The Manufacturers Life Insurance Company Makes New Investment in FirstSun Capital Bancorp $FSUN

The Manufacturers Life Insurance Company acquired a new position in FirstSun Capital Bancorp (NASDAQ:FSUN) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 14,769 shares of the company’s stock, valued at approximately $573,000.

Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in FirstSun Capital Bancorp in the 2nd quarter worth approximately $73,455,000. Wellington Management Group LLP raised its stake in shares of FirstSun Capital Bancorp by 7.0% during the fourth quarter. Wellington Management Group LLP now owns 2,880,385 shares of the company’s stock worth $108,403,000 after acquiring an additional 189,493 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of FirstSun Capital Bancorp during the third quarter worth approximately $6,697,000. Dimensional Fund Advisors LP raised its stake in shares of FirstSun Capital Bancorp by 40.3% during the first quarter. Dimensional Fund Advisors LP now owns 398,362 shares of the company’s stock worth $14,523,000 after acquiring an additional 114,339 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of FirstSun Capital Bancorp by 199.9% in the 1st quarter. Millennium Management LLC now owns 166,031 shares of the company’s stock worth $6,002,000 after acquiring an additional 110,662 shares during the last quarter.

FirstSun Capital Bancorp Price Performance

Shares of FirstSun Capital Bancorp stock opened at $40.92 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.92. FirstSun Capital Bancorp has a 52-week low of $29.95 and a 52-week high of $42.34. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 20.77 and a beta of 0.32. The company’s 50 day moving average price is $38.57 and its 200-day moving average price is $37.31.

FirstSun Capital Bancorp (NASDAQ:FSUN) last posted its quarterly earnings results on Monday, July 27th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.28. FirstSun Capital Bancorp had a net margin of 6.60% and a return on equity of 7.16%. The company had revenue of $184.14 million during the quarter. Equities research analysts forecast that FirstSun Capital Bancorp will post 3.34 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on FSUN shares. Raymond James Financial reaffirmed a “strong-buy” rating on shares of FirstSun Capital Bancorp in a research note on Friday, July 10th. Piper Sandler boosted their price target on shares of FirstSun Capital Bancorp from $45.00 to $47.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Keefe, Bruyette & Woods upped their price target on shares of FirstSun Capital Bancorp from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Wall Street Zen raised FirstSun Capital Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Zacks Research upgraded FirstSun Capital Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $45.25.

FirstSun Capital Bancorp 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. The Mortgage Operations segment originates, sells, services, and manages market risk from changes in interest rates on one-to-four family residential mortgage loans to sell and hold. The company is founded on November 9, 1981 headquartered in Denver, CO.