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

Firstsun Capital Bancorp (NASDAQ:FSUN) saw strong trading volume on Monday . 1,495,281 shares traded hands during mid-day trading, an increase of 3,159% from the previous session’s volume of 45,879 shares.The stock last traded at $36.27 and had previously closed at $37.75.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $47.00 target price (up previously from $46.00) on shares of Firstsun Capital Bancorp in a report on Monday, February 3rd. Piper Sandler assumed coverage on Firstsun Capital Bancorp in a research note on Friday, February 21st. They set an “overweight” rating and a $51.00 price objective on the stock.

Firstsun Capital Bancorp Price Performance

The firm’s 50 day moving average is $40.24 and its 200 day moving average is $39.83. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.02 and a current ratio of 1.03.

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 net margin of 13.77% and a return on equity of 8.56%. As a group, equities research analysts anticipate that Firstsun Capital Bancorp will post 3.6 earnings per share for the current year.

Insider Buying and Selling at Firstsun Capital Bancorp

In related news, insider Mollie H. Carter acquired 1,025,450 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average cost of $37.06 per share, for a total transaction of $38,003,177.00. Following the completion of the transaction, the insider now owns 666,500 shares in the company, valued at approximately $24,700,490. This trade represents a -285.68 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Hedge Funds Weigh In On Firstsun Capital Bancorp

A number of institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC grew its position in Firstsun Capital Bancorp by 165.3% in 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 in the last quarter. Quantbot Technologies LP purchased a new position in shares of Firstsun Capital Bancorp in the 4th quarter worth about $49,000. Bank of America Corp DE increased its position in shares of 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 valued at $161,000 after purchasing an additional 3,919 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of Firstsun Capital Bancorp during the 4th quarter valued at about $220,000. Finally, King Luther Capital Management Corp purchased a new position in shares of Firstsun Capital Bancorp during the 4th 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.