Piper Sandler Remains a Hold on Nicolet Bankshares (NIC)

Nicolet Bankshares, Inc. (NYSE:NIC) is one of the most undervalued small cap stocks to invest in now. Piper Sandler analyst Nathan Race maintained a Hold rating on Nicolet Bankshares, Inc. (NYSE:NIC) on October 24, setting a price target of $140.

The rating update followed the company’s announcement on October 23 in conjunction with MidWestOne Financial Group, Inc., the execution of a definitive merger agreement, according to which Nicolet Bankshares, Inc. (NYSE:NIC) will acquire MidWestOne and its wholly-owned banking subsidiary, MidWestOne Bank.

Management reported that the pro forma total assets of the combined company would come up to $15.3 billion, deposits of $13.1 billion, and loans of $11.3 billion, based on financial results as of September 30. Nicolet Bankshares, Inc. (NYSE:NIC) will have over 110 branches upon the closing of the transaction, along with loan production offices across Denver, the Upper Midwest, Florida, and Colorado, and Naples, among other areas.

Nicolet Bankshares, Inc. (NYSE:NIC) further reported that the terms of the agreement have been unanimously approved by the board of directors of both companies, with Nicolet Bankshares, Inc. (NYSE:NIC) exchanging shares of its common stock in an all-stock transaction for all of the outstanding shares of MidWestOne common stock.

MidWestOne shareholders “will be entitled to receive 0.3175 of a share of Nicolet common stock for each share of MidWestOne common stock they own upon the effective time of the merger, for aggregate merger consideration valued at approximately $864 million, or $41.37 per share, based on Nicolet’s closing stock price of $130.31 as of October 22, 2025”.

Nicolet Bankshares, Inc. (NYSE:NIC) provides commercial and consumer banking services through its subsidary, offering brokerage, ancillary banking-related, lending and deposit gathering, trust, and other investment management services and products. The company also provides commercial-related and residential real estate loans.

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Disclosure: None. This article is originally published at Insider Monkey.