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

Shares of FirstSun Capital Bancorp (NASDAQ:FSUN) were up 8% during mid-day trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $38.69 and last traded at $37.5910. 100,362 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 218,539 shares. The stock had previously closed at $34.81.

The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.28. FirstSun Capital Bancorp had a net margin of 16.52% and a return on equity of 8.80%. The firm had revenue of $184.14 million during the quarter.

Analyst Ratings Changes

A number of brokerages recently issued reports on FSUN. Raymond James Financial reissued a “strong-buy” rating on shares of FirstSun Capital Bancorp in a research report on Friday, July 10th. Piper Sandler set a $45.00 price target on shares of FirstSun Capital Bancorp in a research report on Wednesday, April 29th. Weiss Ratings downgraded shares of FirstSun Capital Bancorp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, July 17th. Zacks Research upgraded shares of FirstSun Capital Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Finally, Stephens lowered their price objective on shares of FirstSun Capital Bancorp from $44.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, FirstSun Capital Bancorp presently has an average rating of “Moderate Buy” and an average price target of $44.00.

Hedge Funds Weigh In On FirstSun Capital Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE increased its stake in shares of FirstSun Capital Bancorp by 3.1% during 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 during the period. Price T Rowe Associates Inc. MD lifted its stake in FirstSun Capital Bancorp by 8.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,248 shares of the company’s stock worth $273,000 after acquiring an additional 558 shares during the last quarter. California State Teachers Retirement System lifted its stake in 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 worth $318,000 after acquiring an additional 786 shares during the last quarter. Royal Bank of Canada grew its holdings in FirstSun Capital Bancorp by 256.4% during the 1st quarter. Royal Bank of Canada now owns 1,276 shares of the company’s stock worth $47,000 after acquiring an additional 918 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in FirstSun Capital Bancorp during the 3rd quarter worth approximately $41,000.

FirstSun Capital Bancorp Stock Performance

The stock’s 50-day simple moving average is $36.24 and its 200 day simple moving average is $37.12. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.00 and a current ratio of 1.02. The company has a market capitalization of $1.76 billion, a PE ratio of 11.10 and a beta of 0.31.

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.