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

Firstsun Capital Bancorp (NASDAQ:FSUN) shares saw unusually-high trading volume on Tuesday . Approximately 44,048 shares traded hands during trading, an increase of 14% from the previous session’s volume of 38,741 shares.The stock last traded at $38.39 and had previously closed at $38.68.

Analysts Set New Price Targets

FSUN has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods restated an “outperform” rating and set a $47.00 price target (up previously from $46.00) on shares of Firstsun Capital Bancorp in a research note on Monday, February 3rd. Piper Sandler initiated coverage on shares of Firstsun Capital Bancorp in a research note on Friday, February 21st. They set an “overweight” rating and a $51.00 price target on the stock.

Firstsun Capital Bancorp Trading Up 0.2 %

The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.02 and a current ratio of 1.03. The stock’s 50 day simple moving average is $40.24 and its 200-day simple moving average is $40.08.

Firstsun Capital Bancorp (NASDAQ:FSUN) last released its quarterly earnings data on Monday, January 27th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. Firstsun Capital Bancorp had a net margin of 13.77% and a return on equity of 8.56%. Research analysts forecast that Firstsun Capital Bancorp will post 3.6 EPS for the current year.

Insider Activity

In other Firstsun Capital Bancorp news, insider Mollie H. Carter acquired 1,025,450 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average cost of $37.06 per share, with a total value of $38,003,177.00. Following the acquisition, the insider now directly owns 666,500 shares of the company’s stock, valued at approximately $24,700,490. The trade was a -285.68 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

Institutional Trading of Firstsun Capital Bancorp

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