Overview

* Nicolet Q2 net income reaches record $36 mln, up from $33 mln prior qtr

* Net interest margin rose to 3.72%

* Company repurchased 257,402 shares for $30 mln during Q2

Outlook

* Company sees stable interest rates supporting net interest margin growth

Result Drivers

* LOAN GROWTH - "Solid" quarter-over-quarter loan growth of $94 million, primarily in commercial-based loans

* MORTGAGE REVENUES - Seasonal growth in mortgage revenues driven by housing demand in the upper Midwest

* NET INTEREST MARGIN - Net interest margin increased to 3.72%, reflecting stable interest rates

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 EPS $2.34

Q2 Net $36.04

Income mln

Q2 Net $75.11

Interest mln

Income

Q2 Beat $44.77 $41.60

Pretax mln mln (4

Profit Analysts

)

Q2 $1.05

Credit mln

Loss

Provisio

n

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the banks peer group is "buy."

* Wall Street's median 12-month price target for Nicolet Bankshares Inc ( NIC ) is $125.00, about 4.4% below its July 14 closing price of $130.46

* The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 13 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)