Punch & Associates Investment Management Inc. Takes $28.17 Million Position in First Capital, Inc. $FCAP

Punch & Associates Investment Management Inc. bought a new stake in shares of First Capital, Inc. (NASDAQ:FCAP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,446,818 shares of the savings and loans company’s stock, valued at approximately $28,170,000. First Capital comprises about 1.4% of Punch & Associates Investment Management Inc.’s investment portfolio, making the stock its 22nd largest holding. Punch & Associates Investment Management Inc. owned about 43.32% of First Capital as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in FCAP. Philadelphia Financial Management of San Francisco LLC purchased a new stake in First Capital during the second quarter valued at about $6,169,128,000. Bank of America Corp DE bought a new position in shares of First Capital during the second quarter valued at about $1,831,000. Odyssean LLC purchased a new position in shares of First Capital in the second quarter worth about $513,000. Man Group plc purchased a new position in shares of First Capital in the second quarter worth about $1,420,000. Finally, Jupiter Topco LLC bought a new stake in shares of First Capital in the 2nd quarter valued at about $268,000. Hedge funds and other institutional investors own 11.65% of the company’s stock.

First Capital Stock Down 1.1%

Shares of First Capital stock opened at $61.34 on Thursday. The company’s fifty day simple moving average is $63.22 and its two-hundred day simple moving average is $57.30. First Capital, Inc. has a 12-month low of $37.64 and a 12-month high of $71.00. The firm has a market cap of $204.88 million, a PE ratio of 11.09 and a beta of 0.71.

First Capital (NASDAQ:FCAP) last issued its quarterly earnings data on Friday, July 24th. The savings and loans company reported $1.43 EPS for the quarter. The firm 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 declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be issued a dividend of $0.32 per share. The ex-dividend date is Friday, September 11th. This represents a $1.28 dividend on an annualized basis and a yield of 2.1%. This is a boost from First Capital’s previous quarterly dividend of $0.31. First Capital’s dividend payout ratio (DPR) is presently 22.42%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c)” rating on shares of First Capital in a report on Friday, July 17th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus 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.