Nicolet Bankshares, Inc. (NIC) AI Stock Analysis

Nicolet Bankshares, Inc. serves as the holding company for Nicolet National Bank, a financial institution established in 2000 and headquartered in Green Bay, Wisconsin. Operating through 52 branches across Wisconsin and Michigan, the bank provides banking products and services to businesses and individuals. Offerings include checking, savings, money market accounts, certificates of deposit, and individual retirement accounts. The company also delivers tailored lending solutions spanning commercial loans, commercial real estate financing, agricultural loans, construction financing, residential mortgages, and home equity lines of credit, alongside wealth management and retirement planning.

Between FY2021 and FY2025, revenue grew from $239.1M to $552.6M, representing a 5-year revenue CAGR of 21.0%. Net income rose from $60.7M in FY2021 to $150.7M in FY2025, with net margin improving from 25.4% to 27.3% over the same period. For FY2025, operating margin reached 33.8% and diluted EPS was $9.84. Over the trailing twelve months, revenue was $510.2M with a 52.9% operating margin and a 30.2% profit margin. In the latest quarter ended June 30, 2026, quarterly revenue growth was 86.1% year-over-year, while quarterly earnings growth was 12.0%.

As of June 30, 2026, Nicolet Bankshares held $153.5M in cash and short-term investments against total debt of $92.8M, resulting in net cash of $60.7M. Shareholders' equity stood at $2.27B against total assets of $15.41B, yielding a debt-to-equity ratio of 0.04. In FY2025, the company generated $153.5M in operating cash flow and $149.4M in free cash flow, deploying $4.1M toward capital expenditures, $89.3M toward share buybacks, and $18.7M toward dividends.

Nicolet Bankshares trades at a trailing P/E of 18.3x and a forward P/E of 14.8x, both above the median of its US-listed Financial Services peers of 12.1x and 10.8x, respectively. Its price-to-sales multiple of 6.7x also exceeds the peer median of 3.2x, while price-to-book stands at 1.5x. Over the past year, the stock returned 35.2%, outpacing the S&P 500 (SPY) return of 16.8%. Over five years, the stock gained 125.8% compared to 83.0% for the index.

Nicolet Bankshares pays an annual forward dividend of $1.36 per share, yielding 0.83% with a payout ratio of 12.2%. Dividends are distributed on a quarterly frequency and have been paid for 4 consecutive years. The company's last ex-dividend date was September 1, 2026.

Wall Street analysts hold 1 Strong Buy, 3 Buy, and 2 Hold ratings on the stock. The mean price target is $191.80, representing 17.1% upside from the last close of $163.80. For the current fiscal year ending December 31, 2026, consensus estimates project EPS of $12.05 (growth of 22.8%) on revenue of $536.9M. The company beat EPS estimates in each of the last 4 quarters, with its next earnings date scheduled for October 22, 2026.

This page is an AI-written research summary of Nicolet Bankshares, Inc. (NIC). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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