FirstSun Capital Bancorp (NASDAQ:FSUN) Releases Earnings Results, Beats Expectations By $0.02 EPS

Key Points

• FirstSun Capital Bancorp reported earnings per share (EPS) of $0.93 for the quarter, exceeding the consensus estimate of $0.91 by $0.02.
• The company's stock price rose to $39.25, and it has a market capitalization of $1.09 billion with a price-to-earnings ratio of 12.74.
• Analysts currently have a consensus rating of "Moderate Buy" for the stock with a target price of $46.00 despite one analyst rating it as a sell.

FirstSun Capital Bancorp (NASDAQ:FSUN - Get Free Report) issued its earnings results on Monday. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.02, Zacks reports. FirstSun Capital Bancorp had a net margin of 15.99% and a return on equity of 9.34%. The business had revenue of $106.78 million for the quarter, compared to analyst estimates of $103.35 million.

FirstSun Capital Bancorp Price Performance

FSUN stock traded down $0.07 during midday trading on Friday, reaching $35.49. 21,137 shares of the company's stock traded hands, compared to its average volume of 105,115. The company has a 50-day simple moving average of $36.13 and a two-hundred day simple moving average of $37.36. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.10. The company has a market cap of $987.55 million and a price-to-earnings ratio of 11.34. FirstSun Capital Bancorp has a 1-year low of $31.70 and a 1-year high of $45.32.

Insider Buying and Selling at FirstSun Capital Bancorp

In related news, Director John Fleshood purchased 2,000 shares of FirstSun Capital Bancorp stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average price of $35.38 per share, for a total transaction of $70,760.00. Following the transaction, the director directly owned 2,050 shares in the company, valued at approximately $72,529. This represents a 4,000.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 12.52% of the company's stock.

Institutional Investors Weigh In On FirstSun Capital Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC raised its position in FirstSun Capital Bancorp by 103.1% in the 1st quarter. Empowered Funds LLC now owns 72,528 shares of the company's stock worth $2,622,000 after purchasing an additional 36,813 shares during the last quarter. Goldman Sachs Group Inc. increased its position in FirstSun Capital Bancorp by 13.8% in the first quarter. Goldman Sachs Group Inc. now owns 102,390 shares of the company's stock worth $3,701,000 after purchasing an additional 12,449 shares during the period. Finally, Millennium Management LLC raised its holdings in FirstSun Capital Bancorp by 199.9% during the 1st quarter. Millennium Management LLC now owns 166,031 shares of the company's stock worth $6,002,000 after purchasing an additional 110,662 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FSUN. Wall Street Zen lowered FirstSun Capital Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. Stephens initiated coverage on shares of FirstSun Capital Bancorp in a research note on Tuesday, May 6th. They issued an "overweight" rating and a $44.00 target price on the stock. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, FirstSun Capital Bancorp currently has an average rating of "Moderate Buy" and an average target price of $46.00.

FirstSun Capital Bancorp Company Profile

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.