1,806,665 Shares in First Capital, Inc. $FCAP Purchased by William Blair Investment Management LLC

Key Points

• William Blair Investment Management acquired 1.81 million First Capital shares worth approximately $35.2 million, giving it a 53.93% stake. BlackRock and several other institutions also initiated or increased positions.
• First Capital reported quarterly EPS of $1.43 on $14.29 million in revenue, with a 26.79% net margin and 13.39% return on equity.
• The company raised its quarterly dividend to $0.32 per share, equivalent to $1.28 annually and a 2.1% yield. The stock was rated “Moderate Buy” overall, with one Buy and one Hold recommendation.

William Blair Investment Management LLC acquired a new stake in First Capital, Inc. (NASDAQ:FCAP - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,806,665 shares of the savings and loans company's stock, valued at approximately $35,176,000. William Blair Investment Management LLC owned about 53.93% of First Capital at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of First Capital in the second quarter valued at approximately $33,057,000. Bank of New York Mellon Corp acquired a new position in First Capital during the second quarter worth $1,062,000. Geode Capital Management LLC grew its holdings in First Capital by 109.7% in the 2nd quarter. Geode Capital Management LLC now owns 78,226 shares of the savings and loans company's stock valued at $3,231,000 after buying an additional 40,918 shares in the last quarter. Deutsche Bank AG purchased a new stake in First Capital in the 2nd quarter valued at $435,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of First Capital in the 2nd quarter worth $439,000. 11.65% of the stock is owned by hedge funds and other institutional investors.

First Capital Price Performance

First Capital stock opened at $62.41 on Friday. The firm has a 50 day simple moving average of $63.32 and a 200-day simple moving average of $57.29. First Capital, Inc. has a 1-year low of $36.79 and a 1-year high of $71.00. The stock has a market cap of $208.45 million, a price-to-earnings ratio of 11.29 and a beta of 0.71.

First Capital (NASDAQ:FCAP - Get Free Report) last announced its quarterly earnings results on Friday, July 24th. The savings and loans company reported $1.43 earnings per share (EPS) for the quarter. The business had revenue of $14.29 million during the quarter. First Capital had a net margin of 26.79% and a return on equity of 13.39%.

First Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be given a $0.32 dividend. The ex-dividend date is Friday, September 11th. This is a positive change from First Capital's previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a yield of 2.1%. First Capital's dividend payout ratio (DPR) is currently 22.42%.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "hold (c)" rating on shares of First Capital in a report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy".

First Capital Company Profile

First Capital, Inc is a closed-end, non-diversified management investment company organized as a business development company (BDC) under the Investment Company Act of 1940. Listed on the NASDAQ under the ticker FCAP, the firm specializes in providing debt and equity financing solutions to U.S. middle-market companies. External management is provided by First Capital Asset Management, LLC, leveraging senior credit expertise to structure tailored financing that supports growth initiatives, recapitalizations and acquisitions.

The company's investment portfolio comprises senior secured loans, second-lien and subordinated debt, as well as equity co-investments.

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