FirstSun Capital Bancorp (NASDAQ:FSUN) Trading Down 8% Following Analyst Downgrade

Key Points

• Shares fell about 8% intraday to roughly $34.31 after Stephens cut its price target from $44 to $43, with trading volume up ~65% to ~329,246 shares.
• Quarterly results missed expectations: FirstSun reported EPS of $0.84 vs. a $0.90 consensus and revenue of $109.95 million; the company has a market cap of ~$969 million and a P/E of ~10.1.
• Analyst sentiment remains generally positive (five Buys, one Hold) with a consensus target of $44 ("Moderate Buy"), while insiders and institutions showed activity — a director bought 1,500 shares and firms like Wellington increased holdings.

Shares of FirstSun Capital Bancorp (NASDAQ:FSUN - Get Free Report) dropped 8% during trading on Wednesday after Stephens lowered their price target on the stock from $44.00 to $43.00. Stephens currently has an overweight rating on the stock. FirstSun Capital Bancorp traded as low as $34.40 and last traded at $34.31. Approximately 329,246 shares traded hands during mid-day trading, an increase of 65% from the average daily volume of 200,049 shares. The stock had previously closed at $37.31.

A number of other equities analysts also recently commented on the stock. Raymond James Financial restated an "outperform" rating on shares of FirstSun Capital Bancorp in a research note on Tuesday, January 27th. Weiss Ratings raised shares of FirstSun Capital Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, April 14th. Zacks Research cut shares of FirstSun Capital Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. Finally, Piper Sandler lowered their price target on shares of FirstSun Capital Bancorp from $50.00 to $48.00 and set an "overweight" rating for the company in a research report on Thursday, April 2nd. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, FirstSun Capital Bancorp has an average rating of "Moderate Buy" and a consensus target price of $44.00.

Insider Buying and Selling

In other news, Director Peter E. Murphy bought 1,500 shares of the firm's stock in a transaction that occurred on Monday, March 16th. The stock was bought at an average price of $35.28 per share, with a total value of $52,920.00. Following the completion of the transaction, the director directly owned 1,500 shares of the company's stock, valued at approximately $52,920. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.52% of the stock is owned by insiders.

Institutional Investors Weigh In On FirstSun Capital Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings in shares of FirstSun Capital Bancorp by 7.0% in the fourth quarter. Wellington Management Group LLP now owns 2,880,385 shares of the company's stock worth $108,403,000 after buying an additional 189,493 shares during the last quarter. State Street Corp raised its holdings in shares of FirstSun Capital Bancorp by 2.1% in the fourth quarter. State Street Corp now owns 459,011 shares of the company's stock worth $17,275,000 after buying an additional 9,381 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of FirstSun Capital Bancorp by 0.4% in the third quarter. Alliancebernstein L.P. now owns 440,784 shares of the company's stock worth $17,098,000 after buying an additional 1,929 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of FirstSun Capital Bancorp by 32.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 284,023 shares of the company's stock worth $10,689,000 after buying an additional 68,839 shares during the last quarter. Finally, Two Sigma Investments LP raised its holdings in shares of FirstSun Capital Bancorp by 96.7% in the third quarter. Two Sigma Investments LP now owns 201,729 shares of the company's stock worth $7,825,000 after buying an additional 99,196 shares during the last quarter.

FirstSun Capital Bancorp Trading Down 7.0%

The stock's fifty day simple moving average is $37.10 and its 200-day simple moving average is $37.09. The firm has a market cap of $968.79 million, a PE ratio of 10.14 and a beta of 0.71. 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 (NASDAQ:FSUN - Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.90 by ($0.06). The company had revenue of $109.95 million during the quarter. FirstSun Capital Bancorp had a return on equity of 8.90% and a net margin of 16.52%. On average, sell-side analysts forecast that FirstSun Capital Bancorp will post 4.05 earnings per share for the current 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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