FirstSun Capital Bancorp (NASDAQ:FSUN) Trading 8% Higher on Better-Than-Expected Earnings

Key Points

• FirstSun Capital Bancorp shares rose 8% after the company reported quarterly EPS of $0.45, surpassing the $0.17 analyst consensus by $0.28. Quarterly revenue totaled $184.14 million.
• Analyst sentiment remains generally positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $44.00, despite some recent downgrades to hold and sell.
• The company’s shares trade at a market capitalization of approximately $1.76 billion and a price-to-earnings ratio of 11.10, while several institutional investors recently increased their positions.

FirstSun Capital Bancorp (NASDAQ:FSUN - Get Free Report)'s share price was up 8% during mid-day trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $38.69 and last traded at $37.5910. 100,362 shares traded hands during trading, a decline of 54% from the average session volume of 218,539 shares. The stock had previously closed at $34.81.

The company reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.28. FirstSun Capital Bancorp had a return on equity of 8.80% and a net margin of 16.52%.The firm had revenue of $184.14 million for the quarter.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Raymond James Financial restated a "strong-buy" rating on shares of FirstSun Capital Bancorp in a research report on Friday, July 10th. Weiss Ratings cut shares of FirstSun Capital Bancorp from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, July 17th. Piper Sandler set a $45.00 price target on shares of FirstSun Capital Bancorp in a report on Wednesday, April 29th. Wall Street Zen cut shares of FirstSun Capital Bancorp from a "hold" rating to a "sell" rating in a research report on Sunday, July 12th. Finally, Zacks Research raised shares of FirstSun Capital Bancorp from a "strong sell" rating to a "hold" rating in a report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $44.00.

Institutional Investors Weigh In On FirstSun Capital Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its stake in shares of FirstSun Capital Bancorp by 3.1% in the second quarter. Bank of America Corp DE now owns 15,734 shares of the company's stock worth $547,000 after buying an additional 479 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of FirstSun Capital Bancorp by 8.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,248 shares of the company's stock worth $273,000 after purchasing an additional 558 shares during the last quarter. California State Teachers Retirement System grew its position in shares of FirstSun Capital Bancorp by 9.4% in the second quarter. California State Teachers Retirement System now owns 9,165 shares of the company's stock valued at $318,000 after purchasing an additional 786 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of FirstSun Capital Bancorp by 256.4% in the first quarter. Royal Bank of Canada now owns 1,276 shares of the company's stock valued at $47,000 after purchasing an additional 918 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in FirstSun Capital Bancorp during the third quarter worth approximately $41,000.

FirstSun Capital Bancorp Price Performance

The stock has a 50 day simple moving average of $36.24 and a two-hundred day simple moving average of $37.12. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 11.10 and a beta of 0.31. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.02 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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