Bank of New York Mellon Corp Purchases New Holdings in FirstSun Capital Bancorp $FSUN

Key Points

• Bank of New York Mellon purchased 80,656 shares of FirstSun Capital Bancorp during the second quarter, valued at approximately $3.13 million and representing a 0.17% stake.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $45.25.
• FirstSun reported quarterly earnings of $0.45 per share, exceeding estimates of $0.17, while shares recently traded at $40.92 within a 52-week range of $29.95 to $42.34.

Bank of New York Mellon Corp purchased a new position in shares of FirstSun Capital Bancorp (NASDAQ:FSUN - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 80,656 shares of the company's stock, valued at approximately $3,128,000. Bank of New York Mellon Corp owned 0.17% of FirstSun Capital Bancorp at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of FSUN. Russell Investments Group Ltd. bought a new stake in shares of FirstSun Capital Bancorp during the 3rd quarter worth $41,000. Royal Bank of Canada raised its position in FirstSun Capital Bancorp by 256.4% in the first quarter. Royal Bank of Canada now owns 1,276 shares of the company's stock worth $47,000 after acquiring an additional 918 shares during the period. New York State Common Retirement Fund bought a new stake in FirstSun Capital Bancorp in the second quarter worth about $139,000. Quantbot Technologies LP grew its position in shares of FirstSun Capital Bancorp by 508.9% during the 2nd quarter. Quantbot Technologies LP now owns 4,871 shares of the company's stock valued at $169,000 after acquiring an additional 4,071 shares during the period. Finally, Squarepoint Ops LLC bought a new position in shares of FirstSun Capital Bancorp during the 4th quarter valued at approximately $216,000.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FSUN. Raymond James Financial reissued a "strong-buy" rating on shares of FirstSun Capital Bancorp in a report on Friday, July 10th. Zacks Research raised FirstSun Capital Bancorp from a "strong sell" rating to a "hold" rating in a report on Monday, June 29th. Stephens lowered their price objective on FirstSun Capital Bancorp from $46.00 to $45.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 29th. Keefe, Bruyette & Woods upped their price objective on shares of FirstSun Capital Bancorp from $43.00 to $45.00 and gave the company an "outperform" rating in a report on Wednesday, August 5th. Finally, Weiss Ratings lowered shares of FirstSun Capital Bancorp from a "buy (b-)" rating to a "hold (c)" rating in a research report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $45.25.

FirstSun Capital Bancorp Stock Performance

Shares of FSUN opened at $40.92 on Monday. The stock's 50-day simple moving average is $38.57 and its 200 day simple moving average is $37.31. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 20.77 and a beta of 0.32. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.92. FirstSun Capital Bancorp has a 52-week low of $29.95 and a 52-week high of $42.34.

FirstSun Capital Bancorp (NASDAQ:FSUN - Get Free Report) last posted its earnings results on Monday, July 27th. The company reported $0.45 earnings per share 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 business had revenue of $184.14 million during the quarter. Research analysts forecast that FirstSun Capital Bancorp will post 3.34 EPS for the current fiscal year.

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.

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