Firstsun Capital Bancorp (NASDAQ:FSUN) Sees Strong Trading Volume – Should You Buy?

Shares of Firstsun Capital Bancorp (NASDAQ:FSUN) saw an uptick in trading volume on Tuesday . 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.

Analyst Upgrades and Downgrades

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

Firstsun Capital Bancorp Stock Performance

The company’s fifty day moving average is $40.25 and its 200 day moving average is $40.12. 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 data 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%. Research analysts expect that Firstsun Capital Bancorp will post 3.6 earnings per share for the current year.

Insider Activity

In other Firstsun Capital Bancorp news, insider Mollie H. Carter bought 1,025,450 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average price of $37.06 per share, for a total transaction of $38,003,177.00. Following the acquisition, the insider now owns 666,500 shares in the company, valued at approximately $24,700,490. This represents a -285.68 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Hedge Funds Weigh In On Firstsun Capital Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in FSUN. Charles Schwab Investment Management Inc. purchased a new position in Firstsun Capital Bancorp during the third quarter valued at $2,816,000. Geode Capital Management LLC purchased a new position in Firstsun Capital Bancorp in the third quarter worth about $3,066,000. Wellington Management Group LLP bought a new position in shares of Firstsun Capital Bancorp in the third quarter worth approximately $103,024,000. State Street Corp purchased a new stake in shares of Firstsun Capital Bancorp during the third quarter valued at approximately $1,367,000. Finally, Empowered Funds LLC purchased a new position in Firstsun Capital Bancorp in the 4th quarter worth approximately $1,430,000.

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.