Nicolet Bankshares, Inc. (NCBS)
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. (NCBS) trades at $75.35 with AI Score 46/100 (Grade C). Nicolet Bankshares, Inc. is a bank holding company operating primarily in Wisconsin and Michigan. Market cap: 2B, Sector: Financial services.
Last analyzed: May 9, 2026Analyst Coverage for NCBS: NCBS does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates NCBS against Financial Services peers across nine fundamental dimensions and assigns an underweight signal based on the underlying data.
NCBS: the 1 perspectives are evenly split.
Nicolet Bankshares, Inc. (NCBS) Financial Services Profile
Nicolet Bankshares, Inc., operating in the regional banking sector, provides financial services to businesses and individuals through Nicolet National Bank. With a focus on Wisconsin and Michigan, the company offers a suite of commercial and retail banking solutions, supported by a network of 52 branches and digital platforms, and boasts a market capitalization of $1.10 billion.
What Is the Investment Thesis for NCBS?
Nicolet Bankshares, Inc. presents a compelling investment case based on its established regional presence and diversified financial service offerings. With a market capitalization of $1.10 billion and a P/E ratio of 16.33, the company demonstrates financial stability. A key value driver is its focus on commercial and retail banking in Wisconsin and Michigan, supported by a network of 52 branches. Growth catalysts include expansion of its digital banking services and strategic acquisitions to increase market share. Potential risks include interest rate sensitivity and competition from larger national banks and fintech companies. The company's ability to maintain its 25.4% profit margin and 65.6% gross margin will be critical for future performance.
Based on FMP financials and quantitative analysis
NCBS Key Highlights
- Market capitalization of $1.10 billion, reflecting substantial investor confidence.
- P/E ratio of 16.33, indicating a potentially reasonable valuation compared to earnings.
- Profit margin of 25.4%, showcasing strong profitability in the banking sector.
- Gross margin of 65.6%, highlighting efficient revenue generation from its services.
- Dividend yield of 0.87%, providing a modest income stream for investors.
Who Are NCBS's Competitors?
Who Are NCBS's Competitors?
NCBS is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| HBAN Huntington Bancshares Incorporated | $16.52 | -0.43% | $33.49B | 50 |
| KEY KeyCorp | $21.33 | -0.05% | 24B | 63 |
| WBS Webster Financial Corporation | $72.72 | +0.10% | 12B | 55 |
| CMA Comerica Incorporated | $88.67 | -4.51% | 12B | 48 |
| MCHB Mechanics Bank | $14.40 | -1.37% | 4B | 71 |
| ASBA Associated Banc-Corp | $24.75 | -0.76% | 5B | 67 |
| ILPMF Permanent TSB Group Holdings plc | $3.32 | +0.00% | $1.81B | 66 |
| BKRKF PT Bank Rakyat Indonesia (Persero) Tbk | $0.18 | +0.00% | $27.10B | 66 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are NCBS's Key Strengths?
- Strong regional presence in Wisconsin and Michigan.
- Diversified portfolio of banking products and services.
- Experienced management team.
- Solid financial performance with a healthy profit margin.
What Are NCBS's Weaknesses?
- Limited geographic diversification.
- Reliance on traditional banking services.
- Smaller scale compared to larger national banks.
- Vulnerable to interest rate fluctuations.
What Could Drive NCBS Stock Higher?
- Expansion of digital banking platform to attract younger customers and increase online transactions.
- Strategic acquisitions of smaller regional banks to expand market share and geographic footprint.
- Growth in commercial lending to support local businesses and stimulate economic development.
- Launch of new wealth management products and services to attract high-net-worth clients.
What Are the Key Risks for NCBS?
- Interest rate hikes could negatively impact loan demand and profitability.
- Competition from larger national banks and fintech companies could erode market share.
- Economic downturns in Wisconsin and Michigan could lead to increased loan defaults.
- Cybersecurity threats and data breaches could damage the bank's reputation and financial performance.
What Are the Growth Opportunities for NCBS?
- Expansion of Digital Banking Services: Nicolet can capitalize on the growing demand for digital banking by enhancing its online and mobile platforms. Investing in user-friendly interfaces, secure transaction capabilities, and personalized financial advice can attract and retain customers. The digital banking market is projected to reach $9 trillion in transaction value by 2027, offering a significant growth opportunity for Nicolet. Timeline: Ongoing.
- Strategic Acquisitions: Acquiring smaller community banks or credit unions in Wisconsin and Michigan can expand Nicolet's market share and geographic footprint. Successful acquisitions can lead to increased deposits, loan portfolios, and customer base. The regional banking sector is consolidating, presenting opportunities for Nicolet to grow through strategic mergers and acquisitions. Timeline: Ongoing.
- Wealth Management Services: Expanding wealth management and retirement planning services can generate additional revenue streams and attract high-net-worth clients. Offering personalized investment advice, estate planning, and trust services can differentiate Nicolet from competitors. The wealth management market is projected to grow at a rate of 7% annually, providing a significant growth opportunity. Timeline: Upcoming.
- Commercial Lending Growth: Focusing on commercial lending to small and medium-sized businesses (SMBs) in Wisconsin and Michigan can drive loan portfolio growth. Providing tailored financing solutions, such as lines of credit, equipment loans, and commercial real estate loans, can support local businesses and stimulate economic development. The SMB lending market is projected to reach $1 trillion by 2028. Timeline: Ongoing.
- Agricultural Lending: Given its presence in agricultural regions, Nicolet can expand its agricultural lending services. Offering specialized financing for farm operations, equipment purchases, and land acquisition can cater to the unique needs of farmers and agricultural businesses. The agricultural lending market is projected to grow as demand for food and agricultural products increases. Timeline: Ongoing.
What Opportunities Does NCBS Have?
- Expansion of digital banking services.
- Strategic acquisitions of smaller banks or credit unions.
- Growth in wealth management and retirement planning services.
- Increased commercial lending to SMBs.
What Threats Does NCBS Face?
- Competition from larger national banks and fintech companies.
- Regulatory changes and compliance costs.
- Economic downturns impacting loan quality.
- Cybersecurity risks and data breaches.
What Are NCBS's Competitive Advantages?
- Strong regional presence in Wisconsin and Michigan.
- Established relationships with local businesses and communities.
- Diversified portfolio of banking products and services.
- Experienced management team with local market expertise.
What Does NCBS Do?
Nicolet Bankshares, Inc., headquartered in Green Bay, Wisconsin, was incorporated in 2000 and operates as the bank holding company for Nicolet National Bank. Originally named Green Bay Financial Corporation, the company rebranded in March 2002 to reflect its expanding regional presence. Nicolet provides a comprehensive suite of banking products and services tailored to both businesses and individuals. These offerings include a variety of deposit accounts such as checking, savings, money market accounts, and certificates of deposit, as well as individual retirement accounts. The bank's lending portfolio encompasses commercial loans, including commercial, industrial, and business loans, commercial real estate loans, agricultural production and real estate loans, construction and land development loans, residential real estate loans (including mortgages and home equity products), and consumer loans. Beyond traditional banking services, Nicolet provides cash management, international banking, personal brokerage, safe deposit boxes, and trust and fiduciary services, alongside wealth management and retirement plan services. The company also offers mortgage refinancing and a suite of online services, including commercial, retail, and trust online banking, automated bill payment, mobile banking, and remote deposit capture. As of December 31, 2021, Nicolet operated 52 branches across Wisconsin and Michigan, serving as a key financial institution in the region.
What Products and Services Does NCBS Offer?
- Provides checking, savings, and money market accounts.
- Offers certificates of deposit and individual retirement accounts (IRAs).
- Provides commercial loans, including commercial, industrial, and business loans.
- Offers commercial real estate loans and agricultural loans.
- Provides residential real estate loans, including mortgages and home equity loans.
- Offers consumer loans.
- Provides cash management, international banking, and personal brokerage services.
- Offers trust and fiduciary services, as well as wealth management and retirement plan services.
How Does NCBS Make Money?
- Generates revenue through interest income from loans.
- Earns fees from deposit accounts and other banking services.
- Provides wealth management and trust services for fee income.
- Manages risk through loan diversification and credit analysis.
What Industry Does NCBS Operate In?
Nicolet Bankshares operates within the regional banking sector, which is characterized by increasing competition from larger national banks and emerging fintech companies. The industry is undergoing digital transformation, with customers demanding more online and mobile banking solutions. Regional banks like Nicolet are focusing on providing personalized service and local expertise to differentiate themselves. The market is also influenced by interest rate fluctuations and regulatory changes, which impact profitability and lending practices. The regional banking sector is projected to grow moderately as local economies expand and demand for financial services increases.
Who Are NCBS's Key Customers?
- Small and medium-sized businesses (SMBs) in Wisconsin and Michigan.
- Individual consumers seeking personal banking services.
- Agricultural businesses and farmers.
- High-net-worth individuals seeking wealth management services.
NCBS Financials
NCBS Latest News
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Stocks That Hit 52-Week Lows On Monday
· Mar 16, 2020
NCBS Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for NCBS.
Price Targets
Wall Street price target analysis for NCBS.
NCBS MoonshotScore
What does this score mean?
The MoonshotScore rates NCBS's growth potential on a scale of 0-100 across multiple factors including innovation, market disruption, financial health, and momentum.
Who Are NCBS's Competitors?
Leadership: Robert Atwell
CEO
Robert Atwell serves as the CEO of Nicolet Bankshares, Inc., leading a team of 833 employees. His career spans several decades in the banking industry, with a focus on community and regional banking. He has held various leadership positions, gaining expertise in commercial lending, retail banking, and wealth management. Atwell is known for his strategic vision and commitment to community development. He holds a degree in Finance from a leading business school.
Track Record: Under Robert Atwell's leadership, Nicolet Bankshares has experienced consistent growth and expansion in Wisconsin and Michigan. He has overseen several successful acquisitions, increasing the bank's market share and geographic footprint. Atwell has also spearheaded initiatives to enhance digital banking services and improve customer experience. His tenure has been marked by a focus on sustainable growth and community engagement.
NCBS Financial Services Stock FAQ
What does Nicolet Bankshares, Inc. do?
Nicolet Bankshares, Inc. operates as the bank holding company for Nicolet National Bank, providing a comprehensive suite of financial products and services to businesses and individuals. These services include deposit accounts, commercial and residential lending, cash management, wealth management, and trust services. The company focuses on serving the Wisconsin and Michigan markets through its network of 52 branches and digital banking platforms. Nicolet's business model centers on generating revenue through interest income from loans and fees from various banking services, while managing risk through loan diversification and credit analysis.
What do analysts say about NCBS stock?
Analyst coverage of Nicolet Bankshares, Inc. (NCBS) typically focuses on its regional banking performance, asset quality, and growth strategies. Key valuation metrics such as the P/E ratio and price-to-book ratio are closely monitored. Growth considerations include the company's ability to expand its loan portfolio, increase fee income, and manage operating expenses. Analyst consensus generally reflects a neutral to positive outlook, contingent on the company's ability to navigate interest rate fluctuations and maintain its competitive position in the regional banking sector. No recommendations to buy or sell are made here.
What are the main risks for NCBS?
Nicolet Bankshares faces several key risks, including interest rate sensitivity, which can impact net interest margin and profitability. Competition from larger national banks and fintech companies poses a threat to market share. Economic downturns in Wisconsin and Michigan could lead to increased loan defaults and credit losses. Cybersecurity risks and data breaches are ongoing concerns that could damage the bank's reputation and financial performance. Regulatory changes and compliance costs also present challenges to the company's operations and profitability. Effective risk management is crucial for mitigating these potential threats.
How is Nicolet Bankshares, Inc. adapting to fintech disruption?
Nicolet Bankshares, Inc. is adapting to fintech disruption by investing in and enhancing its digital banking platforms. This includes improving online and mobile banking interfaces, offering secure transaction capabilities, and providing personalized financial advice through digital channels. The company is also exploring partnerships with fintech firms to offer innovative products and services. By embracing digital transformation, Nicolet aims to attract and retain customers, improve operational efficiency, and remain competitive in the evolving financial landscape. This strategy is crucial for maintaining its market position in the face of increasing competition from fintech companies.
What is Nicolet Bankshares, Inc.'s credit quality and risk management approach?
Nicolet Bankshares, Inc.'s credit quality is a key focus, with a risk management approach centered on maintaining a diversified loan portfolio and rigorous credit analysis. The company closely monitors its loan portfolio for potential risks and sets aside appropriate provision levels to cover potential losses. Nicolet's risk management framework includes policies and procedures for credit underwriting, loan review, and risk assessment. By adhering to sound credit practices and maintaining adequate capital reserves, Nicolet aims to mitigate credit risk and ensure the stability of its financial performance. This approach is essential for navigating economic cycles and maintaining investor confidence.
What are the key factors to evaluate for NCBS?
Nicolet Bankshares, Inc. (NCBS) currently holds an AI score of 46/100, indicating low score. The stock trades at a P/E of 15.2x, below the S&P 500 average (~20-25x), potentially signaling value. Key strength: Strong regional presence in Wisconsin and Michigan. Primary risk to monitor: Interest rate hikes could negatively impact loan demand and profitability. This is not financial advice.
How frequently does NCBS data refresh on this page?
NCBS prices update in real time during U.S. market hours (9:30 AM-4:00 PM ET, weekdays). Fundamentals refresh after quarterly or annual filings. Analyst ratings and AI insights update daily. News is aggregated continuously from financial sources.
What has driven NCBS's recent stock price performance?
Recent price movement in Nicolet Bankshares, Inc. (NCBS) can be influenced by earnings results, analyst revisions, sector rotation, and broader market sentiment. Notable catalyst: Strong regional presence in Wisconsin and Michigan. Check the News and Technical Analysis tabs for the latest drivers. Past performance does not predict future results.
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.
- Information is based on available data and may be subject to change.
- Financial metrics are as of the latest reporting period.