FirstSun Capital Bancorp (NASDAQ:FSUN) Price Target Lowered to $48.00 at Piper Sandler

Key Points

• Piper Sandler cut its price target on FirstSun Capital Bancorp from $50 to $48 but kept an "overweight" rating, with the new target implying roughly a 33.31% upside from the prior close.
• FirstSun beat quarterly estimates — reporting $0.95 EPS vs. $0.86 expected and revenue of $110.18M vs. $108.2M — and the stock trades around $36.01 with a market cap of $1.01B and a MarketBeat consensus of "Moderate Buy" (consensus target $45.33).
• Insiders and institutions are active: director Peter E. Murphy bought 1,500 shares at $35.28, insiders own 12.52% of the stock, and several hedge funds have recently increased or initiated positions.

FirstSun Capital Bancorp (NASDAQ:FSUN - Get Free Report) had its target price reduced by investment analysts at Piper Sandler from $50.00 to $48.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Piper Sandler's price objective suggests a potential upside of 33.31% from the stock's previous close.

Several other equities research analysts also recently weighed in on FSUN. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of FirstSun Capital Bancorp in a report on Friday, March 27th. Zacks Research downgraded FirstSun Capital Bancorp from a "strong-buy" rating to a "hold" rating in a report on Monday. Keefe, Bruyette & Woods upped their price target on shares of FirstSun Capital Bancorp from $42.00 to $44.00 and gave the company an "outperform" rating in a report on Wednesday, December 17th. Finally, Raymond James Financial reiterated an "outperform" rating on shares of FirstSun Capital Bancorp in a research report on Tuesday, January 27th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, FirstSun Capital Bancorp has a consensus rating of "Moderate Buy" and a consensus price target of $45.33.

FirstSun Capital Bancorp Stock Down 1.9%

FSUN opened at $36.01 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.01 and a quick ratio of 1.00. FirstSun Capital Bancorp has a 12 month low of $29.95 and a 12 month high of $42.34. The stock has a market capitalization of $1.01 billion, a P/E ratio of 10.44 and a beta of 0.70. The business has a 50 day simple moving average of $37.69 and a 200-day simple moving average of $37.31.

FirstSun Capital Bancorp (NASDAQ:FSUN - Get Free Report) last released its quarterly earnings results on Monday, January 26th. The company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.09. FirstSun Capital Bancorp had a return on equity of 9.00% and a net margin of 17.19%.The business had revenue of $110.18 million for the quarter, compared to analysts' expectations of $108.20 million. On average, equities analysts anticipate that FirstSun Capital Bancorp will post 3.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Peter E. Murphy purchased 1,500 shares of the business's stock in a transaction dated Monday, March 16th. The shares were bought at an average price of $35.28 per share, with a total value of $52,920.00. Following the purchase, the director directly owned 1,500 shares in the company, valued at $52,920. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 12.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FirstSun Capital Bancorp

Hedge funds have recently bought and sold shares of the company. Salzhauer Michael lifted its stake in shares of FirstSun Capital Bancorp by 45.1% in the 3rd quarter. Salzhauer Michael now owns 125,601 shares of the company's stock valued at $4,872,000 after purchasing an additional 39,048 shares during the period. Geode Capital Management LLC grew its position in shares of FirstSun Capital Bancorp by 123.3% during the 2nd quarter. Geode Capital Management LLC now owns 297,908 shares of the company's stock worth $10,354,000 after buying an additional 164,507 shares during the period. Oppenheimer & Close LLC acquired a new position in shares of FirstSun Capital Bancorp during the 3rd quarter valued at $820,000. Azora Capital LP raised its holdings in shares of FirstSun Capital Bancorp by 98.1% during the third quarter. Azora Capital LP now owns 29,719 shares of the company's stock valued at $1,153,000 after purchasing an additional 14,716 shares during the period. Finally, Rafferty Asset Management LLC acquired a new position in shares of FirstSun Capital Bancorp during the third quarter valued at about $836,000.

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. 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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