revenue TTM = 461.2m USD
EBIT TTM = 193.5m USD
EBITDA TTM = 208.5m USD
Long Term Debt = 134.9m USD (from longTermDebt, last fiscal year)
Short Term Debt = unknown (none)
Debt = 134.9m USD (corrected: LT Debt 134.9m + ST Debt none)
Net Debt = -18.6m USD (calculated: Debt 134.9m - CCE 153.5m)
Enterprise Value = 3.55b USD (3.57b + Debt 134.9m - CCE 153.5m)
Interest Coverage Ratio = 1.03 (Ebit TTM 193.5m / Interest Expense TTM 188.5m)
EV/FCF = 28.79x (Enterprise Value 3.55b / FCF TTM 123.2m)
FCF Yield = 3.47% (FCF TTM 123.2m / Enterprise Value 3.55b)
FCF Margin = 26.71% (FCF TTM 123.2m / Revenue TTM 461.2m)
Net Margin = 33.43% (Net Income TTM 154.2m / Revenue TTM 461.2m)
Gross Margin = 63.41% ((Revenue TTM 461.2m - Cost of Revenue TTM 168.7m) / Revenue TTM)
Gross Margin QoQ = none% (prev 46.44%)
Tobins Q-Ratio = 0.23 (Enterprise Value 3.55b / Total Assets 15.4b)
Interest Expense / Debt = 139.8% (Interest Expense 188.5m / Debt 134.9m)
Taxrate = 20.35% (39.4m / 193.5m)
NOPAT = 154.2m (EBIT 193.5m * (1 - 20.35%))
Current Ratio = 0.01 (Total Current Assets 153.5m / Total Current Liabilities 12.6b)
Debt / Equity = 0.06 (Debt 134.9m / totalStockholderEquity, last quarter 2.27b)
Debt / EBITDA = -0.09 (Net Debt -18.6m / EBITDA 208.5m)
Debt / FCF = -0.15 (Net Debt -18.6m / FCF TTM 123.2m)
Total Stockholder Equity = 1.75b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.27% (Net Income 154.2m / Total Assets 15.4b)
RoE = 8.81% (Net Income TTM 154.2m / Total Stockholder Equity 1.75b)
RoCE = 10.27% (EBIT 193.5m / Capital Employed (Equity 1.75b + L.T.Debt 134.9m))
RoIC = 1.00% (NOPAT 154.2m / Invested Capital 15.4b)
WACC = 7.67% (E(3.57b)/V(3.70b) * Re(7.96%) + (debt cost/tax rate unavailable))
Discount Rate = 7.96% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -31.73 | Cagr: -0.06%
[DCF] Terminal Value 73.79% ; FCFF base≈129.3m ; Y1≈117.8m ; Y5≈102.7m
[DCF] Fair Price = 77.69 (EV 1.63b - Net Debt -18.6m = Equity 1.65b / Shares 21.3m; r=8.35% [WACC [floored]]; 5y FCF grow -11.05% → 2.50% )
EPS Correlation: 99.47 | EPS CAGR: 23.86% | SUE: 0.50 | # QB: 0
Revenue Correlation: 62.75 | Revenue CAGR: 7.89% | SUE: -0.69 | # QB: 0
EPS current Quarter (2026-09-30): EPS=3.08 | Chg30d=-0.24% | Revisions=-57% | Analysts=2
EPS current Year (2026-12-31): EPS=12.04 | Chg30d=+1.16% | Revisions=-57% | GrowthEPS=+22.6% | GrowthRev=+74.3%
EPS next Year (2027-12-31): EPS=13.26 | Chg30d=-0.20% | Revisions=-57% | GrowthEPS=+10.2% | GrowthRev=+7.7%
[Analyst] Revisions Ratio: -80% (up=0, down=12)