Nicolet Bankshares trades at $171.38 and has moved in lockstep with the market. Its shares have returned 15.3% over the last six months while the S&P 500 has gained 14.2%.
Is now a good time to buy NIC? Find out in our full research report, it’s free.
Why Are We Positive on Nicolet Bankshares?
Starting as Green Bay Financial Corporation in 2000 before rebranding in 2002, Nicolet Bankshares (NYSE: NIC) is a regional bank holding company that provides commercial, agricultural, and consumer banking services primarily in Wisconsin, Michigan, and Minnesota.
1. Net Interest Income Skyrockets, Fueling Growth Opportunities
While banks generate revenue from multiple sources, investors view net interest income as a cornerstone — its predictable, recurring characteristics stand in sharp contrast to the volatility of one-time fees.
Nicolet Bankshares’s net interest income has grown at a 24.8% annualized rate over the last five years, much better than the broader banking industry and faster than its total revenue.
2. Increasing Net Interest Margin Juices Financials
Net interest margin (NIM) serves as a critical gauge of a bank’s fundamental profitability by showing the spread between interest income and interest expenses. It’s essential for understanding whether a firm can sustainably generate returns from its lending operations.
Over the past two years, Nicolet Bankshares’s net interest margin averaged 3.8%, climbing by 69 basis points (100 basis points = 1 percentage point) over that period.
This expansion was a tailwind for its net interest income, and while prevailing interest rates matter the most for industry net interest margins, banks that consistently increase this figure generally boast higher-earning loan books (all else equal such as the risk of those loans) or provide differentiated services that give them the ability to charge higher rates (pricing power).
3. EPS Surges Higher Over the Last Two Years
While long-term earnings trends give us the big picture, we also track EPS over a shorter period because it can provide insight into an emerging theme or development for the business.
Nicolet Bankshares’s astounding 26.2% annual EPS growth over the last two years aligns with its revenue trend. This tells us it maintained its per-share profitability as it expanded.
Final Judgment
These are just a few reasons why we think Nicolet Bankshares is a great business. At $171.38 per share (or 1.5× forward P/B), is now the time to initiate a position? See for yourself in our full research report, it’s free.
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