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

Firstsun Capital Bancorp (NASDAQ:FSUN)’s share price 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 business’s stock in a transaction that occurred on 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 completion of the purchase, the insider now directly owns 666,500 shares in the company, valued at $24,700,490. The trade was a -285.68 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Analyst Ratings Changes

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

Firstsun Capital Bancorp Price Performance

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

Firstsun Capital Bancorp (NASDAQ:FSUN) last issued its earnings results on Monday, January 27th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Firstsun Capital Bancorp had a net margin of 13.77% and a return on equity of 8.56%. On average, equities research analysts anticipate that Firstsun Capital Bancorp will post 3.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Firstsun Capital Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Two Sigma Advisers LP bought a new position in shares of Firstsun Capital Bancorp in the fourth quarter valued at approximately $284,000. Two Sigma Investments LP bought a new position in shares of Firstsun Capital Bancorp in the fourth quarter valued at approximately $1,526,000. OMERS ADMINISTRATION Corp bought a new position in shares of Firstsun Capital Bancorp in the fourth quarter valued at approximately $641,000. Millennium Management LLC boosted its position in shares of Firstsun Capital Bancorp by 223.9% in the fourth quarter. Millennium Management LLC now owns 55,369 shares of the company’s stock valued at $2,218,000 after acquiring an additional 38,276 shares during the period. Finally, Janus Henderson Group PLC bought a new position in shares of Firstsun Capital Bancorp in the fourth quarter valued at approximately $514,000.

Firstsun Capital Bancorp Company Profile

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.