First Capital, Inc. (NASDAQ: FCAP) experienced a notable increase in short interest during January, rising by 25.2% to reach a total of 90,591 shares as of January 30, 2024. This figure marks an increase from the 72,379 shares reported on January 15. Given the average daily trading volume of 4,901 shares, the short-interest ratio stands at 18.5 days, indicating a relatively high level of bearish sentiment among investors. Currently, approximately 2.8% of the company’s shares are sold short.
Institutional investors have been active in altering their holdings of First Capital. Among them, the Police & Firemen’s Retirement System of New Jersey established a new position valued at $28,000 during the second quarter of 2023. CWM LLC also acquired shares worth approximately $31,000 in the same period. Notably, JPMorgan Chase & Co. significantly increased its stake by an astonishing 30,940.0%, now holding 1,552 shares valued at $64,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. and Bank of America Corp DE made similar moves, with Bank of America boosting its stake by 215.8% to 2,122 shares valued at $88,000. Institutional ownership now accounts for 11.65% of First Capital’s shares.
Analysts Assess First Capital’s Market Position
Several research firms have provided insights into First Capital’s stock performance. Wall Street Zen upgraded the stock to a “hold” rating on January 10, 2024, while Weiss Ratings reiterated a similar rating on December 29, 2023. Currently, one investment analyst has assigned a “hold” rating to the stock, leading to an average rating of “hold” according to MarketBeat.com.
On the trading front, First Capital shares declined by 1.6% on a recent trading day, reaching $52.22. The trading volume amounted to 3,171 shares, which is below the stock’s average volume of 6,309 shares. With a market capitalization of $174.94 million, First Capital currently maintains a price-to-earnings (P/E) ratio of 10.66 and a beta of 0.60. Over the past year, the stock has fluctuated between a low of $33.73 and a high of $71.00. The 50-day moving average price is noted at $56.46, while the 200-day moving average stands at $47.70.
Recent Earnings Performance
First Capital last reported its quarterly earnings on January 23, 2024, showcasing earnings per share (EPS) of $1.46 for the quarter, with total revenue reaching $13.49 million. The company achieved a net margin of 25.06% and a return on equity of 12.95%, indicating strong financial performance relative to its industry peers.
Founded as a closed-end, non-diversified management investment company, First Capital, Inc. operates as a business development company under the Investment Company Act of 1940. The firm focuses on providing debt and equity financing solutions to U.S. middle-market companies. Its investment strategy includes senior secured loans, second-lien and subordinated debt, along with equity co-investments, managed by First Capital Asset Management, LLC.
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