NICOLET BANKSHARES, INC
At today's price, NICOLET BANKSHARES, INC (NIC) is priced for 12.2% return on equity. boothcheck doesn't publish a fair value or a price target; it shows what the price assumes, so you can judge whether that bar is too high. Built from SEC EDGAR filings.
• Nicolet Bankshares is a Midwest community bank that grows largely by acquisition, and it just closed its largest deal yet, buying MidWestOne in February 2026 and lifting total assets to $15.6 billion from $9.2 billion at year end. [Source: Nicolet Q1 2026 results] • The biggest near-term risk is integration and the cost of the deal: reported earnings fell to 81 cents a share as the bank absorbed $40.7 million of merger expenses and a higher credit-loss provision, so the headline numbers unders
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227 institutional managers reported holding NIC in 13F filings for the quarter ended 2026-03-31. Together they hold about 53% of the company; the top 10 hold 30%. 65 opened new positions that quarter. Held by BlackRock, Dimensional Fund Advisors, State Street, among others. On the short side, 832k shares were sold short as of the 2026-06-15 count, about 4% of shares outstanding (3.1 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
NIC's share count grew 84.1% over the past five years even with $217.55M spent on repurchases. It pays a dividend, and has for 3 years running, raised 2 years straight; the current rate is $1.24 a share annually. Cash returned over the past three years: $49.52M in dividends and $109.10M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at NIC over the trailing three years: 2023: 2 buys totaling $2k; 2025: 6 buys totaling $391k. 23 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
NIC's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-05 | +9.4% | -15.6% |
| 2023-11-08 | -2.3% | +7.5% |
| 2024-02-29 | +0.5% | -0.9% |
| 2024-05-09 | -2.4% | +4.2% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
NIC's latest 8-K filings: 2026-05-18 (items 5.07); 2026-04-21 (items 2.02, 7.01, 9.01); 2026-02-20 (items 2.01, 5.02, 7.01, 9.01); 2026-01-26 (items 5.02, 5.07, 7.01); 2026-01-20 (items 2.02, 7.01, 8.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Nothing here is investment advice.
Last analyzed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.