Nicolet Bankshares, Inc. (NIC) Stock Analysis
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Nicolet Bankshares, Inc. (NIC) trades at $168.91 with AI Score 86/100 (Grade A+). Nicolet Bankshares, Inc. is a bank holding company operating through Nicolet National Bank. Market cap: $2.92B, Sector: Financial services.
Price as of Jul 23, 2026 · Last analyzed: May 10, 2026NIC stock analysis for 2026: Analysts have set a consensus price target of $174.00 for Nicolet Bankshares, Inc., suggesting 3.0% upside from the current price of $168.91. The AI MoonshotScore is 86/100, indicating a strong bullish outlook. Key factors: analyst coverage, AI-driven quantitative scoring.
NIC: 2/3 scored disciplines lean bullish. Dominant signal: Izzy Englander bullish.
How is this calculated? →Why this analysis is different
- A sector-relative MoonshotScore — five pillars (business quality, financial safety, valuation, growth durability, momentum) re-ranked nightly against the full universe of US-listed common stocks.
- An AI Council read across up to eight perspectives — value, macro, quantitative, and momentum lenses — that shows where they disagree instead of averaging the tension away.
- Figures come straight from FMP and Yahoo Finance filings data. The AI writes the narrative around the numbers — it never edits the numbers.
Nicolet Bankshares, Inc. (NIC) Financial Services Profile
Nicolet Bankshares, Inc., through Nicolet National Bank, delivers comprehensive banking solutions to businesses and individuals across Wisconsin and Michigan. With a focus on commercial and retail banking, wealth management, and trust services, the company leverages its regional presence and diverse product offerings to maintain a competitive edge in the financial services sector.
What Is the Investment Thesis for NIC?
Nicolet Bankshares, Inc. presents a compelling investment case based on its strong regional presence, diverse service offerings, and consistent profitability. With a market capitalization of $2.92B and a P/E ratio of 15.5, the company exhibits a solid financial foundation. A profit margin of 25.4% and a gross margin of 65.6% indicate efficient operations. Key growth catalysts include expansion of its digital banking services and strategic acquisitions within the Wisconsin and Michigan markets. However, potential risks include exposure to regional economic fluctuations and increasing competition from larger national banks and fintech companies. The company's beta of 0.74 suggests lower volatility compared to the broader market. The dividend yield of 0.87% provides a modest income stream for investors. Successful execution of its growth strategies and effective risk management are crucial for sustained value creation.
Based on FMP financials and quantitative analysis
NIC Key Highlights
- Market capitalization of $2.92B, reflecting substantial investor confidence.
- P/E ratio of 15.5, indicating a reasonable valuation compared to earnings.
- Profit margin of 25.4%, showcasing strong operational efficiency.
- Gross margin of 65.6%, demonstrating effective cost management.
- Operates 52 branches throughout Wisconsin and Michigan as of December 31, 2021, providing a strong regional presence.
Who Are NIC's Competitors?
NIC is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| PNFP Pinnacle Financial Partners, Inc. | $99.81 | +2.52% | $15.1B | 72 |
| OZK Bank OZK | $50.97 | +0.37% | $5.56B | 93 |
| TRMK Trustmark Corporation | $46.12 | -0.32% | $2.70B | 92 |
| NBTB NBT Bancorp Inc. | $51.32 | -0.79% | $2.67B | 94 |
| BUSE First Busey Corporation | $29.56 | -0.14% | $2.50B | 92 |
| MCHB Mechanics Bank | $15.94 | +0.19% | $3.51B | 93 |
| FFBC First Financial Bancorp. | $33.79 | -0.50% | $3.55B | 97 |
| WSBC WesBanco, Inc. | $39.88 | -2.53% | $3.84B | 97 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are NIC's Key Strengths?
- Strong regional presence in Wisconsin and Michigan.
- Diverse range of banking products and services.
- Experienced management team.
- Solid financial performance with healthy profit margins.
What Are NIC's Weaknesses?
- Limited geographic diversification.
- Reliance on regional economic conditions.
- Smaller scale compared to larger national banks.
- Vulnerability to interest rate fluctuations.
What Could Drive NIC Stock Higher?
- Expansion of digital banking platform to attract and retain customers.
- Potential acquisitions of smaller community banks in Wisconsin and Michigan.
- Growth in wealth management services driving fee-based income.
- Increased commercial lending activity supporting loan growth.
What Are the Key Risks for NIC?
- Financial-distress signal — its Altman Z-Score of 0.28 sits in the distress zone (elevated bankruptcy risk).
- Economic downturn in Wisconsin and Michigan impacting loan quality.
- Increasing competition from larger national banks and fintech companies.
- Regulatory changes increasing compliance costs.
- Cybersecurity threats and data breaches compromising customer data.
What Are the Growth Opportunities for NIC?
- Expansion of Digital Banking Services: Nicolet can capitalize on the growing demand for digital banking solutions by enhancing its online and mobile platforms. Investing in user-friendly interfaces, secure transaction capabilities, and personalized financial advice can attract and retain tech-savvy customers. The digital banking market is projected to reach $9 trillion in transaction value by 2028, presenting a significant growth opportunity for Nicolet.
- Strategic Acquisitions: Pursuing strategic acquisitions of smaller community banks and credit unions within Wisconsin and Michigan can expand Nicolet's market share and geographic footprint. Integrating acquired entities can lead to cost synergies and revenue enhancements. The M&A activity in the regional banking sector is expected to remain robust, providing opportunities for Nicolet to grow through inorganic means.
- Enhancement of Wealth Management Services: Expanding wealth management services to cater to high-net-worth individuals and families can generate fee-based income and diversify revenue streams. Offering personalized investment advice, retirement planning, and estate planning services can attract affluent clients. The wealth management market is projected to grow at a rate of 7% annually, driven by increasing wealth accumulation.
- Focus on Commercial Lending: Increasing focus on commercial lending to small and medium-sized businesses (SMBs) can drive loan growth and enhance profitability. Offering tailored financing solutions, such as term loans, lines of credit, and equipment financing, can attract SMB clients. The commercial lending market is expected to grow at a rate of 5% annually, fueled by increased business investment.
- Development of Specialized Agricultural Lending Programs: Given its presence in agricultural regions, Nicolet can develop specialized lending programs tailored to the needs of farmers and agricultural businesses. Offering financing for crop production, livestock operations, and farm equipment can attract agricultural clients and support the local economy. The agricultural lending market is expected to grow, driven by increasing demand for food production.
What Opportunities Does NIC Have?
- Expansion of digital banking services.
- Strategic acquisitions of smaller banks and credit unions.
- Growth in wealth management services.
- Increased commercial lending to SMBs.
What Threats Does NIC Face?
- Increasing competition from larger national banks and fintech companies.
- Regulatory changes and compliance costs.
- Economic downturn in the region.
- Cybersecurity risks and data breaches.
What Are NIC's Competitive Advantages?
- Strong regional presence and brand recognition in Wisconsin and Michigan.
- Established relationships with local businesses and communities.
- Diverse range of banking products and services.
- Experienced management team with deep industry knowledge.
What Does NIC Do?
Nicolet Bankshares, Inc., established in 2000 and headquartered in Green Bay, Wisconsin, serves as the bank holding company for Nicolet National Bank. Originally named Green Bay Financial Corporation, the company rebranded in March 2002 to reflect its evolving strategic direction. Nicolet National Bank provides a comprehensive suite of banking products and services tailored to both businesses and individual customers. These offerings include a variety of deposit accounts such as checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts. Beyond deposit services, Nicolet offers a wide array of lending options, including commercial, industrial, and business loans, commercial real estate loans, agricultural production and real estate loans, and construction and land development loans. The bank also provides residential real estate loans, encompassing first and junior lien mortgages, home equity loans, lines of credit, and residential construction loans, alongside consumer loans. Nicolet distinguishes itself through its commitment to providing additional services such as cash management, international banking, personal brokerage, safe deposit boxes, and trust and fiduciary services. Furthermore, the company extends its expertise to wealth management and retirement plan services. Nicolet Bankshares also offers mortgage refinancing and a suite of online services, including commercial, retail, and trust online banking, automated bill payment, mobile banking deposits and account access, and remote deposit capture services. Additional customer conveniences include wire transfers, debit and credit cards, pre-paid gift cards, direct deposits, and official bank checks. As of December 31, 2021, Nicolet operated 52 branches across Wisconsin and Michigan, solidifying its regional presence. The bank also facilitates crop insurance products, adding to its diverse service portfolio.
What Products and Services Does NIC Offer?
- Accepts checking, savings, and money market accounts.
- Offers certificates of deposit and individual retirement accounts.
- Provides commercial loans, including commercial, industrial, and business loans and lines of credit.
- Offers commercial real estate loans and agricultural loans.
- Provides residential real estate loans, including mortgages and home equity products.
- Offers consumer loans and cash management services.
- Provides trust and fiduciary services, as well as wealth management and retirement plan services.
- Offers online and mobile banking services.
How Does NIC Make Money?
- Generates revenue through interest income from loans.
- Earns fee income from services such as wealth management, trust services, and transaction fees.
- Manages risk through diversification of loan portfolio and adherence to regulatory requirements.
- Expands market presence through organic growth and strategic acquisitions.
What Industry Does NIC Operate In?
Nicolet Bankshares operates within the regional banking sector, which is characterized by increasing consolidation and technological disruption. The industry is influenced by factors such as interest rate fluctuations, regulatory changes, and economic growth in local markets. Competition comes from larger national banks, community banks, and emerging fintech companies. Nicolet's focus on personalized service and local market expertise positions it to maintain a competitive edge. The regional banking sector is expected to see moderate growth, driven by increased demand for loans and wealth management services.
Who Are NIC's Key Customers?
- Small and medium-sized businesses (SMBs) in Wisconsin and Michigan.
- Individual consumers seeking personal banking services.
- High-net-worth individuals seeking wealth management services.
- Agricultural businesses and farmers.
Company Profile
Nicolet Bankshares, Inc. operates in the Banks - Regional industry within the Financial Services sector. It is headquartered in Green Bay, US. The company is led by CEO Michael E. Daniels. NIC has traded publicly since 2013.
F-Score 6/9Financial Health
Nicolet Bankshares, Inc.'s Piotroski F-Score is 6/9, a 9-point checklist of profitability, leverage and efficiency — a middling fundamental profile. Its Altman Z-Score of 0.28 places it in the distress zone, a signal of elevated financial risk.
ROE 9%Key Financial Metrics
Return on equity for Nicolet Bankshares, Inc. stands at 9.0%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 0.9%, showing how much profit it generates from its asset base. NIC trades at a trailing price-to-earnings ratio of 15.51, below the Financial Services sector average of ~18x. Its free cash flow yield is 4.6%, a gauge of the cash the business throws off relative to its market value. A current ratio of 0.15 means current liabilities exceed short-term assets, a liquidity point worth watching. Its earnings yield is 5.3%, the inverse of the P/E and a quick read on earnings relative to price.
NIC Valuation & Market Position
With a $2.92B market cap, Nicolet Bankshares, Inc. sits in the mid-cap segment of the market. Relative to its peer group, NIC's quantitative score of 86/100 is roughly in line with the peer average of 89/100.
FY2026 estForward Outlook
Wall Street analysts project Nicolet Bankshares, Inc. revenue of about $658.9M for fiscal 2026, with EPS near $11.97. The estimate reflects 4 contributing analysts.
NIC Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- Nicolet's recent insider buying suggests those in the know see long-term value, a strong signal for potential upside. Think of it like Buffett adding to his Apple stake – confidence inspires confidence.
- Community sentiment seems to be leaning bullish, with many traders highlighting the bank's strong regional presence and customer relationships. It's like a local business with a loyal following.
- The market perception of regional banks is improving, with some seeing them as undervalued compared to larger institutions. Similar to how value investors piled into beaten-down sectors after the 2008 crisis.
- Nicolet's focus on community banking resonates well in an era where personalized service is valued. It's a contrast to the 'too big to fail' mentality of larger banks.
Bear Case
- Recent insider activity might be strategic, not necessarily a reflection of overwhelming confidence. It could be similar to executives exercising stock options for personal gain.
- Bearish voices in the community are concerned about potential headwinds from rising interest rates impacting loan demand. Like the housing market reacting to rate hikes.
- Market perception could shift if economic conditions worsen, impacting Nicolet's loan portfolio and profitability. Think of the energy sector facing challenges during oil price downturns.
- Community sentiment can be fickle, and a negative news cycle could quickly turn the tide against Nicolet. Similar to how social media storms can impact a company's reputation.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
NIC Latest News
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Stocks That Hit 52-Week Lows On Thursday
benzinga · May 4, 2023
NIC Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for NIC.
Price Targets
Consensus target: $174.00
NIC MoonshotScore
What does this score mean?
The MoonshotScore rates NIC 0-100 on quantitative fundamentals — growth, financial health, valuation, momentum, and risk.
Latest Nicolet Bankshares, Inc. Analysis
Leadership: Michael E. Daniels
CEO
Michael E. Daniels serves as the CEO of Nicolet Bankshares, Inc., leading a team of 952 employees. His career history reflects extensive experience in the banking and financial services industry. He has held various leadership positions, demonstrating his expertise in strategic planning, risk management, and business development. Daniels's educational background includes a strong foundation in finance and economics, providing him with the analytical skills necessary to navigate the complexities of the banking sector. His previous roles have equipped him with a deep understanding of market dynamics and customer needs.
Track Record: Under Michael E. Daniels's leadership, Nicolet Bankshares, Inc. has achieved significant milestones, including consistent growth in assets, deposits, and profitability. He has overseen strategic acquisitions that have expanded the company's market presence and service offerings. Daniels has also championed initiatives to enhance customer experience and operational efficiency. His focus on innovation and technology has positioned Nicolet as a forward-thinking regional bank.
NIC Financial Services Stock FAQ
What does the AI Score mean for NIC?
NIC holds an AI Score of 86/100 (Grade: A+). This is an educational research signal, not a buy or sell recommendation. Nicolet Bankshares, Inc. is a bank holding company operating through Nicolet National Bank. They provide a range of banking products and services to businesses and individuals, with 52 branches …
What does Nicolet Bankshares, Inc. do?
Nicolet Bankshares, Inc. operates as the bank holding company for Nicolet National Bank, providing a comprehensive range of banking products and services to businesses and individuals. These services include deposit accounts, commercial and residential lending, wealth management, and trust services. The company operates 52 branches throughout Wisconsin and Michigan, focusing on building strong relationships with local communities and businesses.
What do analysts say about NIC stock?
Analyst coverage of Nicolet Bankshares, Inc. (NIC) typically focuses on its regional market position, asset quality, and growth prospects. Key valuation metrics such as the P/E ratio (16.33) and price-to-book ratio are often compared to peers in the regional banking sector. Growth considerations include the company's ability to expand its loan portfolio, increase fee income, and manage operating expenses efficiently.
What are the main risks for NIC?
Nicolet Bankshares, Inc. faces several key risks inherent to the banking industry. These include credit risk associated with loan defaults, interest rate risk due to fluctuations in market rates, and operational risk related to cybersecurity and regulatory compliance. Given its regional focus, Nicolet is also exposed to economic conditions in Wisconsin and Michigan.
What are the key factors to evaluate for NIC?
Nicolet Bankshares, Inc. (NIC) holds an AI score of 86/100 (high). P/E: 15.5x vs the S&P 500's ~20-25x. Analysts target $174.00 (+3%). Not financial advice.
How frequently does NIC data refresh on this page?
NIC's price was last updated on Jul 23, 2026 and refreshes on page view during U.S. market hours — it is not a real-time exchange feed. Fundamentals update after quarterly filings; the MoonshotScore recalculates nightly; news aggregates continuously.
What has driven NIC's recent stock price performance?
Nicolet Bankshares, Inc. (NIC) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Strong regional presence in Wisconsin and Michigan. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider NIC overvalued or undervalued right now?
Nicolet Bankshares, Inc. (NIC) trades at 15.5x earnings. Analysts target $174.00 (+3%) — near fair value. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
How do I research NIC before investing?
Before investing in Nicolet Bankshares, Inc. (NIC), research these four areas: (1) the company's revenue model and competitive position (see Company Overview), (2) financial health through revenue growth, margins, and cash flow (see MoonshotScore), (3) analyst consensus ratings and price targets (see Analyst tab), and (4) specific risk factors that could impact the stock (see Risk Factors section).
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Financial data is based on information available as of 2021-12-31.
- Analyst opinions and market projections are subject to change.