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First Capital

Nasdaq:FCAP
Snowflake Description

Flawless balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FCAP
Nasdaq
$185M
Market Cap
  1. Home
  2. US
  3. Banks
Company description

First Capital, Inc. operates as the bank holding company for First Harrison Bank that provides various banking services to individuals and business customers. The last earnings update was 7 days ago. More info.


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FCAP Share Price and Events
7 Day Returns
-1.2%
NasdaqCM:FCAP
-5.2%
US Banks
-3.1%
US Market
1 Year Returns
39.9%
NasdaqCM:FCAP
-16.1%
US Banks
-1.7%
US Market
FCAP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
First Capital (FCAP) -1.2% 1.6% 7.8% 39.9% 67.4% 149.6%
US Banks -5.2% -7.8% -5.8% -16.1% 29.4% 33.3%
US Market -3.1% -5.3% -1.2% -1.7% 28.2% 35%
1 Year Return vs Industry and Market
  • FCAP outperformed the Banks industry which returned -16.1% over the past year.
  • FCAP outperformed the Market in United States of America which returned -1.7% over the past year.
Price Volatility
FCAP
Industry
5yr Volatility vs Market

FCAP Value

 Is First Capital undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of First Capital to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for First Capital.

NasdaqCM:FCAP Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $24.01 * 9.5%
$2.27
Book Value of Equity per Share Median Book Value from the past 5 years. $24.01
Discount Rate (Cost of Equity) See below 7.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqCM:FCAP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.56
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.559 (1 + (1- 21%) (0%))
0.705
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.8 * 5.96%)
7.5%

Discounted Cash Flow Calculation for NasdaqCM:FCAP using Excess Returns Model Model

The calculations below outline how an intrinsic value for First Capital is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqCM:FCAP Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (9.5% – 7.5%) * $24.01)
$0.47
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.47 / (7.5% - 2.73%)
$9.87
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $24.01 + $9.87
$33.88
NasdaqCM:FCAP Discount to Share Price
Calculation Result
Value per share (USD) From above. $33.88
Current discount Discount to share price of $54.91
= -1 x ($54.91 - $33.88) / $33.88
-62.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of First Capital is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for First Capital's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are First Capital's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqCM:FCAP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $3.01
NasdaqCM:FCAP Share Price ** NasdaqCM (2019-08-16) in USD $54.91
United States of America Banks Industry PE Ratio Median Figure of 598 Publicly-Listed Banks Companies 12.2x
United States of America Market PE Ratio Median Figure of 3,093 Publicly-Listed Companies 17.02x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of First Capital.

NasdaqCM:FCAP PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqCM:FCAP Share Price ÷ EPS (both in USD)

= 54.91 ÷ 3.01

18.24x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Capital is overvalued based on earnings compared to the US Banks industry average.
  • First Capital is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does First Capital's expected growth come at a high price?
Raw Data
NasdaqCM:FCAP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 18.24x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
3.3%per year
United States of America Banks Industry PEG Ratio Median Figure of 272 Publicly-Listed Banks Companies 1.11x
United States of America Market PEG Ratio Median Figure of 2,115 Publicly-Listed Companies 1.38x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for First Capital, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on First Capital's assets?
Raw Data
NasdaqCM:FCAP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $28.04
NasdaqCM:FCAP Share Price * NasdaqCM (2019-08-16) in USD $54.91
United States of America Banks Industry PB Ratio Median Figure of 599 Publicly-Listed Banks Companies 1.14x
United States of America Market PB Ratio Median Figure of 5,261 Publicly-Listed Companies 1.67x
NasdaqCM:FCAP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqCM:FCAP Share Price ÷ Book Value per Share (both in USD)

= 54.91 ÷ 28.04

1.96x

* Primary Listing of First Capital.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Capital is overvalued based on assets compared to the US Banks industry average.
X
Value checks
We assess First Capital's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. First Capital has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

FCAP Future Performance

 How is First Capital expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover First Capital, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
3.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is First Capital expected to grow at an attractive rate?
  • First Capital's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • First Capital's earnings growth is positive but not above the United States of America market average.
  • Unable to compare First Capital's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NasdaqCM:FCAP Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqCM:FCAP Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 3.3%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 1.6%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 3.2%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqCM:FCAP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqCM:FCAP Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 34 13 10
2019-03-31 33 15 9
2018-12-31 32 13 9
2018-09-30 32 12 8
2018-06-30 32 12 8
2018-03-31 31 12 8
2017-12-31 31 13 7
2017-09-30 30 12 8
2017-06-30 29 10 7
2017-03-31 29 10 7
2016-12-31 29 8 7
2016-09-30 28 8 6

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • First Capital's earnings are expected to grow by 3.3% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if First Capital is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqCM:FCAP Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from First Capital Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:FCAP Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 3.01
2019-03-31 2.78
2018-12-31 2.78
2018-09-30 2.51
2018-06-30 2.38
2018-03-31 2.41
2017-12-31 2.24
2017-09-30 2.28
2017-06-30 2.17
2017-03-31 2.05
2016-12-31 2.05
2016-09-30 1.93

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if First Capital will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess First Capital's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
First Capital has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

FCAP Past Performance

  How has First Capital performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare First Capital's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • First Capital's year on year earnings growth rate has been positive over the past 5 years.
  • First Capital's 1-year earnings growth exceeds its 5-year average (26.5% vs 13.1%)
  • First Capital's earnings growth has not exceeded the US Banks industry average in the past year (26.5% vs 33.2%).
Earnings and Revenue History
First Capital's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from First Capital Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:FCAP Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 33.89 10.03 18.30
2019-03-31 32.78 9.27 17.89
2018-12-31 32.28 9.25 17.61
2018-09-30 31.86 8.34 17.38
2018-06-30 31.59 7.93 17.18
2018-03-31 31.34 8.02 16.80
2017-12-31 30.81 7.44 16.49
2017-09-30 30.11 7.59 16.07
2017-06-30 29.48 7.24 15.90
2017-03-31 28.94 6.84 15.77
2016-12-31 28.86 6.86 15.72
2016-09-30 27.92 6.23 14.63
2016-06-30 26.12 5.87 13.58
2016-03-31 24.31 5.31 12.84
2015-12-31 22.78 5.20 11.89
2015-09-30 22.21 5.35 12.26
2015-06-30 22.38 5.47 12.14
2015-03-31 22.46 5.76 11.74
2014-12-31 22.00 5.59 11.46
2014-09-30 21.66 5.58 11.15
2014-06-30 21.29 5.49 10.93
2014-03-31 20.80 5.18 10.82
2013-12-31 20.67 5.07 10.72
2013-09-30 20.44 5.08 10.53
2013-06-30 20.01 4.37 10.53
2013-03-31 19.76 4.20 10.57
2012-12-31 19.35 3.92 10.66
2012-09-30 19.08 3.72 10.76

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • First Capital has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • First Capital used its assets more efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if First Capital improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess First Capital's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
First Capital has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

FCAP Health

 How is First Capital's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of First Capital's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from First Capital Company Filings, last reported 1 month ago.

NasdaqCM:FCAP Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 94.43 0.00 66.77
2019-03-31 89.23 0.00 62.28
2018-12-31 85.96 0.00 47.02
2018-09-30 81.34 0.00 59.09
2018-06-30 80.42 0.00 69.66
2018-03-31 79.45 0.00 47.50
2017-12-31 81.05 10.00 33.47
2017-09-30 81.38 4.00 35.09
2017-06-30 80.25 0.00 49.65
2017-03-31 77.18 0.00 61.19
2016-12-31 75.84 0.00 59.14
2016-09-30 78.71 0.00 85.92
2016-06-30 78.02 0.00 86.56
2016-03-31 76.07 0.00 125.20
2015-12-31 74.51 0.00 124.94
2015-09-30 59.60 0.00 36.05
2015-06-30 58.41 0.00 49.16
2015-03-31 58.41 0.00 47.59
2014-12-31 57.23 0.00 40.71
2014-09-30 56.29 0.00 26.80
2014-06-30 55.25 15.62 21.33
2014-03-31 54.64 8.83 23.31
2013-12-31 53.34 14.81 14.83
2013-09-30 52.89 15.44 16.81
2013-06-30 52.50 16.44 33.70
2013-03-31 53.27 15.68 29.04
2012-12-31 52.94 19.19 22.11
2012-09-30 52.23 19.21 22.70
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • First Capital has an acceptable proportion of non-loan assets held.
  • First Capital's liabilities are made up of primarily low risk sources of funding.
  • Loans at First Capital are broadly funded by customer deposits.
  • First Capital's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • First Capital has a sufficient allowance for bad loans.
  • First Capital has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess First Capital's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. First Capital has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

FCAP Dividends

 What is First Capital's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.75%
Current annual income from First Capital dividends.
If you bought $2,000 of First Capital shares you are expected to receive $35 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • First Capital's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.5%).
  • First Capital's dividend is below the markets top 25% of dividend payers in United States of America (3.9%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqCM:FCAP Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 480 Stocks 3.4%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2009 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqCM:FCAP Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-22 0.960 1.863
2019-02-20 0.920 1.783
2018-11-20 0.920 2.217
2018-08-23 0.920 2.277
2018-05-25 0.920 2.394
2018-02-23 0.920 2.415
2017-11-27 0.880 2.390
2017-08-23 0.880 2.509
2017-05-31 0.840 2.712
2017-02-22 0.840 2.581
2016-11-28 0.840 2.648
2016-08-18 0.840 2.710
2016-05-18 0.840 2.576
2016-02-19 0.840 2.910
2015-11-18 0.840 3.332
2015-08-27 0.840 3.250
2015-05-27 0.840 3.146
2015-02-23 0.840 3.425
2014-11-20 0.840 3.514
2014-08-19 0.840 3.654
2014-05-21 0.840 4.060
2014-02-19 0.840 4.055
2013-11-19 0.800 3.861
2013-08-27 0.800 3.871
2013-05-23 0.800 3.924
2013-02-20 0.800 4.044
2013-01-28 0.760 3.860
2012-08-23 0.760 3.826
2012-05-24 0.760 3.763
2012-02-23 0.760 3.651
2011-11-29 0.760 3.859
2011-08-17 0.760 4.149
2011-05-23 0.760 4.384
2011-02-24 0.760 4.641
2010-11-19 0.760 4.797
2010-08-23 0.760 5.021
2010-05-26 0.720 4.880
2010-02-18 0.720 4.792
2009-11-23 0.720 4.965
2009-08-24 0.720 4.398
2009-05-27 0.720 4.247
2009-02-18 0.720 5.145
2008-12-01 0.720 5.198
2008-08-27 0.720 4.693

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of First Capital's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.2x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess First Capital's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can First Capital afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. First Capital has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

FCAP Management

 What is the CEO of First Capital's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Bill Harrod
COMPENSATION $368,102
AGE 63
TENURE AS CEO 19.6 years
CEO Bio

Mr. William W. Harrod has been Chief Executive Officer and President at First Capital Inc. since January 2000 and serves as its Chief Operating Officer. Mr. Harrod has also been the Chief Executive Officer and President of First Harrison Bank since September 30, 2012. He served as the Chief Operating Officer of First Harrison Bank from January 2000 to September 30, 2012. He previously served as the President and Chief Executive Officer of HCB BanCorp, Inc. and Harrison County Bank. Mr. Harrod has been a Director of First Capital Inc. since 2000. He serves as a Director of First Harrison Bank and Evansville Commerce Bank.

CEO Compensation
  • Bill's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Bill's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the First Capital management team in years:

19.6
Average Tenure
51
Average Age
  • The average tenure for the First Capital management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Bill Harrod

TITLE
President
COMPENSATION
$368K
AGE
63
TENURE
19.6 yrs

Michael Frederick

TITLE
Senior EVP
COMPENSATION
$223K
AGE
51
TENURE
22.6 yrs

Jill Keinsley

TITLE
Executive VP
COMPENSATION
$184K
AGE
51
TENURE
13 yrs

Jeff Thomas

TITLE
Director of Business Development & Director of Business Development of First Harrison Bank
Board of Directors Tenure

Average tenure and age of the First Capital board of directors in years:

13.1
Average Tenure
61
Average Age
  • The average tenure for the First Capital board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Mike Shireman

TITLE
Chairman of the Board
COMPENSATION
$30K
AGE
71
TENURE
3.3 yrs

Bill Harrod

TITLE
President
COMPENSATION
$368K
AGE
63
TENURE
19.6 yrs

Carolyn Wallace

TITLE
Independent Director
COMPENSATION
$30K
AGE
49
TENURE
9.6 yrs

Pam Kraft

TITLE
Independent Director
COMPENSATION
$30K
AGE
59
TENURE
9.3 yrs

Dana Huber

TITLE
Independent Director
COMPENSATION
$30K
AGE
52
TENURE
4.5 yrs

Sam Uhl

TITLE
Independent Director
COMPENSATION
$30K
AGE
74
TENURE
24.6 yrs

Mark Shireman

TITLE
Independent Director
COMPENSATION
$35K
AGE
68
TENURE
30.6 yrs

Kathy Ernstberger

TITLE
Independent Director
COMPENSATION
$30K
AGE
56
TENURE
16.6 yrs

Craig Stanley

TITLE
Member of Advisory Board

Anne Ragains

TITLE
Member of Advisory Board
Who owns this company?
Recent Insider Trading
  • First Capital individual insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
08. Aug 19 Sell Samuel Uhl Individual 07. Aug 19 07. Aug 19 -750 $56.10 $-42,074
30. Jul 19 Sell Michael Shireman Individual 29. Jul 19 29. Jul 19 -3,802 $54.04 $-205,460
03. Jun 19 Buy Dennis Huber Individual 31. May 19 31. May 19 1,986 $48.74 $96,798
24. May 19 Buy Dennis Huber Individual 23. May 19 23. May 19 1,000 $50.00 $50,000
16. May 19 Sell Samuel Uhl Individual 14. May 19 14. May 19 -1,600 $50.52 $-80,832
08. May 19 Sell Samuel Uhl Individual 06. May 19 06. May 19 -1,014 $51.25 $-51,968
07. May 19 Sell Samuel Uhl Individual 03. May 19 03. May 19 -619 $51.25 $-31,724
01. Mar 19 Sell Samuel Uhl Individual 27. Feb 19 27. Feb 19 -35 $51.00 $-1,785
27. Feb 19 Sell Samuel Uhl Individual 25. Feb 19 26. Feb 19 -5,785 $51.17 $-295,258
08. Feb 19 Buy Dennis Huber Individual 05. Feb 19 05. Feb 19 245 $46.00 $11,270
06. Feb 19 Sell Samuel Uhl Individual 05. Feb 19 05. Feb 19 -151 $45.50 $-6,871
05. Feb 19 Sell Michael Frederick Individual 01. Feb 19 04. Feb 19 -600 $45.30 $-27,117
24. Aug 18 Buy Christopher Byrd Individual 22. Aug 18 22. Aug 18 1,000 $39.00 $39,000
X
Management checks
We assess First Capital's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. First Capital has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

FCAP News

Simply Wall St News

Does First Capital, Inc.'s (NASDAQ:FCAP) CEO Salary Compare Well With Others?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … View our latest analysis for First Capital How Does Bill Harrod's Compensation Compare With Similar Sized Companies? … This would give shareholders a good impression of the company, since most similar size companies have to pay more, leaving less for shareholders.

Simply Wall St -

Is First Capital, Inc. (NASDAQ:FCAP) A Smart Choice For Dividend Investors?

Slow and steady dividend growth might not sound that exciting, but dividends have been stable for ten years, which we think is seriously impressive. … Dividend Growth Potential Dividend payments have been consistent over the past few years, but we should always check if earnings per share (EPS) are growing, as this will help maintain the purchasing power of the dividend. Earnings have grown at around 8.8% a year for the past five years, which is better than seeing them shrink! It's good to see decent earnings growth and a low payout ratio. Companies with these characteristics often display the fastest dividend growth over the long term - assuming earnings can be maintained, of course. Conclusion Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing. … Next, growing earnings per share and steady dividend payments is a great combination.

Simply Wall St -

What Does First Capital, Inc.'s (NASDAQ:FCAP) P/E Ratio Tell You?

The formula for P/E is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for First Capital: P/E of 17.4 = $48.43 ÷ $2.78 (Based on the trailing twelve months to March 2019.) Is A High P/E Ratio Good? … The higher the P/E ratio, the higher the price tag of a business, relative to its trailing earnings. … All else being equal, it's better to pay a low price -- but as Warren Buffett said, 'It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.' How Growth Rates Impact P/E Ratios P/E ratios primarily reflect market expectations around earnings growth rates.

Simply Wall St -

What Kind Of Shareholder Owns Most First Capital, Inc. (NASDAQ:FCAP) Stock?

Taking a look at our data on the ownership groups (below), it's seems that institutional investors have bought into the company. … Insider Ownership Of First Capital The definition of company insiders can be subjective, and does vary between jurisdictions. … In their own names, insiders own US$8.0m worth of stock in the US$171m company.

Simply Wall St -

Is First Capital, Inc.'s (NASDAQ:FCAP) CEO Paid At A Competitive Rate?

First, this article will compare CEO compensation with compensation at similar sized companies. … And finally we will reflect on how common stockholders have fared in the last few years, as a secondary measure of performance. … How Does Bill Harrod's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Should You Be Worried About Insider Transactions At First Capital, Inc. (NASDAQ:FCAP)?

So we'll take a look at whether insiders have been buying or selling shares in First Capital, Inc. … First Capital Insider Transactions Over The Last Year. … Over the last year we saw more insider selling of First Capital shares, than buying

Simply Wall St -

Financial Metrics For First Capital, Inc. (NASDAQ:FCAP)

First Capital, Inc.’s (NASDAQ:FCAP) profitability and risk are largely affected by the underlying economic growth for the region it operates in US given it is a small-cap stock with a market capitalisation of US$173m. … Given that banks operate by reinvesting deposits in the form of loans, negative economic growth may lower the level of saving deposits and demand for loans, directly affecting those banks’ levels of cash flows. … A way to measure this risk is to look at three leverage and liquidity metrics which I will take you through today.

Simply Wall St -

Can You Imagine How Chuffed First Capital's (NASDAQ:FCAP) Shareholders Feel About Its 150% Share Price Gain?

One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … During five years of share price growth, First Capital achieved compound earnings per share (EPS) growth of 8.8% per year. … This EPS growth is lower than the 20% average annual increase in the share price.

Simply Wall St -

What Does First Capital, Inc.'s (NASDAQ:FCAP) P/E Ratio Tell You?

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … We'll look at First Capital, Inc.'s (NASDAQ:FCAP) P/E ratio and reflect on what it tells us about the company's share price. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Should First Capital, Inc. (NASDAQ:FCAP) Be Part Of Your Portfolio?

Dividends play an important role in compounding returns in the long run and end up forming a sizeable part of investment returns. … Let's dig deeper into whether First Capital should have a place in your portfolio. … See our latest analysis for First Capital

Simply Wall St -

FCAP Company Info

Description

First Capital, Inc. operates as the bank holding company for First Harrison Bank that provides various banking services to individuals and business customers. The company offers a range of deposit instruments, including non-interest bearing checking accounts, negotiable order of withdrawal accounts, money market accounts, regular savings accounts, certificates of deposit, and retirement savings plans. It also provides real estate mortgage loans, such as fixed-rate and adjustable rate mortgage residential loans, construction loans for residential and commercial properties, and commercial real estate loans, as well as commercial business loans. In addition, the company originates mortgage loans for sale in the secondary market and sells non-deposit investment products; and offers various secured or guaranteed consumer loans comprising automobile and truck loans, home equity loans, home improvement loans, boat loans, mobile home loans, and loans secured by savings deposits, as well as unsecured consumer loans. It provides its products and services through 18 locations in Indiana and Kentucky. First Capital, Inc. was founded in 1891 and is headquartered in Corydon, Indiana.

Details
Name: First Capital, Inc.
FCAP
Exchange: NasdaqCM
Founded: 1891
$184,697,033
3,363,632
Website: http://www.firstharrison.com
Address: First Capital, Inc.
220 Federal Drive, NW,
PO Box 130,
Corydon,
Indiana, 47112,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqCM FCAP Common Stock Nasdaq Capital Market US USD 04. Jan 1999
Number of employees
Current staff
Staff numbers
191
First Capital employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/08/16 23:37
End of day share price update: 2019/08/16 00:00
Last earnings filing: 2019/08/09
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.