Stocks · Financial Services · Banks - Regional
Nicolet Bankshares, Inc. NIC
$166.47 +1.74% Close, Oct 2, 2026 · NYSE · Market cap $2.88B
Next earnings report: Oct 20, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Earnings beat analyst estimates in each of the last 12 quarters (average surprise over the last four: +6.8%).
- Net debt is 9.5× EBITDA, a high level of leverage.
- The stock is in an uptrend: above its 200-day average for 82 trading days, with the 50-day average above the 200-day.
PromtFinance scores
Each score is a percentile within the Financial Services sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
Growth27Very weak
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Bottom 21%
- EPS growth (TTM, YoY)Bottom 31%
- FCF growth (TTM, YoY)Top 46%
- Revenue growth, 3-year CAGRTop 37%
- Revenue growth accelerationBottom 35%
Quality44Weak
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalBottom 44%
- Gross marginBottom 41%
- Operating marginTop 17%
- Cash conversion (OCF / net income)Top 48%
- Accruals (lower is better)Bottom 44%
- Net debt / EBITDA (lower is better)Bottom 13%
- Interest coverTop 48%
Value27Very weak
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldBottom 43%
- Free-cash-flow yieldBottom 39%
- EBITDA / enterprise valueBottom 36%
- Sales / enterprise valueBottom 12%
- P/E vs own 5-year history (lower is better)Bottom 25%
Momentum70Positive
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 25%
- 6-month returnTop 35%
- 1-year return vs S&P 500Top 24%
- Distance from 52-week highTop 38%
- Trend checklist (0–4)Top 48%
Revisions84Strong
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersTop 39%
- Consecutive EPS beatsTop 6%
- Share of analysts rating BuyTop 34%
- Upside to consensus price targetTop 45%
Stability53Neutral
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Top 37%
- Maximum drawdown, 3 yearsTop 25%
- Beta vs S&P 500 (lower is better)Top 46%
- Net debt / EBITDA (lower is better)Bottom 13%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | -0.6% | -2.7% | ↓ |
| EPS growth (YoY) | 5.1% | 3.2% | ↓ |
| Gross margin | 67.6% | 62.1% | ↓ |
| Operating margin | 31.5% | 37.1% | ↑ |
| FCF margin | 26.5% | 33.6% | ↑ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | -2.7% | -0.6% | ↓ | Bottom 21% |
| EPS growth (TTM, YoY) | 3.2% | 5.1% | ↓ | Bottom 31% |
| Gross margin | 62.1% | 67.6% | ↓ | Bottom 41% |
| Operating margin | 37.1% | 31.5% | ↑ | Top 17% |
| Net margin | 29.5% | 25.3% | ↑ | — |
| Free-cash-flow margin | 33.6% | 26.5% | ↑ | — |
| Return on invested capital | 1.0% | — | Bottom 44% | |
| Revenue growth, 3-year CAGR | 18.5% | — | Top 37% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 1.18×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -0.2%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 2.7%
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 9.52×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 1.0×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.84%
- Net buyback yield (TTM)
- 3.05%
- Shareholder yield
- 3.89%
- Share count change, 1 year
- -1.3%
- Share count change, 3-year CAGR
- +0.6%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Jul 31, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 12
- Beats in the last 8 reports
- 8 of 8
- Average EPS surprise, last 4
- +6.8%
- Average 2-day reaction, last 8
- -0.3%
- Positive 20 days after report
- 5 of 8
Analysts
- Consensus price target
- $194.00
- Target vs current price
- +16.5%
- Analysts with a rating
- 5
- Share rating Buy or Strong Buy
- 60%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Jul 21, 2026 | +4.9% | +0.5% | +0.7% | +6.5% | — |
| Apr 21, 2026 | +3.0% | -0.6% | -4.8% | -9.6% | +10.3% |
| Jan 20, 2026 | +7.1% | -0.0% | +9.2% | +19.9% | +19.2% |
| Oct 23, 2025 | +12.2% | -3.3% | -11.7% | -7.9% | +0.9% |
| Jul 15, 2025 | +9.8% | -3.3% | +6.2% | -2.3% | +1.9% |
| Apr 15, 2025 | +7.1% | +1.5% | +10.3% | +18.5% | +24.0% |
| Jan 21, 2025 | +9.6% | +1.0% | +3.7% | +11.0% | -1.6% |
| Oct 15, 2024 | +12.9% | +1.4% | +2.7% | +17.2% | +3.3% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Jul 21, 2026 | $2.99 | $2.85 | +4.9% | $177.8M |
| Apr 21, 2026 | $2.75 | $2.67 | +3.0% | $134.9M |
| Jan 20, 2026 | $2.73 | $2.55 | +7.1% | $104.0M |
| Oct 23, 2025 | $2.66 | $2.37 | +12.2% | $102.9M |
| Jul 15, 2025 | $2.35 | $2.14 | +9.8% | $54.2M |
| Apr 15, 2025 | $2.10 | $1.96 | +7.1% | $89.4M |
| Jan 21, 2025 | $2.17 | $1.98 | +9.6% | $91.2M |
| Oct 15, 2024 | $2.10 | $1.86 | +12.9% | $90.7M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 18.5× | 14.5× | 81th | Bottom 43% |
| P/E (forward) | 14.2× | — | — | — |
| EV / EBITDA | 23.6× | — | — | Bottom 36% |
| EV / Sales | 9.23× | — | — | Bottom 12% |
| Free-cash-flow yield | 6.10% | — | — | Bottom 39% |
| Earnings yield | 5.40% | — | — | Bottom 43% |
P/E over the past five years
Range 10.4× – 20.8× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- +26.3%
- Earnings per share growth (TTM)
- +3.2%
- Change in P/E multiple
- +31.5%
Most of the move came from a change in the valuation multiple.
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✓ Price above 200-day average
- ✓ 50-day average above 200-day
- ✗ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 82
- 50-day average slope (20 days)
- +0.5%
- 200-day average slope (20 days)
- +2.8%
- Distance from 50-day average
- -2.5%
- Distance from 200-day average
- +8.8%
- RSI (14)
- 46.3
- Relative volume
- 1.09×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 18.5%
- Volatility vs own 5-year history
- 2th percentile · Low for this stock
- Beta vs S&P 500 (2 years, weekly)
- 0.66
- Correlation with S&P 500
- 0.36
- Current drawdown from 1-year high
- -7.0%
- Maximum drawdown, 3 years
- -18.3%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Mar 14, 2022 | May 4, 2023 | -44.3% | 287 days | 301 days (Jul 17, 2024) |
| Mar 26, 2021 | Jul 8, 2021 | -20.3% | 71 days | 118 days (Dec 23, 2021) |
| Feb 20, 2026 | Jun 3, 2026 | -18.3% | 71 days | 16 days (Jun 26, 2026) |
| Jul 17, 2025 | Oct 29, 2025 | -18.1% | 73 days | 56 days (Jan 21, 2026) |
| Jul 26, 2024 | Aug 12, 2024 | -16.9% | 11 days | 46 days (Oct 16, 2024) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $2.88B
- P/E (TTM)
- 18.5
- EPS, diluted (TTM)
- $8.99
- Revenue (TTM)
- $522.1M
- Dividend yield
- 0.82%
- 52-week range
- $114.12 – $180.00
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $239.1M | $332.1M | $416.9M | $519.4M | $552.6M |
| Gross profit | $210.5M | $286.6M | $272.9M | $345.3M | $383.9M |
| Operating income | $81.1M | $125.7M | $86.6M | $155.1M | $187.0M |
| Net income | $60.7M | $94.3M | $61.5M | $124.1M | $150.7M |
| EPS (diluted) | $5.44 | $6.56 | $4.08 | $8.05 | $9.78 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $135.0M | $132.5M | $131.0M | $138.3M | $144.0M | $139.4M | $102.1M | $136.6M |
| Net income | $32.5M | $34.5M | $32.6M | $36.0M | $41.7M | $40.3M | $15.2M | $56.9M |
| EPS (diluted) | $2.10 | $2.19 | $2.08 | $2.34 | $2.72 | $2.65 | $1.00 | $2.62 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $97.7M | $117.4M | $108.0M | $133.7M | $153.5M |
| Capital expenditure | -$12.8M | -$12.2M | -$18.2M | -$16.5M | -$4.1M |
| Free cash flow | $84.9M | $105.2M | $89.8M | $117.2M | $149.4M |
| Dividends paid | $0 | $0 | -$11.1M | -$16.5M | -$18.7M |
| Net share buybacks | -$60.2M | -$60.7M | -$677,000 | -$9.6M | -$79.6M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $153.5M
- Total assets
- $15.41B
- Total liabilities
- $13.14B
- Total debt
- $92.8M
- Net debt
- $1.95B
- Shareholders’ equity
- $2.27B
As of Jun 30, 2026 (filed Jul 31, 2026).
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| Sep 1, 2026 | $0.36 | Sep 15, 2026 |
| Jun 1, 2026 | $0.36 | Jun 15, 2026 |
| Mar 2, 2026 | $0.32 | Mar 16, 2026 |
| Dec 8, 2025 | $0.32 | Dec 15, 2025 |
| Sep 2, 2025 | $0.32 | Sep 15, 2025 |
| Jun 2, 2025 | $0.32 | Jun 13, 2025 |
| Mar 10, 2025 | $0.28 | Mar 17, 2025 |
| Dec 2, 2024 | $0.28 | Dec 16, 2024 |
Short interest
- Shares sold short
- 1,058,772
- Days to cover
- 7.21
- Change vs previous report
- +5.8%
FINRA short interest, settlement date Sep 15, 2026.