ELCO Management Co. LLC Cuts Stock Position in FirstSun Capital Bancorp $FSUN

ELCO Management Co. LLC reduced its position in FirstSun Capital Bancorp (NASDAQ:FSUN) by 34.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,100 shares of the company’s stock after selling 6,900 shares during the quarter. ELCO Management Co. LLC’s holdings in FirstSun Capital Bancorp were worth $455,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. KLP Kapitalforvaltning AS purchased a new position in shares of FirstSun Capital Bancorp in the 1st quarter worth about $69,000. PDT Partners LLC purchased a new position in shares of FirstSun Capital Bancorp in the 1st quarter worth about $347,000. Y Intercept Hong Kong Ltd purchased a new position in shares of FirstSun Capital Bancorp in the 2nd quarter worth about $509,000. American Century Companies Inc. purchased a new position in shares of FirstSun Capital Bancorp in the 1st quarter worth about $580,000. Finally, Swiss National Bank purchased a new position in shares of FirstSun Capital Bancorp in the 1st quarter worth about $680,000.

FirstSun Capital Bancorp Trading Down 16.5%

NASDAQ FSUN opened at $33.51 on Wednesday. FirstSun Capital Bancorp has a 1-year low of $31.70 and a 1-year high of $45.32. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average of $38.81 and a 200-day moving average of $36.88. The firm has a market cap of $932.58 million, a PE ratio of 10.60 and a beta of 1.02.

FirstSun Capital Bancorp (NASDAQ:FSUN) last released its earnings results on Monday, October 27th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.08). FirstSun Capital Bancorp had a net margin of 15.94% and a return on equity of 9.12%. The company had revenue of $108.51 million during the quarter, compared to the consensus estimate of $107.10 million. As a group, sell-side analysts forecast that FirstSun Capital Bancorp will post 3.6 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on FSUN. Wall Street Zen upgraded FirstSun Capital Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. Weiss Ratings restated a “hold (c+)” rating on shares of FirstSun Capital Bancorp in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $46.00.

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.