NasdaqCM:NCBS

Stock Analysis Report

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Executive Summary

Nicolet Bankshares, Inc. operates as the holding company for Nicolet National Bank that provides commercial and retail banking services for businesses and individuals.


Snowflake Analysis

Flawless balance sheet and slightly overvalued.


Similar Companies

Share Price & News

How has Nicolet Bankshares's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: NCBS has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

4.7%

NCBS

5.6%

US Banks

0.7%

US Market


1 Year Return

-3.3%

NCBS

-13.5%

US Banks

20.1%

US Market

Return vs Industry: NCBS exceeded the US Banks industry which returned -14.6% over the past year.

Return vs Market: NCBS underperformed the US Market which returned 17.1% over the past year.


Shareholder returns

NCBSIndustryMarket
7 Day4.7%5.6%0.7%
30 Day18.1%8.1%6.4%
90 Day22.5%20.7%20.1%
1 Year-3.3%-3.3%-10.5%-13.5%22.6%20.1%
3 Year15.0%15.0%-7.3%-14.8%45.1%35.7%
5 Year83.6%83.6%18.8%4.3%79.7%60.3%

Price Volatility Vs. Market

How volatile is Nicolet Bankshares's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Nicolet Bankshares undervalued compared to its fair value and its price relative to the market?

15.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: NCBS ($60.6) is trading below our estimate of fair value ($71.82)

Significantly Below Fair Value: NCBS is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: NCBS is poor value based on its PE Ratio (12.3x) compared to the US Banks industry average (10.1x).

PE vs Market: NCBS is good value based on its PE Ratio (12.3x) compared to the US market (19.1x).


Price to Earnings Growth Ratio

PEG Ratio: NCBS's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: NCBS is overvalued based on its PB Ratio (1.2x) compared to the US Banks industry average (0.8x).


Next Steps

Future Growth

How is Nicolet Bankshares forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

-9.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: NCBS's earnings are forecast to decline over the next 3 years (-9.4% per year).

Earnings vs Market: NCBS's earnings are forecast to decline over the next 3 years (-9.4% per year).

High Growth Earnings: NCBS's earnings are forecast to decline over the next 3 years.

Revenue vs Market: NCBS's revenue is expected to decline over the next 3 years (-10.2% per year).

High Growth Revenue: NCBS's revenue is forecast to decline over the next 3 years (-10.2% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: NCBS's Return on Equity is forecast to be low in 3 years time (7.6%).


Next Steps

Past Performance

How has Nicolet Bankshares performed over the past 5 years?

32.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: NCBS has high quality earnings.

Growing Profit Margin: NCBS's current net profit margins (29.6%) are lower than last year (32.1%).


Past Earnings Growth Analysis

Earnings Trend: NCBS's earnings have grown significantly by 32.8% per year over the past 5 years.

Accelerating Growth: NCBS's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: NCBS had negative earnings growth (-1.4%) over the past year, making it difficult to compare to the Banks industry average (-3%).


Return on Equity

High ROE: NCBS's Return on Equity (9.4%) is considered low.


Next Steps

Financial Health

How is Nicolet Bankshares's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: NCBS's Assets to Equity ratio (8.5x) is low.

Allowance for Bad Loans: NCBS has a sufficient allowance for bad loans (243%).

Low Risk Liabilities: 88% of NCBS's liabilities are made up of primarily low risk sources of funding.

Loan Level: NCBS has an appropriate level of Loans to Assets ratio (61%).

Low Risk Deposits: NCBS's Loans to Deposits ratio (79%) is appropriate.

Level of Bad Loans: NCBS has an appropriate level of bad loans (0.4%).


Next Steps

Dividend

What is Nicolet Bankshares's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate NCBS's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate NCBS's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if NCBS's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if NCBS's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of NCBS's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

18.6yrs

Average management tenure


CEO

Bob Atwell (63 yo)

20.58yrs

Tenure

US$2,798,144

Compensation

Mr. Robert B. Atwell, also known as Bob, has been the Chairman, Chief Executive Officer and President of Nicolet Bankshares Inc. since May 24, 2016. Mr., Atwell served as a Co-Chairman, Co-Chief Executive ...


CEO Compensation Analysis

Compensation vs Market: Bob's total compensation ($USD2.80M) is about average for companies of similar size in the US market ($USD2.99M).

Compensation vs Earnings: Bob's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Robert Atwell
Chairman20.58yrsUS$2.80m0.59%
$ 3.7m
Ann Lawson
Chief Financial Officer11.5yrsUS$695.14k0.29%
$ 1.8m
Michael Daniels
EVP, Secretary & Director20.58yrsUS$2.80m0.85%
$ 5.3m
Eric Radzak
Corporate Development Officer & Investor Relationsno datano datano data

18.6yrs

Average Tenure

57.5yo

Average Age

Experienced Management: NCBS's management team is seasoned and experienced (18.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Robert Atwell
Chairman20.58yrsUS$2.80m0.59%
$ 3.7m
Michael Daniels
EVP, Secretary & Director20.58yrsUS$2.80m0.85%
$ 5.3m
Terrence Fulwiler
Independent Director4.33yrsUS$46.48k0.17%
$ 1.1m
Andrew Hetzel
Independent Director2.25yrsUS$47.98k0.051%
$ 318.4k
Susan Merkatoris
Independent Director17.58yrsUS$53.23k0.97%
$ 6.1m
Robert Weyers
Director20.58yrsUS$56.23k1.24%
$ 7.8m
Donald Long
Independent Director20.58yrsUS$50.98k0.87%
$ 5.5m
Dustin McClone
Independent Director3.33yrsUS$47.98k0.014%
$ 88.0k
Oliver Smith
Independent Director3.33yrsUS$48.73k4.24%
$ 26.7m
Christopher Ghidorzi
Independent Director7.33yrsUS$60.98k0.042%
$ 264.1k
John Dykema
Independent Director14.58yrsUS$50.23k0.68%
$ 4.3m
Rachel Campos-Duffy
Independent Director1.58yrsUS$46.48k0.016%
$ 98.9k

11.0yrs

Average Tenure

56.5yo

Average Age

Experienced Board: NCBS's board of directors are seasoned and experienced ( 11 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: NCBS insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 11.6%.


Top Shareholders

Company Information

Nicolet Bankshares, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Nicolet Bankshares, Inc.
  • Ticker: NCBS
  • Exchange: NasdaqCM
  • Founded: 2000
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$630.139m
  • Shares outstanding: 10.40m
  • Website: https://www.nicoletbank.com

Number of Employees


Location

  • Nicolet Bankshares, Inc.
  • 111 North Washington Street
  • Green Bay
  • Wisconsin
  • 54301
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
NCBSNasdaqCM (Nasdaq Capital Market)YesCommon StockUSUSDMay 2013

Biography

Nicolet Bankshares, Inc. operates as the holding company for Nicolet National Bank that provides commercial and retail banking services for businesses and individuals. The company accepts checking, savings ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/13 00:29
End of Day Share Price2020/08/12 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.