FirstSun Capital Bancorp (NASDAQ:FSUN) Trading 0.1% Higher on Earnings Beat

FirstSun Capital Bancorp (NASDAQ:FSUN) shares shot up 0.1% during mid-day trading on Monday following a stronger than expected earnings report. The stock traded as high as $38.70 and last traded at $37.81. 246,471 shares were traded during mid-day trading, an increase of 156% from the average session volume of 96,346 shares. The stock had previously closed at $37.77.

The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.86 by $0.09. FirstSun Capital Bancorp had a net margin of 17.19% and a return on equity of 9.12%. The firm had revenue of $111.36 million for the quarter, compared to analysts’ expectations of $108.20 million.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FSUN. Raymond James Financial restated an “outperform” rating on shares of FirstSun Capital Bancorp in a research note on Tuesday. Piper Sandler set a $42.00 price target on shares of FirstSun Capital Bancorp in a report on Monday, November 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of FirstSun Capital Bancorp in a report on Monday, December 29th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of FirstSun Capital Bancorp from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, FirstSun Capital Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.33.

Institutional Investors Weigh In On FirstSun Capital Bancorp

Several institutional investors have recently added to or reduced their stakes in the business. CreativeOne Wealth LLC purchased a new stake in shares of FirstSun Capital Bancorp during the 2nd quarter valued at approximately $503,000. Dynamic Technology Lab Private Ltd bought a new stake in FirstSun Capital Bancorp during the 2nd quarter valued at $961,000. Teacher Retirement System of Texas purchased a new stake in shares of FirstSun Capital Bancorp during the second quarter worth $932,000. Salzhauer Michael lifted its position in shares of FirstSun Capital Bancorp by 45.1% during the third quarter. Salzhauer Michael now owns 125,601 shares of the company’s stock worth $4,872,000 after acquiring an additional 39,048 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of FirstSun Capital Bancorp by 123.3% in the second quarter. Geode Capital Management LLC now owns 297,908 shares of the company’s stock worth $10,354,000 after acquiring an additional 164,507 shares during the period.

FirstSun Capital Bancorp Stock Performance

The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.08 billion, a PE ratio of 11.24 and a beta of 0.82. The company has a 50-day moving average price of $37.14 and a two-hundred day moving average price of $37.22.

About FirstSun Capital Bancorp

FirstSun Capital Bancorp engages in the provision of commercial banking services. It operates through the following segments: Banking, Mortgage Operations, and Corporate. The Banking segment consists of loans and provides deposits and fee-based services to consumer, business, and mortgage lending customers. The Mortgage Operations segment originates, sells, services, and manages market risk from changes in interest rates on one-to-four family residential mortgage loans to sell and hold. The company is founded on November 9, 1981 headquartered in Denver, CO.