FirstSun Capital Bancorp (NASDAQ:FSUN) Stock Dropped to "Strong Sell" by Zacks Research

Key Points

• Zacks Research downgraded FirstSun Capital Bancorp to “strong sell” from “hold,” although the broader analyst consensus remains “Moderate Buy” with a $45.25 target price.
• FSUN opened at $38.05, up 1.0%, and recently reported quarterly EPS of $0.45, beating the $0.17 consensus estimate; analysts expect full-year EPS of $3.33.
• Institutional interest increased, with BlackRock establishing a new position and Wellington Management raising its stake by 42.2% during the second quarter.

FirstSun Capital Bancorp (NASDAQ:FSUN - Get Free Report) was downgraded by stock analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued on Wednesday, Zacks reports.

Several other equities analysts have also weighed in on FSUN. Wall Street Zen raised shares of FirstSun Capital Bancorp from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Piper Sandler increased their price target on shares of FirstSun Capital Bancorp from $45.00 to $47.00 and gave the stock an "overweight" rating in a report on Monday, August 3rd. Weiss Ratings upgraded shares of FirstSun Capital Bancorp from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday. Raymond James Financial restated a "strong-buy" rating on shares of FirstSun Capital Bancorp in a research report on Friday, July 10th. Finally, Stephens cut their price objective on shares of FirstSun Capital Bancorp from $46.00 to $45.00 and set an "overweight" rating for the company in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $45.25.

FirstSun Capital Bancorp Stock Up 1.0%

FirstSun Capital Bancorp stock opened at $38.05 on Wednesday. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 12.31 and a beta of 0.34. FirstSun Capital Bancorp has a 52 week low of $29.95 and a 52 week high of $42.34. The business's 50-day moving average price is $39.70 and its 200 day moving average price is $37.81. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.11.

FirstSun Capital Bancorp (NASDAQ:FSUN - Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.28. FirstSun Capital Bancorp had a return on equity of 7.16% and a net margin of 6.60%. The company had revenue of $184.14 million during the quarter. As a group, sell-side analysts anticipate that FirstSun Capital Bancorp will post 3.33 earnings per share for the current year.

Institutional Trading of FirstSun Capital Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of FirstSun Capital Bancorp during the 2nd quarter valued at approximately $73,455,000. Wellington Management Group LLP grew its stake in FirstSun Capital Bancorp by 42.2% in the 2nd quarter. Wellington Management Group LLP now owns 4,097,274 shares of the company's stock valued at $158,892,000 after acquiring an additional 1,216,889 shares during the period. Empowered Funds LLC purchased a new stake in FirstSun Capital Bancorp in the 2nd quarter worth $4,847,000. Dimensional Fund Advisors LP increased its holdings in FirstSun Capital Bancorp by 40.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 398,362 shares of the company's stock worth $14,523,000 after acquiring an additional 114,339 shares in the last quarter. Finally, Bank of America Corp DE purchased a new stake in FirstSun Capital Bancorp in the 2nd quarter worth $3,999,000.

About FirstSun Capital Bancorp

FirstSun Capital Bancorp is a bank holding company whose principal subsidiary is Sunflower Bank, N.A. The company provides banking and financial services to businesses, agricultural producers, individuals and institutions through a network of branches and digital banking channels.

Its offerings include commercial and small-business lending, agricultural loans, residential and commercial real estate financing, consumer loans, deposit accounts, treasury management, online and mobile banking, and wealth management services.

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