Bank of America Corp DE Makes New $4 Million Investment in FirstSun Capital Bancorp $FSUN

Key Points

• Bank of America initiated a $4 million position in FirstSun Capital Bancorp during the second quarter, purchasing 103,115 shares, while other major institutions—including BlackRock—also increased exposure.
• Analyst sentiment remains positive overall, with FirstSun carrying a consensus “Moderate Buy” rating and an average price target of $45.25, above its reported opening price of $39.27.
• FirstSun exceeded quarterly earnings expectations, reporting $0.45 EPS versus the $0.17 consensus on $184.14 million in revenue; analysts project $3.33 EPS for the full year.

Bank of America Corp DE bought a new position in shares of FirstSun Capital Bancorp (NASDAQ:FSUN - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 103,115 shares of the company's stock, valued at approximately $3,999,000. Bank of America Corp DE owned about 0.22% of FirstSun Capital Bancorp at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of FirstSun Capital Bancorp during the second quarter valued at about $73,455,000. Dimensional Fund Advisors LP boosted its stake 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 purchasing an additional 114,339 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in FirstSun Capital Bancorp during the 2nd quarter worth approximately $3,128,000. Assenagon Asset Management S.A. grew its position in FirstSun Capital Bancorp by 169.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 88,518 shares of the company's stock worth $3,227,000 after purchasing an additional 55,615 shares during the last quarter. Finally, Access Investment Management LLC acquired a new position in FirstSun Capital Bancorp during the 1st quarter valued at approximately $1,959,000.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Stephens dropped their price objective on shares of FirstSun Capital Bancorp from $46.00 to $45.00 and set an "overweight" rating on the stock in a report on Wednesday, July 29th. Weiss Ratings downgraded FirstSun Capital Bancorp from a "buy (b-)" rating to a "hold (c)" rating in a research note on Monday, August 17th. Wall Street Zen raised FirstSun Capital Bancorp from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Piper Sandler lifted their target price on FirstSun Capital Bancorp from $45.00 to $47.00 and gave the stock an "overweight" rating in a report on Monday, August 3rd. Finally, Keefe, Bruyette & Woods raised their price target on shares of FirstSun Capital Bancorp from $43.00 to $45.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, FirstSun Capital Bancorp has a consensus rating of "Moderate Buy" and an average price target of $45.25.

FirstSun Capital Bancorp Price Performance

NASDAQ:FSUN opened at $39.27 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.92 and a quick ratio of 0.91. The company has a 50 day moving average price of $39.36 and a 200-day moving average price of $37.53. FirstSun Capital Bancorp has a 1-year low of $29.95 and a 1-year high of $42.34. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 19.93 and a beta of 0.32.

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, topping analysts' consensus estimates of $0.17 by $0.28. FirstSun Capital Bancorp had a net margin of 6.60% and a return on equity of 7.16%. The firm had revenue of $184.14 million for the quarter. Equities research analysts forecast that FirstSun Capital Bancorp will post 3.33 EPS for the current year.

FirstSun Capital Bancorp Profile

FirstSun Capital Bancorp is a regional bank holding company that operates primarily through its subsidiary, Sunflower Bank, N.A. The company provides banking and financial services to individuals, businesses and institutions across several U.S. markets.

Sunflower Bank offers commercial and consumer banking products, including checking and savings accounts, residential and commercial real estate lending, business loans, agricultural financing, personal loans and treasury management services.

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