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First Capital
(NASDAQ:FCAP)
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Rating:78Outperform
Price Target:
$69.00
▲(18.41% Upside)
Action:Reiterated
Date:05/23/26
The score is primarily supported by strong financial quality (high margins, improving ROE, and a very conservative balance sheet) and an attractive valuation (low P/E with a dividend). Offsetting these positives, the technical picture is mixed with near-term softness versus the 20-day average and neutral momentum indicators, and financials carry some visibility risk due to an unusually large TTM revenue growth print and uneven historical cash flow growth.
Positive Factors
Conservative balance sheet (zero reported debt)
Zero reported debt and minimal leverage create durable financial flexibility for a regional bank. This conservatism supports resilience through rate cycles, enables organic loan growth or opportunistic capital deployment, and reduces refinancing and interest-rate risk over the next several months.
Negative Factors
Unusually large, volatile revenue spike
A massive one‑period revenue jump reduces multi‑period visibility and may reflect atypical items or timing effects. For capital planning, provisioning and lending growth, this volatility makes durable forecasting harder and raises the risk that future topline will revert to prior steady rates.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet (zero reported debt)
Zero reported debt and minimal leverage create durable financial flexibility for a regional bank. This conservatism supports resilience through rate cycles, enables organic loan growth or opportunistic capital deployment, and reduces refinancing and interest-rate risk over the next several months.
Read all positive factors
First Capital (FCAP) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$207.39M
Dividend Yield1.96%
Average Volume (3M)3.32K
Price to Earnings (P/E)11.8
Beta (1Y)0.11
Revenue Growth11.54%
EPS Growth43.03%
CountryUS
Employees176
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)5.23
Shares Outstanding3,345,531
10 Day Avg. Volume2,805
30 Day Avg. Volume3,318
Financial Highlights & Ratios
PEG Ratio0.33
Price to Book (P/B)1.44
Price to Sales (P/S)3.03
P/FCF Ratio9.94
Enterprise Value/Market Cap0.29
Enterprise Value/Revenue0.90
Enterprise Value/Gross Profit1.17
Enterprise Value/Ebitda2.69
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
First Capital Business Overview & Revenue Model
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 in Indiana and Kentucky, the United States. The company provides various deposit instrume...
How the Company Makes Money
FCAP primarily makes money through its banking subsidiary by (1) earning net interest income—the spread between interest earned on loans and investment securities and interest paid on deposits and other borrowings—and (2) generating noninterest in...
First Capital Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
90
Very Positive
Cash Flow
84
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 67.09M | 65.31M | 58.13M | 51.24M | 41.87M | 39.01M |
| Gross Profit | 51.50M | 49.47M | 42.00M | 41.08M | 39.32M | 38.21M |
| EBITDA | 22.45M | 21.00M | 15.27M | 16.08M | 15.30M | 14.82M |
| Net Income | 17.46M | 16.37M | 11.94M | 12.79M | 11.90M | 11.42M |
Balance Sheet | ||||||
| Total Assets | 1.28B | 1.27B | 1.19B | 1.16B | 1.15B | 1.16B |
| Cash, Cash Equivalents and Short-Term Investments | 409.64M | 391.73M | 497.86M | 464.37M | 493.55M | 479.61M |
| Total Debt | 0.00 | 0.00 | 0.00 | 21.50M | 0.00 | 0.00 |
| Total Liabilities | 1.15B | 1.13B | 1.07B | 1.05B | 1.07B | 1.04B |
| Stockholders Equity | 138.04M | 137.80M | 114.60M | 105.23M | 85.16M | 113.83M |
Cash Flow | ||||||
| Free Cash Flow | 22.27M | 19.93M | 21.63M | 13.54M | 16.12M | 21.34M |
| Operating Cash Flow | 23.24M | 21.28M | 22.34M | 14.16M | 16.53M | 21.63M |
| Investing Cash Flow | -38.19M | -41.83M | 29.01M | -23.95M | -144.03M | -156.46M |
| Financing Cash Flow | 47.97M | 51.92M | 15.90M | -17.84M | 21.29M | 131.45M |
First Capital Technical Analysis
Neutral
58.27
Price Trends
59.99
Positive
55.39
Positive
52.51
Positive
Market Momentum
0.53
Positive
48.43
Neutral
41.83
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FCAP, the sentiment is Neutral. The current price of 58.27 is below the 20-day moving average (MA) of 63.70, below the 50-day MA of 59.99, and above the 200-day MA of 52.51, indicating a neutral trend. The MACD of 0.53 indicates Positive momentum. The RSI at 48.43 is Neutral, neither overbought nor oversold. The STOCH value of 41.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for FCAP.
First Capital Risk Analysis
First Capital disclosed 32 risk factors in its most recent earnings report. First Capital reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
First Capital Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $207.39M | 11.81 | 13.14% | 1.96% | 11.54% | 43.03% | |
77 Outperform | $183.72M | 9.34 | 12.22% | 3.01% | 4.70% | 27.81% | |
71 Outperform | $170.82M | 12.11 | 7.98% | 1.90% | -4.00% | ― | |
69 Neutral | $222.10M | 14.99 | 8.00% | 2.00% | 2.45% | 20.71% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | $204.24M | 11.38 | 9.76% | 1.16% | 0.91% | 22.40% | |
63 Neutral | $186.51M | 15.33 | 6.61% | ― | 5.29% | 31.40% |
* Financial Sector Average
FCAP
First Capital
61.99
19.59
46.20%
CFBK
CF Bankshares
31.74
7.94
33.36%
CZWI
Citizens Community Bancorp
23.05
8.15
54.68%
LARK
Landmark Bancorp
30.43
6.08
24.96%
MNSB
MainStreet Bancshares
24.16
4.54
23.15%
BVFL
BV Financial, Inc.
21.05
5.38
34.33%
First Capital Corporate Events
Executive/Board ChangesShareholder Meetings
First Capital Shareholders Back Board, Auditor and Pay Plans
Positive
May 22, 2026
First Capital held its Annual Meeting of Shareholders on May 18, 2026, where investors elected five directors—William W. Harrod, Dana L. Huber, Lou Ann Moore, Robert C. Guilfoyle and Michael C. Frederick—to three-year terms, reflecting...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.