Wall Street Zen Upgrades FirstSun Capital Bancorp (NASDAQ:FSUN) to Hold

Key Points

• Wall Street Zen upgraded FirstSun Capital Bancorp from “sell” to “hold,” while analyst coverage remains generally positive with a consensus “Moderate Buy” rating and an average price target of $44.50.
• FirstSun reported quarterly earnings of $0.45 per share, exceeding the $0.17 consensus estimate, on revenue of $184.14 million.
• The stock opened at $38.66, below its 12-month high of $42.34; several major institutional investors, including Millennium Management and JPMorgan Chase, recently increased their positions.

FirstSun Capital Bancorp (NASDAQ:FSUN - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

A number of other equities research analysts have also commented on the company. Piper Sandler set a $45.00 price target on FirstSun Capital Bancorp in a research report on Wednesday, April 29th. Raymond James Financial reiterated a "strong-buy" rating on shares of FirstSun Capital Bancorp in a research report on Friday, July 10th. Stephens lowered their target price on FirstSun Capital Bancorp from $46.00 to $45.00 and set an "overweight" rating for the company in a research note on Wednesday. Weiss Ratings downgraded shares of FirstSun Capital Bancorp from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, July 17th. Finally, Zacks Research upgraded shares of FirstSun Capital Bancorp from a "strong sell" rating to a "hold" rating in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, FirstSun Capital Bancorp has a consensus rating of "Moderate Buy" and an average target price of $44.50.

FirstSun Capital Bancorp Price Performance

FSUN opened at $38.66 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.10. FirstSun Capital Bancorp has a 12 month low of $29.95 and a 12 month high of $42.34. The company has a fifty day simple moving average of $36.51 and a 200 day simple moving average of $37.14. The stock has a market cap of $1.81 billion, a P/E ratio of 19.62 and a beta of 0.31.

FirstSun Capital Bancorp (NASDAQ:FSUN - Get Free Report) last posted its earnings results on Monday, July 27th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.28. FirstSun Capital Bancorp had a return on equity of 8.23% and a net margin of 6.60%.The firm had revenue of $184.14 million for the quarter. On average, research analysts expect that FirstSun Capital Bancorp will post 3.13 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC grew its holdings in shares of FirstSun Capital Bancorp by 199.9% during the first quarter. Millennium Management LLC now owns 166,031 shares of the company's stock worth $6,002,000 after buying an additional 110,662 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in FirstSun Capital Bancorp by 13.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 102,390 shares of the company's stock valued at $3,701,000 after acquiring an additional 12,449 shares in the last quarter. Empowered Funds LLC boosted its position in FirstSun Capital Bancorp by 103.1% during the 1st quarter. Empowered Funds LLC now owns 72,528 shares of the company's stock worth $2,622,000 after acquiring an additional 36,813 shares during the last quarter. JPMorgan Chase & Co. boosted its position in FirstSun Capital Bancorp by 312.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 87,511 shares of the company's stock worth $3,041,000 after acquiring an additional 66,311 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of FirstSun Capital Bancorp by 36.6% during the 2nd quarter. Legal & General Group Plc now owns 8,749 shares of the company's stock worth $304,000 after acquiring an additional 2,344 shares in the last quarter.

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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