Piper Sandler Has Lowered Expectations for FirstSun Capital Bancorp (NASDAQ:FSUN) Stock Price

FirstSun Capital Bancorp (NASDAQ:FSUN) had its price target reduced by stock analysts at Piper Sandler from $50.00 to $48.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 30.86% from the company’s current price.

Several other brokerages also recently issued reports on FSUN. Keefe, Bruyette & Woods raised their price target on FirstSun Capital Bancorp from $42.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. Zacks Research lowered shares of FirstSun Capital Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Weiss Ratings restated a “hold (c+)” rating on shares of FirstSun Capital Bancorp in a research note on Friday, March 27th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of FirstSun Capital Bancorp in a report on Tuesday, January 27th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.33.

FirstSun Capital Bancorp Stock Performance

FirstSun Capital Bancorp stock opened at $36.68 on Thursday. FirstSun Capital Bancorp has a 52 week low of $29.95 and a 52 week high of $42.34. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.00 and a current ratio of 1.01. The stock has a market capitalization of $1.02 billion, a P/E ratio of 10.60 and a beta of 0.71. The stock has a 50-day simple moving average of $37.60 and a 200 day simple moving average of $37.30.

FirstSun Capital Bancorp (NASDAQ:FSUN) last released its quarterly earnings data on Monday, January 26th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.09. FirstSun Capital Bancorp had a return on equity of 9.00% and a net margin of 17.19%.The firm had revenue of $110.18 million for the quarter, compared to analyst estimates of $108.20 million. Analysts expect that FirstSun Capital Bancorp will post 3.6 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Peter E. Murphy acquired 1,500 shares of the stock in a transaction on Monday, March 16th. The shares were purchased at an average price of $35.28 per share, for a total transaction of $52,920.00. Following the purchase, the director directly owned 1,500 shares in the company, valued at approximately $52,920. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 12.52% of the stock is currently owned by company insiders.

Institutional Trading of FirstSun Capital Bancorp

Several large investors have recently modified their holdings of the stock. Millennium Management LLC increased its position in shares of FirstSun Capital Bancorp by 199.9% in the first quarter. Millennium Management LLC now owns 166,031 shares of the company’s stock worth $6,002,000 after purchasing an additional 110,662 shares during the period. Goldman Sachs Group Inc. lifted its position in FirstSun Capital Bancorp by 13.8% during the first quarter. Goldman Sachs Group Inc. now owns 102,390 shares of the company’s stock worth $3,701,000 after purchasing an additional 12,449 shares during the period. Empowered Funds LLC lifted its position in FirstSun Capital Bancorp by 103.1% during the first quarter. Empowered Funds LLC now owns 72,528 shares of the company’s stock worth $2,622,000 after purchasing an additional 36,813 shares during the period. Geode Capital Management LLC grew its stake in FirstSun Capital Bancorp by 123.3% during the second quarter. Geode Capital Management LLC now owns 297,908 shares of the company’s stock worth $10,354,000 after buying an additional 164,507 shares in the last quarter. Finally, Swiss National Bank increased its holdings in FirstSun Capital Bancorp by 12.8% in the 2nd quarter. Swiss National Bank now owns 21,200 shares of the company’s stock valued at $737,000 after buying an additional 2,400 shares during the period.

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.