Firstsun Capital Bancorp (NASDAQ:FSUN) Sees Strong Trading Volume – Here’s What Happened

Firstsun Capital Bancorp (NASDAQ:FSUN) shares saw unusually-high trading volume on Wednesday . Approximately 73,338 shares traded hands during mid-day trading, an increase of 34% from the previous session’s volume of 54,534 shares.The stock last traded at $37.52 and had previously closed at $37.94.

Analysts Set New Price Targets

Several research analysts have recently commented on FSUN shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $47.00 price target (up previously from $46.00) on shares of Firstsun Capital Bancorp in a report on Monday, February 3rd. Piper Sandler initiated coverage on shares of Firstsun Capital Bancorp in a report on Friday, February 21st. They issued an “overweight” rating and a $51.00 target price on the stock. Finally, Raymond James upgraded shares of Firstsun Capital Bancorp from a “market perform” rating to an “outperform” rating and set a $42.00 price target for the company in a report on Tuesday, November 19th.

Firstsun Capital Bancorp Price Performance

The business has a 50-day moving average of $40.34 and a 200-day moving average of $40.24. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.28.

Firstsun Capital Bancorp (NASDAQ:FSUN) last announced its quarterly earnings results on Monday, January 27th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. Firstsun Capital Bancorp had a net margin of 13.77% and a return on equity of 8.56%. On average, sell-side analysts forecast that Firstsun Capital Bancorp will post 3.6 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its holdings in shares of Firstsun Capital Bancorp by 165.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 650 shares of the company’s stock valued at $26,000 after buying an additional 405 shares during the period. Quantbot Technologies LP purchased a new position in Firstsun Capital Bancorp in the fourth quarter valued at $49,000. Bank of America Corp DE grew its stake in Firstsun Capital Bancorp by 4,306.6% during the 4th quarter. Bank of America Corp DE now owns 4,010 shares of the company’s stock worth $161,000 after purchasing an additional 3,919 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in Firstsun Capital Bancorp during the 4th quarter worth about $220,000. Finally, King Luther Capital Management Corp acquired a new stake in Firstsun Capital Bancorp in the 4th quarter valued at about $250,000.

Firstsun Capital Bancorp Company Profile

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.