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Nicolet Bankshares Inc
Nicolet Bankshares Inc (NIC) is listed on NYSE and classified in Banks - Regional, part of the Financial Services sector. It is headquartered in Green Bay, United States and has 1,429 employees. The company is worth $3.43B and trades at 18.3x its earnings of the last twelve months; the median for its sector is 13.2x. Revenue was $392.04M in fiscal 2025, up 11.9% from the year before. Net income was $150.69M. The share price is 9.0% below its 52-week high of $180.00. It pays a dividend yielding 0.83%. 2 of the 38 superinvestors we track held it at the end of Q2 2026. The largest position belongs to Cliff Asness (AQR Capital Management), at $2.77M. In that quarter, 1 of them opened or added to the position. No open-market insider trades in it were filed over the last 30 days.
Written from the data on this page: SEC filings (13F, Form 4, annual reports) and market prices.
Year by year, from the annual reports; dividends from the payments themselves.
Bars are year-end balances; lines are what happened during the year.
Major managers that reported this stock in their latest 13F.
▲ +129.7% over 5Y.
today you would have $2,369.05▲ +136.9%
Dividends reinvested, splits accounted for. Past prices say what happened, not what will.
The last 13 closed years, each at that year’s closing price and reported numbers.
| Indicator | Median | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year-end price | $121.30 | $104.91 | $80.48 | $79.79 | $85.75 | $66.35 | $73.85 | $48.80 | $54.74 | $47.69 | $31.79 | $25.00 | $16.54 | |
| P/E | 12.4x | 12.4x | 13.0x | 19.7x | 12.2x | 15.8x | 11.6x | 13.4x |
Seven formulas applied to the reported numbers, each with its assumption next to the result. None of them predicts a price.
Square root of 22.5 × earnings × book value. Blind to intangibles, so it undervalues software and brands.
Earnings growing 11.4% a year plus a 0.8% dividend yield. Growth capped at 25%.
Median P/E of 13.2 among peers in the sector.
Median P/E of 12.4 across this company’s own years on record.
Cash flow growing 11.4% a year for 10 years, discounted at 10%, then 2.5% forever.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Companies of similar size in Financial Services, for comparison. The columns are the same ones above, in the same order.
| Stock | Price | P/E | P/B | Dividend yield | ROE | Market cap |
|---|---|---|---|---|---|---|
| FFBCFirst Financial Bancorp | $32.47 | 11.2x | 1.1x | 3.11% | 10.29% | $3.41B |
| MIAXMiami International Holdings Inc | $34.99 | 33.6x | 3.0x | 0.00% | 18.14% | $3.47B |
| GNWGenworth Financial Inc | $8.94 | 17.9x | 0.4x | 0.00% | 3.40% | $3.38B |
| SFNCSimmons First National Corp |
| 11.8x |
| 16.4x |
| 20.1x |
| 12.4x |
| 11.1x |
| 4.4x |
| P/S | 4.0x | 6.6x | 4.6x | 4.3x | 3.9x | 5.2x | 3.4x | 4.6x | 3.2x | 4.0x | 4.3x | 2.3x | 1.8x | 1.1x |
| P/B | 1.2x | 2.1x | 1.4x | 1.2x | 1.2x | 1.3x | 1.2x | 1.5x | 1.2x | 1.5x | 1.5x | 1.2x | 0.9x | 0.7x |
| EPS | $9.78 | $8.05 | $4.08 | $6.56 | $5.44 | $5.70 | $5.52 | $4.12 | $3.33 | $2.37 | $2.57 | $2.25 | $3.80 |
| Dividend yield | 1.02% | 1.02% | 1.04% | 0.93% | — | — | — | — | — | — | — | — | — | — |
| Payout | 13.54% | 12.68% | 13.54% | 18.38% | — | — | — | — | — | — | — | — | — | — |
| Profit margin | 26.92% | 38.44% | 35.41% | 22.17% | 31.64% | 26.92% | 31.32% | 32.25% | 28.08% | 24.85% | 19.47% | 19.34% | 17.74% | 25.77% |
| ROE | 10.44% | 11.98% | 10.58% | 5.92% | 9.69% | 6.80% | 11.15% | 10.58% | 10.61% | 9.10% | 6.69% | 10.44% | 8.96% | 15.39% |
Median of the years shown; P/E years above 200x are left out.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
The average of the method families that answered, not of the seven numbers: four of the seven start from the same earnings per share.
5 methods answered, across 2 families.
Room for errors in the reported numbers.
+0.5% from the average.
Models, not forecasts, and not investment advice. How each formula works →
| $23.32 |
| 12.1x |
| 1.0x |
| 3.69% |
| 7.77% |
| $3.37B |
| MCHBMechanics Bancorp | $15.19 | 11.3x | 1.3x | 10.27% | 11.02% | $3.36B |
| TOWNTowne Bank - Common Stock | $36.74 | 18.0x | 1.1x | 4.90% | 12.22% | $3.36B |