Is NIC or NWBI more undervalued in 2026?

CirclFi compares Nicolet Bankshares Inc. (NIC) and Northwest Bancshares, Inc. (NWBI) using 13 institutional-grade valuation models. NIC has a Quality of Company score of 9.0/10 while NWBI scores 8.5/10.

Which is a better buy — NIC or NWBI?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do NIC and NWBI valuations compare?

NIC at $140.27 and NWBI at $14.15 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

NIC vs NWBI Valuation Comparison 2026 — Intrinsic Value Analysis

NIC

National Commercial Banks

Nicolet Bankshares Inc.

Quality

9.0

out of 10

Value Trap

SAFE

Price

$140.27

Last close

Models

12/13

Active

NWBI

National Commercial Banks

Northwest Bancshares, Inc.

Quality

8.5

out of 10

Value Trap

SAFE

Price

$14.15

Last close

Models

11/13

Active

Model-by-Model Comparison

Model	Type	NIC Fair Value	NIC Upside	NWBI Fair Value	NWBI Upside
Bayesian DCF	Intrinsic	$57.53	-59.0%	$7.17	-49.3%
Earnings Power Value	Intrinsic	$76.54	-45.4%	$10.85	-23.3%
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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NIC vs NWBI — Which Stock Is More Undervalued?

NIC scores higher with a 9.0/10 quality rating vs NWBI's 8.5/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Nicolet Bankshares Inc. (NIC) and Northwest Bancshares, Inc. (NWBI) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

NIC currently trades at $140.27 with a QOC of 9.0/10, while NWBI trades at $14.15 with a QOC of 8.5/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).