(NIC) Nicolet Bankshares - Overview
Stock: Banking, Lending, Wealth, Deposits, Insurance
| Risk 5d forecast | |
|---|---|
| Volatility | 31.2% |
| Relative Tail Risk | -10.8% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.86 |
| Alpha | 18.20 |
| Character TTM | |
|---|---|
| Beta | 0.727 |
| Beta Downside | 0.753 |
| Drawdowns 3y | |
|---|---|
| Max DD | 29.09% |
| CAGR/Max DD | 0.97 |
EPS (Earnings per Share)
Revenue
Description: NIC Nicolet Bankshares January 14, 2026
Nicolet Bankshares, Inc. (NYSE: NIC) is a regional-bank holding company headquartered in Green Bay, Wisconsin. It operates Nicolet National Bank, which serves retail and commercial customers across Wisconsin, Michigan, and Minnesota, offering a full suite of deposit products, consumer and commercial loan services, cash-management, wealth-management, and online banking capabilities.
As of the latest quarter (Q4 2023), NIC reported a net interest margin of 3.6%-slightly above the regional-bank average of 3.4%-and a loan-to-deposit ratio of 71%, indicating a conservative funding profile. Deposits grew 5.2% YoY, driven by higher interest-bearing accounts, while total loans expanded 3.8% YoY, with commercial real-estate and agricultural loan segments posting the strongest growth. The bank’s efficiency ratio stood at 58%, reflecting disciplined cost management, and its return on assets (ROA) was 0.94%, marginally above the sector median of 0.86%.
Key macro drivers include the Federal Reserve’s policy stance: higher policy rates have boosted NIC’s net interest income but also raise credit-risk concerns for its commercial-real-estate portfolio, especially in the Upper Midwest where construction activity is sensitive to financing costs. Additionally, regional economic trends-such as the rebound in manufacturing output in Wisconsin and the agricultural sector’s mixed outlook due to commodity price volatility-will likely influence loan demand and credit quality.
For a deeper dive into NIC’s valuation metrics and peer comparison, you might explore the analysis on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 4.0
| Net Income: 150.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA 0.03 > 1.0 |
| NWC/Revenue: -63.55% < 20% (prev -1238 %; Δ 1174 % < -1%) |
| CFO/TA 0.01 > 3% & CFO 126.6m > Net Income 150.7m |
| Net Debt (-525.4m) to EBITDA (195.9m): -2.68 < 3 |
| Current Ratio: 0.95 > 1.5 & < 3 |
| Outstanding Shares: last quarter (15.2m) vs 12m ago -3.07% < -2% |
| Gross Margin: 69.47% > 18% (prev 0.66%; Δ 6880 % > 0.5%) |
| Asset Turnover: 6.15% > 50% (prev 5.90%; Δ 0.24% > 0%) |
| Interest Coverage Ratio: 0.66 > 6 (EBITDA TTM 195.9m / Interest Expense TTM 206.0m) |
Altman Z'' 0.19
| A: -0.04 (Total Current Assets 7.44b - Total Current Liabilities 7.79b) / Total Assets 9.19b |
| B: 0.08 (Retained Earnings 697.8m / Total Assets 9.19b) |
| C: 0.02 (EBIT TTM 136.8m / Avg Total Assets 8.99b) |
| D: 0.09 (Book Value of Equity 674.4m / Total Liabilities 7.93b) |
| Altman-Z'' Score: 0.19 = B |
What is the price of NIC shares?
Over the past week, the price has changed by +1.70%, over one month by +20.71%, over three months by +22.28% and over the past year by +29.17%.
Is NIC a buy, sell or hold?
- StrongBuy: 1
- Buy: 1
- Hold: 3
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the NIC price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 167.6 | 10.5% |
| Analysts Target Price | 167.6 | 10.5% |
| ValueRay Target Price | 182.9 | 20.5% |
NIC Fundamental Data Overview February 09, 2026
P/S = 5.8151
P/B = 1.793
Revenue TTM = 552.6m USD
EBIT TTM = 136.8m USD
EBITDA TTM = 195.9m USD
Long Term Debt = 134.9m USD (from longTermDebt, last quarter)
Short Term Debt = unknown (none)
Debt = 134.9m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -525.4m USD (from netDebt column, last quarter)
Enterprise Value = 1.73b USD (2.26b + Debt 134.9m - CCE 660.2m)
Interest Coverage Ratio = 0.66 (Ebit TTM 136.8m / Interest Expense TTM 206.0m)
EV/FCF = 13.78x (Enterprise Value 1.73b / FCF TTM 125.6m)
FCF Yield = 7.26% (FCF TTM 125.6m / Enterprise Value 1.73b)
FCF Margin = 22.72% (FCF TTM 125.6m / Revenue TTM 552.6m)
Net Margin = 27.27% (Net Income TTM 150.7m / Revenue TTM 552.6m)
Gross Margin = 69.47% ((Revenue TTM 552.6m - Cost of Revenue TTM 168.7m) / Revenue TTM)
Gross Margin QoQ = 71.24% (prev 70.81%)
Tobins Q-Ratio = 0.19 (Enterprise Value 1.73b / Total Assets 9.19b)
Interest Expense / Debt = 29.17% (Interest Expense 39.3m / Debt 134.9m)
Taxrate = 19.67% (9.87m / 50.2m)
NOPAT = 109.9m (EBIT 136.8m * (1 - 19.67%))
Current Ratio = 0.95 (Total Current Assets 7.44b / Total Current Liabilities 7.79b)
Debt / Equity = 0.11 (Debt 134.9m / totalStockholderEquity, last quarter 1.26b)
Debt / EBITDA = -2.68 (Net Debt -525.4m / EBITDA 195.9m)
Debt / FCF = -4.18 (Net Debt -525.4m / FCF TTM 125.6m)
Total Stockholder Equity = 1.21b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.68% (Net Income 150.7m / Total Assets 9.19b)
RoE = 12.44% (Net Income TTM 150.7m / Total Stockholder Equity 1.21b)
RoCE = 10.16% (EBIT 136.8m / Capital Employed (Equity 1.21b + L.T.Debt 134.9m))
RoIC = 8.21% (NOPAT 109.9m / Invested Capital 1.34b)
WACC = 9.44% (E(2.26b)/V(2.39b) * Re(8.60%) + D(134.9m)/V(2.39b) * Rd(29.17%) * (1-Tc(0.20)))
Discount Rate = 8.60% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 0.28%
[DCF Debug] Terminal Value 76.61% ; FCFF base≈122.3m ; Y1≈149.6m ; Y5≈250.2m
Fair Price DCF = 256.6 (EV 3.27b - Net Debt -525.4m = Equity 3.80b / Shares 14.8m; r=9.44% [WACC]; 5y FCF grow 23.94% → 2.90% )
EPS Correlation: 79.94 | EPS CAGR: 13.46% | SUE: 3.13 | # QB: 7
Revenue Correlation: 84.66 | Revenue CAGR: 18.46% | SUE: 3.35 | # QB: 3
EPS next Quarter (2026-03-31): EPS=2.52 | Chg30d=+0.130 | Revisions Net=+4 | Analysts=4
EPS current Year (2026-12-31): EPS=12.51 | Chg30d=+0.357 | Revisions Net=+3 | Growth EPS=+27.4% | Growth Revenue=+82.2%
EPS next Year (2027-12-31): EPS=14.36 | Chg30d=+0.523 | Revisions Net=+3 | Growth EPS=+14.8% | Growth Revenue=+11.3%