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

FirstSun Capital Bancorp (NASDAQ:FSUN) shares saw an uptick in trading volume on Tuesday after the company announced better than expected quarterly earnings. Approximately 646,638 shares were traded 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, beating analysts’ consensus estimates of $0.98 by $0.05. FirstSun Capital Bancorp had a net margin of 6.60% and a return on equity of 7.16%. The firm had revenue of $179.68 million for the quarter.

Analyst Upgrades and Downgrades

FSUN has been the subject of several analyst reports. Wall Street Zen raised FirstSun Capital Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of FirstSun Capital Bancorp in a research report on Friday, July 10th. Stephens dropped their price objective on shares of FirstSun Capital Bancorp from $46.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 29th. Keefe, Bruyette & Woods raised their price target on shares of FirstSun Capital Bancorp from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Finally, Zacks Research lowered shares of FirstSun Capital Bancorp from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, FirstSun Capital Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.25.

Hedge Funds Weigh In On FirstSun Capital Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada grew its position in shares of FirstSun Capital Bancorp by 256.4% during the first quarter. Royal Bank of Canada now owns 1,276 shares of the company’s stock worth $47,000 after buying an additional 918 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of FirstSun Capital Bancorp in the third quarter worth $75,000. Versant Capital Management Inc raised its holdings in FirstSun Capital Bancorp by 358.2% in the third quarter. Versant Capital Management Inc now owns 1,961 shares of the company’s stock valued at $76,000 after acquiring an additional 1,533 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in FirstSun Capital Bancorp by 10,782.8% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,312 shares of the company’s stock valued at $245,000 after acquiring an additional 6,254 shares in the last quarter. Finally, EP Wealth Advisors LLC bought a new position in FirstSun Capital Bancorp during the 2nd quarter valued at $256,000.

FirstSun Capital Bancorp Stock Up 1.9%

The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $1.89 billion, a P/E ratio of 20.56 and a beta of 0.34. The stock’s 50 day simple moving average is $39.48 and its 200 day simple moving average is $37.88.

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.