What is the 13F Pro Quality Score for NIC?

13F Pro ranks NICOLET BANKSHARES INC (NIC) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View NIC's current score at https://13fpro.ai/company/NIC (free sign-up required for the full ranking).

Which hedge funds own the most NIC stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of NIC include BlackRock,, STATE STREET, DIMENSIONAL FUND ADVISORS. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/company/NIC as soon as new 13F filings post.

Where does 13F Pro source NIC data?

All NICOLET BANKSHARES INC fundamentals and ownership data come directly from SEC EDGAR. NICOLET BANKSHARES INC files with the SEC under CIK 1174850. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is NIC in?

NICOLET BANKSHARES INC (NIC) is classified in the Financials sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/financials.

What drives NIC's revenue?

Per NICOLET BANKSHARES INC's latest 10-Q filed with the SEC on 2026-07-31, the biggest revenue drivers are: Net interest income ($141.5M, +88% YoY); Noninterest income ($36.3M, +76% YoY); Wealth management fee income ($11.7M, +72% YoY). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/company/NIC.

What are NIC's largest expenses?

NICOLET BANKSHARES INC's latest 10-Q reports these as the largest expense items: Personnel ($50.6M, +74% YoY); Occupancy, equipment and office ($16.4M, +80% YoY); Other noninterest expense ($10.5M, +258% YoY). Sourced directly from SEC EDGAR filing text for Q2 FY2026 (quarter ended June 30, 2026).

How often is NIC research updated on 13F Pro?

NIC's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

NICOLET BANKSHARES INC(NIC)Stock Analysis

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13F Pro Quality Score

67.6/100

Rank #355 of 2,961 stocksTOP 25%

View Financials peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Nov 14, 2026.

Revenue Growth

86.0/100

Profitability

83.7/100

Balance Sheet

46.5/100

Earnings Quality

47.9/100

Free Cash Flow

87.3/100

Institutional Flow

94.1/100

Revenue Scale

38.0/100

Dilution Risk

41.2/100

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Why NIC Scores 68/100

exact factor attribution · 2026-09-11

NIC's composite is driven by revenue growth and profitability, held back by scale. Bars show each factor's exact push vs. a median company, using the same weights the ranking engine applies.

Revenue growth

+9.6 pts

86th pct

Profitability

+6.7 pts

84th pct

Free cash flow

+5.6 pts

87th pct

Institutional flow

+2.9 pts

94th pct

Earnings growth

+1.8 pts

78th pct

Earnings quality

-0.2 pts

48th pct

Capital efficiency

-0.5 pts

47th pct

Shareholder dilution

-0.6 pts

41th pct

Scale

-2.4 pts

38th pct

Factor percentiles are cross-sectional ranks across the ~2,800-stock scored universe, computed from SEC EDGAR filings. Not investment advice.

NIC Stock Analysis & AI Quality Score

Data updated 2026-09-11

AI stock analysis and institutional research for NICOLET BANKSHARES INC (NIC), a Financials sector company. 13F Pro's AI-powered ranking engine scores NIC at 67.6/100 on a 32-signal composite quality model, placing it at rank #355 of 2,961 stocks — the top 25% of the AI-ranked universe. NIC scores in the top quartile across institutional flow (94.1), free cash flow (87.3), revenue growth (86.0). Areas of concern include revenue scale (38.0), which score below median versus the broader universe. Shareholder dilution risk is elevated at 41.2/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), NICOLET BANKSHARES INC reports quarterly revenue of $177.8M, net income of $56.9M, an operating margin of 40.8%. Top institutional holders of NIC by reported 13-F value include BlackRock, STATE STREET, DIMENSIONAL FUND ADVISORS, based on the most recent SEC filings. NIC trades on the NYSE exchange and files with the SEC under CIK 1174850. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate NIC daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for NICOLET BANKSHARES INC directly from SEC EDGAR. NICOLET BANKSHARES INC's 13F Pro composite quality score has ranged between 37 and 68 since 2026, currently 67.6 — an improving long-term trajectory across 8 quarterly and live scoring snapshots.

What's Driving NIC's Business? Latest 10-Q Breakdown

AI-extracted from NICOLET BANKSHARES INC's 10-Q filed 2026-07-31 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Net income rose to $56.9M ($2.62 diluted EPS) as the MidWest One acquisition nearly doubled net interest income to $141.5M, while merger and debt-extinguishment costs kept noninterest expense up 108% YoY.

Biggest Revenue Drivers

Net interest income$141.5M+88% YoY

Increased volumes from the MidWest One acquisition plus a 42 bps net interest margin expansion to 4.14%

Noninterest income$36.3M+76% YoY

Growth in most core categories primarily due to the acquisition of MidWest One

Biggest Revenue Drivers

Net interest income$141.5M+88% YoY

Increased volumes from the MidWest One acquisition plus a 42 bps net interest margin expansion to 4.14%

Noninterest income$36.3M+76% YoY

Growth in most core categories primarily due to the acquisition of MidWest One

Within Noninterest income

Wealth management fee income$11.7M+72% YoY

Growth in accounts and assets under management from the MidWest One acquisition

Card interchange income$6.3M+71% YoY

Mostly due to the MidWest One acquisition

Largest Expense Items

Personnel$50.6M+74% YoY

Larger employee base due to the MidWest One acquisition, plus merit increases

Occupancy, equipment and office$16.4M+80% YoY

Expanded footprint resulting from the MidWest One acquisition

Other noninterest expense$10.5M+258% YoY

Includes a $5M loss on early redemption of junior subordinated debentures plus higher legal/professional expense

Data processing$7.8M+66% YoY

Mostly due to the MidWest One acquisition

Margins: Net interest margin was 4.14% in Q2 2026, up 42 bps from 3.72% a year earlier, helped by loan purchase accounting accretion (23 bps) and a 57 bps drop in cost of interest-bearing liabilities to 2.29%.

Watch Items from the Filing

Merger-related expense was $7.4M in Q2 ($48.1M year-to-date) and the company recognized a $5M loss on early extinguishment of trust preferred debentures tied to integrating MidWest One.
Nonperforming assets rose to $75.0M (0.49% of total assets) at June 30, 2026 from $32.3M (0.35%) at December 31, 2025, primarily due to the MidWest One acquisition.
Potential problem loans jumped to $190M (2% of loans) from $71M (1%) at year-end 2025, primarily due to the MidWest One acquisition.
Estimated uninsured deposits were $4.3B, or 34% of total deposits, at June 30, 2026, up from $2.5B (32%) at December 31, 2025.
Board increased the common stock repurchase authorization by $150M on July 21, 2026, after only $17M remained available under the prior program.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q2 2026

$177.8M

Net Income

Q2 2026

$56.9M

Free Cash Flow

Q2 2026

$89.3M

Operating Margin

Q2 2026

40.8%

ROIC

Q2 2026

12.3%

D/E Ratio

Q2 2026

0.04

Period

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro

Revenue

+11.9% YoY

$392.0MFY 2025

FY22 $297.9MFY23 $277.5MFY24 $350.3MFY25 $392.0M

Net Income

+21.5% YoY

$150.7MFY 2025

FY22 $94.3MFY23 $61.5MFY24 $124.1MFY25 $150.7M

EPS (Diluted)

+21.5% YoY

$9.78FY 2025

FY22 $6.56FY23 $4.08FY24 $8.05FY25 $9.78

Total Assets

+4.4% YoY

$9.19BFY 2025

FY22 $8.76BFY23 $8.47BFY24 $8.80BFY25 $9.19B

Total Debt

-16.4% YoY

$134.9MFY 2025

FY22 $542.3MFY23 $166.9MFY24 $161.4MFY25 $134.9M

Op. Cash Flow

+14.8% YoY

$153.5MFY 2025

FY22 $117.4MFY23 $108.0MFY24 $133.7MFY25 $153.5M

Free Cash Flow

+27.9% YoY

$149.4MFY 2025

FY22 $105.2MFY23 $89.4MFY24 $116.8MFY25 $149.4M

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$392.0M +11.9%	$350.3M +26.3%	$277.5M -6.8%	$297.9M +32.2%	$225.3M +17.4%	$192.0M
Net Income	$150.7M +21.5%	$124.1M +101.7%	$61.5M -34.7%	$94.3M +55.4%	$60.7M +0.9%	$60.1M
EPS (Diluted)	$9.78 +21.5%	$8.05 +97.3%	$4.08 -37.8%	$6.56 +20.6%	$5.44 -4.6%	$5.70
Total Assets	$9.19B +4.4%	$8.80B +3.9%	$8.47B -3.4%	$8.76B +13.9%	$7.70B +69.1%	$4.55B
Total Debt	$134.9M -16.4%	$161.4M -3.3%	$166.9M -69.2%	$542.3M +150.0%	$216.9M +302.7%	$53.9M
Operating Cash Flow	$153.5M +14.8%	$133.7M +23.9%	$108.0M -8.0%	$117.4M +20.2%	$97.7M +23.8%	$78.9M
Free Cash Flow	$149.4M +27.9%	$116.8M +30.7%	$89.4M -15.0%	$105.2M +23.9%	$84.9M +24.6%	$68.1M

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Available Research

13F Pro tracks comprehensive data for NICOLET BANKSHARES INC including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of NIC

BlackRock, Inc.
$500.7M3,027,246 sh
STATE STREET CORP
$194.2M1,174,560 sh
DIMENSIONAL FUND ADVISORS LP
$136.3M823,902 sh
VANGUARD CAPITAL MANAGEMENT LLC
$135.3M818,051 sh
GEODE CAPITAL MANAGEMENT, LLC
$83.5M504,741 sh
WESTWOOD HOLDINGS GROUP INC
$74.5M450,659 sh
GOLDMAN SACHS GROUP INC
$65.0M392,808 sh
AMERICAN CENTURY COMPANIES INC
$59.7M361,263 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$59.2M358,093 sh
Boston Partners
$51.5M311,319 sh

Fund	Value	Shares
BlackRock, Inc.	$500.7M	3,027,246
STATE STREET CORP	$194.2M	1,174,560
DIMENSIONAL FUND ADVISORS LP	$136.3M	823,902
VANGUARD CAPITAL MANAGEMENT LLC	$135.3M	818,051
GEODE CAPITAL MANAGEMENT, LLC	$83.5M	504,741
WESTWOOD HOLDINGS GROUP INC	$74.5M	450,659
GOLDMAN SACHS GROUP INC	$65.0M	392,808
AMERICAN CENTURY COMPANIES INC	$59.7M	361,263
VANGUARD PORTFOLIO MANAGEMENT LLC	$59.2M	358,093
Boston Partners	$51.5M	311,319

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Is NIC a good stock to buy?

13F Pro's AI-powered analysis of NICOLET BANKSHARES INC (NIC) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Financials sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for NIC are available on the NIC stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing. NIC is classified as a mid company.

Which hedge funds own NIC?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling NIC. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of NICOLET BANKSHARES INC's investment landscape.