Nicolet Bankshares, Inc.
$131.86
-3.7%Nicolet Bankshares, Inc. operates as the bank holding company for Nicolet National Bank that provides banking products and services for businesses and individuals. The company accepts checking, savings, and money market accounts; various certificates of deposit; and individual retirement accounts. It also offers commercial loans, including commercial, industrial, and business loans and lines of credit; commercial real estate loans; agricultural (AG) production and AG real estate loans; commercial real estate investment real estate loans; construction and land development loans; residential real estate loans, such as residential first lien and junior lien mortgages, home equity loans, lines of credit, and residential construction loans; and consumer loans. In addition, the company provides cash management, international banking, personal brokerage, safe deposit boxes, and trust and fiduciary services, as well as wealth management and retirement plan services. Further, it offers mortgage refinancing; online services, such as commercial, retail, and trust online banking; automated bill payment, mobile banking deposits and account access, and remote deposit capture services; and other services consisting of wire transfers, debit cards, credit cards, pre-paid gift cards, direct deposits, and official bank checks, as well as facilitates crop insurance products. As of December 31, 2021, it operated 52 branches throughout Wisconsin and Michigan. The company was formerly known as Green Bay Financial Corporation and changed its name to Nicolet Bankshares, Inc. in March 2002. Nicolet Bankshares, Inc. was incorporated in 2000 and is headquartered in Green Bay, Wisconsin.
At a Glance
Live SnapshotIntrinsic Alpha Methodology
Thesis Lenses
Signal
High confidenceValuation multiple is compressed (P/E 13.1).
Valuation inputs: P/E 13.1, earnings yield +7.6%, momentum -3.7%.
If multiples stay elevated while momentum fades, downside repricing risk rises.
Driver
High confidenceReturn profile is soft (ROE +12.0%, ROIC +1.6%).
Profitability stack: net margin +27.3%, ROE +12.0%, ROIC +1.6%.
Quality deterioration often appears in margins before it shows up in headline EPS.
Risk
High confidenceRisk profile is balanced but has notable pressure points to monitor.
Risk factors: liabilities/assets +86.3%, momentum -3.7%, net margin +27.3%.
Higher leverage with weak momentum and thin margins can amplify drawdown severity.
Nicolet Bankshares, Inc. Market vs Earnings Trajectory
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Nicolet Bankshares, Inc. Fair Value Envelope
Nicolet Bankshares, Inc. Profit Bridge
Profitability Analysis
Gross Margin
Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.
Operating Margin
Outstanding operational efficiency. The company generates substantial profit from core operations.
Net Profit Margin
Exceptional profitability. The company converts a significant portion of revenue to bottom-line earnings.
Effective Tax Rate
Moderate tax rate typical for most corporations. Represents standard tax burden on profits.
Profitability Insight
Exceptional profitability across all levels: Strong pricing power, efficient operations, and healthy bottom line indicate a high-quality business with sustainable competitive advantages.
Nicolet Bankshares, Inc. Cash Conversion Engine
Cash Flow Quality Analysis
FCF Conversion Rate
Strong cash conversion. Most reported earnings translate into actual cash flow, suggesting solid fundamentals.
CapEx Intensity
Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.
FCF Growth Trend
Strong FCF growth demonstrates improving cash generation and business momentum. Positive signal for sustainability.
Working Capital Impact
Minimal working capital impact on FCF. Changes in operating assets and liabilities well-managed.
Cash Flow Quality Insight
Asset-light with strong cash conversion: Low capital requirements combined with efficient cash generation creates significant shareholder value through dividends, buybacks, or strategic investments.
Nicolet Bankshares, Inc. Funding & Solvency Profile
Financial Health Analysis
Debt-to-Equity Ratio
High financial leverage. Heavy reliance on debt may indicate increased financial risk and potential solvency concerns.
Working Capital
Strong working capital position provides significant operational flexibility and financial cushion.
Asset Composition
Capital-intensive business with significant long-term investments in property, equipment, or intangibles.
Nicolet Bankshares, Inc. Street Expectations Map
Wall Street analysts project that NIC stock may rise significantly over the coming 12 months. The consensus 1-year price target stands at 182.67, with estimates ranging from a low of 173.00 to a high of 190.00.
The consensus 1-year price target stands at 182.67, with estimates ranging from a low of 173.00 to a high of 190.00.
Analyst Consensus Analysis
Upside Potential
Substantial upside potential. Analysts see significant value gap, suggesting the stock may be materially undervalued at current levels.
Analyst Agreement
High analyst agreement. Narrow target range indicates strong consensus on valuation, suggesting clear investment thesis and predictable outlook.
Analyst Conviction
Strong buy conviction: High upside with tight consensus suggests compelling investment opportunity backed by analyst confidence.
Market Sentiment Insight
Rare opportunity: Exceptional upside potential with strong analyst consensus creates a compelling setup. The combination of significant price target premium and tight agreement suggests high-conviction undervaluation that may attract institutional capital.
Nicolet Bankshares, Inc. Insider Positioning
During the last 12 months, insiders have purchased $162K and sold $1.70M worth of NIC shares, resulting in $1.54M of net selling activity.
3 Months
0
0.00
1.9K
281.79K
-282K
-$282K
3-6 Months
0
0.00
9.2K
1.42M
-1.4M
-$1.42M
6-9 Months
1.4K
162.08K
0
0.00
+162K
+$162K
9-12 Months
0
0.00
0
0.00
+0
+$0
Top Buyers
Weyers Robert J
Director
$120K
Ghidorzi Christopher J.
Director
$15K
Long Donald J Jr
Director
$10K
Dykema John Nicholas
Director
$7K
Johnson Brenda L
Director
$4K
Top Sellers
Atwell Robert Bruce
Director
$1.70M
Insider Activity Analysis
Net Insider Sentiment
Strong bearish signal with $1.54M net selling. Heavy insider selling may indicate concerns about valuation or near-term prospects.
Buy/Sell Ratio
Very poor ratio. Heavy selling with minimal buying suggests insiders may be concerned about valuation or outlook.
Recent Trend (3 Months)
Heavy recent selling activity. Recent insider sales notably exceed purchases—may warrant investigation into company developments.
Insider Participation
5 insider buyers vs. 1 sellers. Broad-based buying across management team suggests widespread confidence.
Insider Activity Insight
Persistent selling pressure: Consistent insider selling with weak buy/sell ratio suggests insiders may be capitalizing on current valuation. Exercise caution and review recent earnings quality and management commentary.
nic Dividend History
Learning Layer
Related Guides
Build conviction on NIC by pairing this stock hub with focused valuation guides.
Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.