FirstSun Capital Bancorp (NASDAQ:FSUN) Shares Gap Down on Disappointing Earnings

Key Points

• Shares gapped down after an earnings miss: FirstSun reported EPS of $0.84 versus analysts' $0.90 estimate and revenue of $109.95M, prompting the stock to open at $34.59 (prior close $38.61) and last trade around $36.59 on 41,300 shares.
• Mixed analyst outlook but overall positive consensus: Five analysts rate FSUN a Buy and one a Hold with a consensus target of $45.33; recent broker moves include Weiss upgrading to buy while Zacks cut to hold and Piper Sandler trimming its $50 target to $48.
• Insiders and institutions showing interest: A director bought 1,500 shares at $35.28 (insiders own 12.52%) and several institutions—including JPMorgan—have recently increased or initiated positions in the stock.

FirstSun Capital Bancorp (NASDAQ:FSUN - Get Free Report)'s share price gapped down prior to trading on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $38.61, but opened at $34.59. FirstSun Capital Bancorp shares last traded at $36.5870, with a volume of 41,300 shares trading hands.

The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.90 by ($0.06). FirstSun Capital Bancorp had a net margin of 17.19% and a return on equity of 9.00%. The company had revenue of $109.95 million for the quarter.

Analysts Set New Price Targets

A number of brokerages have issued reports on FSUN. Weiss Ratings raised shares of FirstSun Capital Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, April 14th. Zacks Research lowered shares of FirstSun Capital Bancorp from a "strong-buy" rating to a "hold" rating in a report on Monday, March 30th. Raymond James Financial reaffirmed an "outperform" rating on shares of FirstSun Capital Bancorp in a report on Tuesday, January 27th. Finally, Piper Sandler cut their price objective on shares of FirstSun Capital Bancorp from $50.00 to $48.00 and set an "overweight" rating for the company in a report on Thursday, April 2nd. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $45.33.

Insider Buying and Selling at FirstSun Capital Bancorp

In other FirstSun Capital Bancorp news, Director Peter E. Murphy bought 1,500 shares of the business's stock in a transaction that occurred on Monday, March 16th. The stock was purchased at an average cost of $35.28 per share, with a total value of $52,920.00. Following the completion of the acquisition, the director 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 Securities & Exchange Commission, which is available through the SEC website. Company insiders own 12.52% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. grew its holdings in shares of FirstSun Capital Bancorp by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 103,848 shares of the company's stock valued at $4,028,000 after purchasing an additional 16,337 shares in the last quarter. Salzhauer Michael grew its holdings in shares of FirstSun Capital Bancorp by 45.1% in the third 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 in the last quarter. Daytona Street Capital LLC bought a new stake in FirstSun Capital Bancorp in the fourth quarter worth $616,000. Rafferty Asset Management LLC bought a new stake in FirstSun Capital Bancorp in the third quarter worth $836,000. Finally, Azora Capital LP lifted its position in FirstSun Capital Bancorp by 98.1% in the third quarter. Azora Capital LP now owns 29,719 shares of the company's stock worth $1,153,000 after buying an additional 14,716 shares during the last quarter.

FirstSun Capital Bancorp Stock Performance

The company has a market capitalization of $1.02 billion, a P/E ratio of 10.52 and a beta of 0.71. The business has a 50-day moving average of $37.14 and a 200-day moving average of $37.10. 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 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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