Nicolet Bankshares Inc. Common Stock (NIC)

FairStock Score: 52/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach a bank as a leveraged, credit-sensitive business, not a bond substitute. Nicolet has grown. In fiscal FY2025, ended 2025-12-31, it reported net income of $150.7 million and diluted EPS of $9.78, up from $124.1 million and $8.05 in FY2024 and $61.5 million and $4.08 in FY2023. That is real progress. The current supplied five-year Lynch category is STALWART, based on 20.2% annual profit growth, and the data show 16.95% profit growth. The latest filed quarter, fiscal Q2 2026 ended 2026-06-30, had net income of $56.9 million and diluted EPS of $2.62, but fiscal Q1 2026 ended 2026-03-31 was only $15.2 million and $0.81, so results are lumpy. At the 2026-10-13 close of $163.33, FairStock calculates a P/E of 18.29, P/B of 1.51, PEG of 1.08 and ROE of 8.91%. A Piotroski F-score of 7/9 is respectable, beta is 0.64, and the dividend yield is only 0.83%. The FairStock Score is 52/100. The local deposit franchise in Wisconsin, Michigan and Minnesota is a modest advantage, but banking is competitive and I cannot verify CET1, net interest margin, nonperforming assets, charge-offs, or reserve coverage from this data. D/E is not available. Paying 1.51 times book for an 8.91% ROE does not scream bargain. I like the growth and low beta, but I want a larger margin of safety and clearer credit metrics before calling it compelling.

In plain English: Nicolet Bankshares is a regional bank serving businesses and individuals in Wisconsin, Michigan, and Minnesota. Its profits have grown over the past few years, but the bank earns only moderate returns on shareholder money and its latest quarters have been uneven. At $163.33 on 2026-10-13, the shares look fair to full rather than cheap compared with the company's earnings and net worth.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer