Nicolet Bankshares (NIC) AI Stock Analysis

• Market Cap: $2.05B
• Dividend Yield: 0.88%
• Average Volume (3M): 68.01K
• Price to Earnings (P/E): 15.9
• Beta (1Y): 0.85
• Revenue Growth: 8.38%
• EPS Growth: 26.81%
• Country: US
• Employees: 952
• Sector: Financial
• Sector Strength: 78
• Industry: Banks - Regional
• EPS (TTM): 2.35
• Shares Outstanding: 14,856,888
• 10 Day Avg. Volume: 61,190
• 30 Day Avg. Volume: 68,006
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 0.93
• Enterprise Value/Revenue: 3.63
• Enterprise Value/Gross Profit: 5.43
• Enterprise Value/Ebitda: 10.79
• 1Y Price Target: $139.67
• Price Target Upside: 2.34% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3

• Rating: 78 Outperform
• Price Target: $149.00 ▲(9.17% Upside)

Nicolet Bankshares' strong financial performance and positive corporate events are the most significant factors driving the score. Technical analysis supports a stable outlook, while valuation metrics indicate fair pricing. The absence of earnings call data does not impact the overall assessment.

Positive Factors

Acquisitions

The company has a strong record of accretive acquisitions, which has significantly expanded its assets and geographic reach.

Dividend

NIC announced a 14% increase in the quarterly dividend, contributing to a projected total return of about 19%.

Earnings

NIC reported strong EPS results, outperforming consensus estimates due to solid loan growth, wider net interest margin, and very strong credit quality.

Negative Factors

Valuation

The 2025 price target of $131 represents a premium valuation based on NIC's accretive acquisition history and current trading position.

Nicolet Bankshares Business Overview & Revenue Model

Company Description

Nicolet Bankshares (NIC) is a financial holding company based in Wisconsin that operates through its primary subsidiary, Nicolet National Bank. The company provides a wide range of banking and financial services, including personal and commercial banking, mortgage lending, and wealth management services. Nicolet Bankshares focuses on serving individual consumers, small to medium-sized businesses, and institutional clients in its core markets.

How the Company Makes Money

Nicolet Bankshares generates revenue primarily through interest income from various lending activities, including commercial loans, personal loans, and mortgages. The company earns interest on the loans it extends to customers, which constitutes a significant portion of its overall revenue. Additionally, Nicolet Bankshares benefits from non-interest income sources, such as fees and commissions from account services, wealth management, and investment advisory services. The bank also engages in deposit gathering, providing checking and savings accounts that attract customer deposits, which are then used to fund loans. Significant partnerships with local businesses and community organizations enhance its market presence and customer base, contributing positively to its earnings.

Nicolet Bankshares Financial Statement Overview

Summary

Nicolet Bankshares presents a strong financial position with consistent revenue and profit growth, efficient operations, and effective cash flow management. The company maintains a solid balance sheet with prudent leverage and high equity ratios, underscoring financial stability. Despite minor opportunities for reducing liabilities, the overall financial health is commendable.

Income Statement

Nicolet Bankshares has demonstrated strong revenue and profit growth over the analyzed periods. The gross profit margin has remained robust, indicating efficient management of costs relative to revenue. The TTM (Trailing-Twelve-Months) shows a healthy EBIT and EBITDA margin, reflecting operational efficiency and strong earnings before interest and taxes. Net profit margins are solid, indicating effective cost control and profitability.

Balance Sheet

The balance sheet is strong with a favorable debt-to-equity ratio, suggesting a conservative approach to leverage. The company maintains a healthy equity ratio, indicating a solid portion of assets financed by equity. Return on equity is impressive, showing effective utilization of shareholder funds to generate profits. The balance sheet reflects financial stability, but there is room for improvement in reducing liabilities further.

Cash Flow

Cash flow metrics are positive with significant free cash flow growth, highlighting the company's capacity to generate cash after capital expenditures. The operating cash flow to net income ratio is favorable, showing that earnings are well-supported by cash flows. The free cash flow to net income ratio also indicates strong cash generation relative to profits. Overall, cash flow management appears robust and sustainable.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	519.42M	416.85M	332.07M	239.05M	213.10M
Gross Profit	345.27M	272.86M	286.62M	210.55M	182.93M
EBITDA	172.08M	105.03M	147.67M	94.98M	91.63M
Net Income	124.06M	61.52M	94.26M	60.65M	60.12M
Balance Sheet
Total Assets	8.80B	8.47B	8.76B	7.70B	4.55B
Cash, Cash Equivalents and Short-Term Investments	975.76M	1.29B	1.08B	1.54B	1.37B
Total Debt	161.39M	166.93M	542.34M	216.91M	53.87M
Total Liabilities	7.62B	7.43B	7.79B	6.80B	4.01B
Stockholders Equity	1.17B	1.04B	972.53M	891.89M	539.19M
Cash Flow
Free Cash Flow	117.23M	89.77M	105.16M	84.86M	68.11M
Operating Cash Flow	133.75M	107.97M	117.40M	97.65M	78.90M
Investing Cash Flow	-288.44M	591.46M	-516.36M	-370.60M	-208.70M
Financing Cash Flow	199.30M	-362.73M	-41.60M	65.38M	750.60M

Nicolet Bankshares Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 136.48
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NIC, the sentiment is Positive. The current price of 136.48 is above the 20-day moving average (MA) of 131.82, above the 50-day MA of 130.66, and above the 200-day MA of 117.12, indicating a bullish trend. The MACD of 2.26 indicates Negative momentum. The RSI at 59.11 is Neutral, neither overbought nor oversold. The STOCH value of 74.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NIC.

Nicolet Bankshares Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
OFG	78 Outperform	$1.99B	10.55	15.20%	2.46%	4.15%	4.39%
NIC	78 Outperform	$2.05B	15.87	11.89%	0.88%	8.38%	26.81%
CASH	75 Outperform	$1.90B	10.52	22.79%	0.25%	3.78%	14.13%
CHCO	74 Outperform	$1.86B	15.48	16.70%	2.46%	8.28%	6.96%
FBNC	74 Outperform	$2.26B	23.26	6.53%	1.63%	-2.04%	-14.82%
Sector *	68 Neutral	$17.95B	11.54	10.27%	3.74%	9.64%	1.17%
MBIN	67 Neutral	$1.49B	7.12	12.43%	1.17%	3.49%	-30.76%

Nicolet Bankshares Corporate Events

Nicolet Bankshares Declares Quarterly Cash Dividend

On August 19, 2025, Nicolet Bankshares, Inc. declared a quarterly cash dividend of $0.32 per share on its common stock, payable on September 15, 2025, to shareholders of record as of September 2, 2025. This announcement reflects Nicolet’s ongoing commitment to providing value to its shareholders and may enhance its attractiveness in the financial market.

Nicolet Bankshares Announces Increased Quarterly Dividend

At the annual meeting on May 19, 2025, Nicolet Bankshares‘ shareholders voted on several proposals, including the election of directors and ratification of the selection of Forvis Mazars, LLP as the independent public accounting firm for the fiscal year ending December 31, 2025. Additionally, on May 20, 2025, Nicolet announced a quarterly cash dividend of $0.32 per share, marking a 14% increase over the previous quarter, payable on June 13, 2025, to shareholders of record as of June 2, 2025.