Nicolet Bankshares, Inc. (NIC) is a publicly traded company in the Financial Services — Banks - Regional industry listed on NYSE. This overview shows the latest price, key valuation ratios, profitability metrics and financial-health indicators used by fundamental investors.
Nicolet Bankshares, Inc. operates as the bank holding company for Nicolet National Bank that provides banking products and services for businesses and individuals in Wisconsin, Michigan, and Minnesota. The company accepts demand deposits, checking, savings, and money market accounts; various certificates of deposit; and individual retirement accounts.
Is Nicolet Bankshares, Inc. stock overvalued or undervalued in 2026?
Nicolet Bankshares, Inc. (NIC) trades at 16.7× earnings (P/E), against a median of 12.9× across the 321 financial services companies above $2bn in Kaplio's universe. At a P/B Kaplio accepts for its ROTCE 17.2 % (2.0×) $302 (+73 %); at its peers' median (1.1×) $164 (-6 %).
Kaplio overview: Nicolet Bankshares, Inc.
Market cap $4B · 52 weeks $120 – $179 (2 % below the high) · P/E 16.7× · 2027 est. P/E 12.7× · Dividend 0.78 % · Next earnings January 19, 2027 · expected EPS $3.25 · Closing price, Nov 2 · accounts published Oct 20.
- Valuation: P/B 1.2× (justified).
- Business: ROTCE 17.2 % (excellent).
- Balance sheet: Capital/assets 13.7 % (solid).
- Earnings: 8 of 8 (on track).
What would it be worth at its usual multiples?
At a P/B Kaplio accepts for its ROTCE 17.2 % (2.0×) $302 (+73 %); at its peers' median (1.1×) $164 (-6 %). Implied price from applying the reference multiples to today's earnings (or book value, or FFO) per share. Not a fair value: it is where the stock would trade at its usual multiples.
What matters in banking: 4 of 4 pass
- ROA 1.2 %, passes.
- ROTCE 17.2 %, passes.
- Equity / Assets (Tier 1 proxy) 13.7 %, passes.
- P/B (Price / Book) 1.2×, passes.
- Sustainable dividend yield 0.8 %, info.
Against its peers (reference peers) — Nicolet Bankshares, Inc.: P/E 16.7×; P/B 1.2×; ROE 8.8 %; $3.6B. Stock Yards Bancorp, Inc. (P/E 15.6×; P/B —; ROE 19.0 %; $2.5B), Bank OZK (P/E 8.7×; P/B 0.9×; ROE 10.9 %; $5.7B), Northwest Bancshares, Inc. (P/E 11.6×; P/B 1.2×; ROE 10.5 %; $2.3B).
Expensive or cheap against its last ten fiscal years?
P/B at each close: today 1.2× · median 1.4× · minimum 0.8× · maximum 2.1× · cheap below 1.1× · expensive above 1.6×. It has been cheaper than today only 33% of the time over its last ten fiscal years.
Dividend
tight (only raised recently) · Yield 0.78 % ($1.25 per share in 2025) · Years raising it 2 · Free cash flow coverage payout 12 % · With $1,000 invested today you'd collect $7.80 a year ($0.65 a month).
Profitability
| Return on Equity | 8.79% |
| Return on Invested Capital | 7.14% |
| Return on Assets | 1.17% |
| Gross Margin | 64.66% |
| Operating Margin | 36.49% |
| Net Margin | 28.84% |
Financial Health
| Debt / Equity | 0.04 |
| Current Ratio | 0.20 |
| Piotroski F-Score | 9 |
| Altman Z-Score | 1.34 |
Price Performance
| 1 month | +4.97% |
| 3 months | +0.33% |
| Year-to-date | +44.06% |
| 1 year | +44.75% |
| 3 years | +127.05% |
| 5 years | +133.11% |
| 10 years | +356.48% |
Dividend History
Paid in the last 12 months: $1.36 per share in 4 payments.
| Date | Amount |
|---|---|
| December 1, 2026 | $0.36 |
| September 1, 2026 | $0.36 |
| June 1, 2026 | $0.36 |
| March 2, 2026 | $0.32 |
| December 8, 2025 | $0.32 |
| September 2, 2025 | $0.32 |
| June 2, 2025 | $0.32 |
| March 10, 2025 | $0.28 |
| December 2, 2024 | $0.28 |
| September 3, 2024 | $0.28 |
Amounts adjusted for stock splits.
Related companies: PNFP · OZK · EFSC · SYBT · NWBI · CHCO · FCF
Explore sector: Financial Services · Banks - Regional
More sections of NIC: Financials · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
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