FirstSun Capital Bancorp (NASDAQ:FSUN) Sees Large Volume Increase After Earnings Beat

Key Points

• FirstSun Capital Bancorp beat earnings expectations, reporting quarterly EPS of $1.03 versus the $0.98 consensus estimate and revenue of $179.68 million.
• Trading volume surged 156% above average to approximately 646,638 shares, while the stock rose 1.9% to about $40.53.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $45.25, implying potential upside from recent levels.

FirstSun Capital Bancorp (NASDAQ:FSUN - Get Free Report) shares saw strong trading volume on Tuesday after the company announced better than expected quarterly earnings. Approximately 646,638 shares traded hands during trading, an increase of 156% from the average daily volume of 252,702 shares. The stock last traded at $40.5260 and had previously closed at $39.80.

The company reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.05. The company had revenue of $179.68 million for the quarter. FirstSun Capital Bancorp had a net margin of 6.60% and a return on equity of 7.16%.

Analyst Ratings Changes

A number of research firms have recently issued reports on FSUN. Keefe, Bruyette & Woods boosted their target price on FirstSun Capital Bancorp from $43.00 to $45.00 and gave the company an "outperform" rating in a report on Wednesday, August 5th. Stephens lowered their price objective on FirstSun Capital Bancorp from $46.00 to $45.00 and set an "overweight" rating on the stock in a report on Wednesday, July 29th. Raymond James Financial restated a "strong-buy" rating on shares of FirstSun Capital Bancorp in a research note on Friday, July 10th. Weiss Ratings raised shares of FirstSun Capital Bancorp from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, October 15th. Finally, Piper Sandler boosted their price target on FirstSun Capital Bancorp from $45.00 to $47.00 and gave the stock an "overweight" rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $45.25.

Hedge Funds Weigh In On FirstSun Capital Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada grew its holdings in 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 period. State of Alaska Department of Revenue purchased a new stake in shares of FirstSun Capital Bancorp during the 3rd quarter valued at $75,000. Versant Capital Management Inc increased its holdings in shares of FirstSun Capital Bancorp by 358.2% during the 3rd quarter. Versant Capital Management Inc now owns 1,961 shares of the company's stock worth $76,000 after buying an additional 1,533 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of FirstSun Capital Bancorp by 10,782.8% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,312 shares of the company's stock worth $245,000 after buying an additional 6,254 shares during the last quarter. Finally, EP Wealth Advisors LLC purchased a new position in shares of FirstSun Capital Bancorp in the 2nd quarter worth $256,000.

FirstSun Capital Bancorp Stock Up 1.9%

The stock has a fifty day moving average of $39.48 and a two-hundred day moving average of $37.88. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.11. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 20.56 and a beta of 0.34.

FirstSun Capital Bancorp Company Profile

FirstSun Capital Bancorp is a bank holding company that operates primarily through Sunflower Bank, N.A. The company provides banking and financial services to individuals, businesses, agricultural customers and institutions.

Its offerings include checking and savings accounts, certificates of deposit, residential and commercial real estate lending, consumer loans, commercial and industrial financing, agricultural loans, treasury management and online and mobile banking services. The company also provides wealth management, trust and investment services through affiliated operations.

Sunflower Bank serves customers through branches and other delivery channels in Colorado, Kansas, New Mexico, Oklahoma and Texas.

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