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

Firstsun Capital Bancorp (NASDAQ:FSUN) saw unusually-strong trading volume on Tuesday . Approximately 44,048 shares were traded 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

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

Firstsun Capital Bancorp Price Performance

The firm’s 50-day simple moving average is $40.25 and its 200-day simple moving average is $40.12. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.03 and a quick ratio of 1.02.

Firstsun Capital Bancorp (NASDAQ:FSUN) last announced its quarterly earnings results on Monday, January 27th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, research analysts expect that Firstsun Capital Bancorp will post 3.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Firstsun Capital Bancorp

In other Firstsun Capital Bancorp news, insider Mollie H. Carter bought 1,025,450 shares of Firstsun Capital Bancorp stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $37.06 per share, with a total value of $38,003,177.00. Following the completion of the acquisition, the insider now directly owns 666,500 shares in the company, valued at approximately $24,700,490. This trade represents a -285.68 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Institutional Investors Weigh In On Firstsun Capital Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its holdings 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 buying an additional 405 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Firstsun Capital Bancorp in the 4th quarter valued at approximately $49,000. Bank of America Corp DE grew its position in 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 worth $161,000 after acquiring an additional 3,919 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of Firstsun Capital Bancorp during the 4th quarter worth about $220,000. Finally, King Luther Capital Management Corp acquired a new position in shares of Firstsun Capital Bancorp in the 4th quarter worth 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.