Firstsun Capital Bancorp (NASDAQ:FSUN) Shares Gap Up After Insider Buying Activity

Firstsun Capital Bancorp (NASDAQ:FSUN) gapped up before the market opened on Thursday after an insider bought additional shares in the company. The stock had previously closed at $37.94, but opened at $39.22. Firstsun Capital Bancorp shares last traded at $38.77, with a volume of 18,100 shares changing hands.

Specifically, insider Mollie H. Carter bought 1,025,450 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was bought at an average cost of $37.06 per share, for a total transaction of $38,003,177.00. Following the completion of the purchase, the insider now directly owns 666,500 shares in the company, valued at approximately $24,700,490. The trade was a -285.68 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analyst Weigh In

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

Firstsun Capital Bancorp Price Performance

The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.28. The business has a fifty day moving average price of $40.26 and a 200-day moving average price of $40.18.

Firstsun Capital Bancorp (NASDAQ:FSUN) last released its quarterly earnings results on Monday, January 27th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.05. Firstsun Capital Bancorp had a return on equity of 8.56% and a net margin of 13.77%. As a group, sell-side analysts predict that Firstsun Capital Bancorp will post 3.6 earnings per share for the current fiscal year.

Institutional Trading of Firstsun Capital Bancorp

A number of hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC increased its position in shares of Firstsun Capital Bancorp by 165.3% during the fourth 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 bought a new position in Firstsun Capital Bancorp during the 4th quarter valued at approximately $49,000. Bank of America Corp DE increased its position in shares of Firstsun Capital Bancorp by 4,306.6% during the fourth quarter. Bank of America Corp DE now owns 4,010 shares of the company’s stock valued at $161,000 after buying an additional 3,919 shares during the period. EntryPoint Capital LLC bought a new position in shares of Firstsun Capital Bancorp during the fourth quarter valued at approximately $220,000. Finally, King Luther Capital Management Corp purchased a new stake in shares of Firstsun Capital Bancorp during the fourth quarter valued at approximately $250,000.

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.