First Capital (NASDAQ:FCAP) Stock Price Breaks Above 50-Day Moving Average - Here's Why

Key Points

• First Capital shares rose above their 50-day moving average, reaching $63.29 versus the average of $62.72, and were up 0.9% on the day.
• Weiss Ratings upgraded the stock from “hold” to “buy”; both analysts covering the company currently rate it a Buy.
• The company reported quarterly earnings of $1.53 per share and raised its quarterly dividend from $0.31 to $0.32, an annualized $1.28 per share and a 2.0% yield.

First Capital, Inc. (NASDAQ:FCAP - Get Free Report) shares passed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $62.72 and traded as high as $63.29. First Capital shares last traded at $63.29, with a volume of 18,240 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of First Capital from a "hold (c)" rating to a "buy (b)" rating in a research report on Friday, August 28th. Two research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy".

First Capital Trading Up 0.9%

The firm has a market capitalization of $211.39 million, a PE ratio of 11.06 and a beta of 0.74. The business's 50 day simple moving average is $62.72 and its two-hundred day simple moving average is $58.67.

First Capital (NASDAQ:FCAP - Get Free Report) last posted its earnings results on Friday, October 23rd. The savings and loans company reported $1.53 earnings per share for the quarter. First Capital had a return on equity of 13.67% and a net margin of 27.14%. The company had revenue of $14.80 million for the quarter.

First Capital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 11th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.0%. This is a positive change from First Capital's previous quarterly dividend of $0.31. The ex-dividend date was Friday, September 11th. First Capital's dividend payout ratio (DPR) is presently 22.38%.

Institutional Trading of First Capital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. boosted its stake in shares of First Capital by 13.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,854 shares of the savings and loans company's stock worth $176,000 after acquiring an additional 343 shares during the last quarter. Bank of America Corp DE grew its position in shares of First Capital by 20.1% during the 1st quarter. Bank of America Corp DE now owns 5,035 shares of the savings and loans company's stock valued at $250,000 after acquiring an additional 841 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of First Capital in the 2nd quarter worth $512,000. Empowered Funds LLC increased its stake in shares of First Capital by 6.4% in the 1st quarter. Empowered Funds LLC now owns 19,452 shares of the savings and loans company's stock worth $965,000 after purchasing an additional 1,164 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of First Capital by 3.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 24,849 shares of the savings and loans company's stock worth $1,234,000 after purchasing an additional 738 shares in the last quarter. 11.65% of the stock is owned by hedge funds and other institutional investors.

First Capital Company Profile

First Capital, Inc. is a bank holding company headquartered in Corydon, Indiana. Through its subsidiary, First Harrison Bank, the company provides community banking services to individuals, families, businesses and organizations. First Harrison Bank offers deposit products, residential and commercial real estate lending, consumer loans, commercial loans and other financing solutions. Its services also include online and mobile banking, cash-management tools and related banking products designed to support personal and business financial needs.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.