FirstSun Capital Bancorp (FSUN) AI Stock Analysis

• Market Cap: $1.02B
• Dividend Yield: N/A
• Average Volume (3M): 136.97K
• Price to Earnings (P/E): 10.5
• Beta (1Y): 0.64
• Revenue Growth: 4.44%
• EPS Growth: 3.19%
• Country: US
• Employees: 1,127
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 0.95
• Shares Outstanding: 27,887,337
• 10 Day Avg. Volume: 122,752
• 30 Day Avg. Volume: 136,969
• PEG Ratio: -0.43
• Price to Book (P/B): 1.06
• Price to Sales (P/S): 2.03
• P/FCF Ratio: 11.48
• Enterprise Value/Market Cap: 0.39
• Enterprise Value/Revenue: 0.73
• Enterprise Value/Gross Profit: 1.07
• Enterprise Value/Ebitda: 3.30
• 1Y Price Target: $45.50
• Price Target Upside: 24.76% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): 3.92
• Revenue Forecast (FY): $692.14M

• Rating: 72 Outperform
• Price Target: $42.00 ▲(15.16% Upside)
• Action: Downgraded Date: 01/27/26
• Date: Action: Downgraded 01/27/26

The score is driven primarily by strong financial performance (growth, margins, and low leverage), partially offset by weaker cash conversion efficiency. Technical indicators are neutral, while valuation appears reasonable on P/E; recent corporate events are broadly positive and supportive of the strategic path.

Positive Factors

Strong revenue growth and healthy margins

Sustained TTM revenue growth of 18.3% combined with double‑digit net and EBITDA margins indicates durable core earning power. These margins provide recurring cash to fund loan growth, absorb credit volatility, and invest in products and branches, supporting multi‑quarter profitability resilience.

Low leverage and strong capital base

A very low debt‑to‑equity ratio gives the bank capital flexibility, lowers solvency risk, and supports regulatory and lending capacity. This conservatism preserves credit access for growth, strengthens loss absorption through cycles, and enables strategic initiatives without levering the balance sheet.

Institutional investment and board governance support

A $40M, 4% strategic stake and Board Representative Letter Agreement signal institutional confidence and bring governance alignment. That permanent capital and board engagement can improve oversight, aid execution of growth plans, and bolster credibility with lenders and counterparties over coming quarters.

Negative Factors

Weak operating cash conversion

Operating cash flow only modestly exceeds reported net income, suggesting earnings include noncash or timing items. Persistent weak cash conversion can constrain funding for loan originations, dividends, and reserves, increasing reliance on financing or asset sales across several quarters.

Moderate and declining ROE

A mid‑single‑digit ROE that has declined signals limited profit generation on equity and may constrain long‑term shareholder returns. Without margin expansion or higher asset yields, management faces tradeoffs between boosting ROE, retaining capital for growth, or returning capital to shareholders.

Merger integration and execution risk

The pending First Foundation merger materially changes scale and operations; integration complexity can disrupt cost synergies, client retention, and systems migration. Execution risk and regulatory approvals may pressure resources and performance for multiple quarters during consolidation and cultural alignment.

FirstSun Capital Bancorp Business Overview & Revenue Model

Company Description

FirstSun Capital Bancorp operates as a bank holding company for Sunflower Bank that provides a range of commercial and consumer banking, and financial services to small and medium-sized companies. The company offers deposit products, including noninterest bearing accounts, interest-bearing demand products, checking and savings accounts, money market and term certificate accounts, and certificates of deposit. It also provides commercial and industrial, owner-occupied and non-owner occupied commercial real estate mortgage, 1-4 family, home equity, and multi-family loans, as well as consumer loans comprising direct consumer installment loans, credit card accounts, overdrafts, and other revolving loans. In addition, it provides remote deposit and cash management products; treasury management products and services; and wealth management and trust products, including personal trust and agency accounts, employee benefit and retirement related trust and agency accounts, investment management and advisory agency accounts, and foundation and endowment trust and agency accounts. It provides its services through branches in Kansas, Colorado, New Mexico, Texas, and Arizona. The company was formerly known as Sunflower Financial, Inc. and changed its name to FirstSun Capital Bancorp in June 2017. FirstSun Capital Bancorp was founded in 1892 and is headquartered in Denver, Colorado.

How the Company Makes Money

FirstSun Capital Bancorp generates revenue primarily through interest income from loans and investments, as well as non-interest income from fees and services. The company originates various types of loans, including commercial, consumer, and real estate loans, which are a significant source of interest income. Additionally, FSUN earns revenue from deposit services, treasury management, and other banking fees. Strategic partnerships with other financial institutions may enhance its service offerings and contribute to its earnings by expanding its customer base and cross-selling opportunities.

FirstSun Capital Bancorp Financial Statement Overview

Summary

Strong revenue growth (TTM +18.3%) and solid profitability (net margin 16.2%, EBITDA margin 22.0%) support a high score. Balance sheet leverage is low (debt-to-equity 0.076), but cash conversion is a concern given the low operating cash flow to net income ratio (1.34%).

Income Statement

FirstSun Capital Bancorp shows strong revenue growth with a TTM increase of 18.3% and consistent profitability, evidenced by a net profit margin of 16.2% and a gross profit margin of 67.9%. The EBIT and EBITDA margins are healthy at 20.1% and 22.0%, respectively, indicating efficient operations. However, the slight decline in gross profit margin from previous years suggests potential cost pressures.

Balance Sheet

The company maintains a solid balance sheet with a low debt-to-equity ratio of 0.076, reflecting prudent financial management. The return on equity is moderate at 8.3%, indicating reasonable profitability relative to shareholder equity. The equity ratio is strong, suggesting a stable financial structure, though the decrease in ROE from previous periods indicates a need for improved profitability.

Cash Flow

Cash flow analysis reveals a robust free cash flow growth rate of 63.2% TTM, demonstrating strong cash generation capabilities. The operating cash flow to net income ratio is low at 1.34%, suggesting potential challenges in converting income into cash. The free cash flow to net income ratio is high at 91.6%, indicating effective cash management despite the low operating cash flow coverage.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	552.05M	540.07M	485.21M	347.92M	287.36M	300.01M
Gross Profit	375.24M	349.89M	346.71M	304.68M	270.23M	256.02M
EBITDA	121.63M	105.26M	143.72M	86.19M	60.44M	65.68M
Net Income	89.48M	75.63M	103.53M	59.18M	43.16M	47.59M
Balance Sheet
Total Assets	8.50B	8.10B	7.88B	7.43B	5.67B	5.00B
Cash, Cash Equivalents and Short-Term Investments	660.20M	620.44M	996.12M	880.50M	1.24B	670.56M
Total Debt	85.99M	114.92M	515.90M	792.11M	162.01M	183.73M
Total Liabilities	7.37B	7.06B	7.00B	6.66B	5.14B	4.51B
Stockholders Equity	1.13B	1.04B	877.20M	774.54M	524.04M	485.79M
Cash Flow
Free Cash Flow	87.68M	95.71M	120.91M	94.72M	109.65M	-6.70M
Operating Cash Flow	95.69M	101.12M	125.18M	96.92M	113.11M	-547.00K
Investing Cash Flow	-247.19M	-80.87M	-327.28M	-538.12M	-293.92M	-662.91M
Financing Cash Flow	237.72M	116.31M	337.94M	116.27M	647.30M	720.90M

FirstSun Capital Bancorp Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 36.47
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FSUN, the sentiment is Negative. The current price of 36.47 is below the 20-day moving average (MA) of 39.18, below the 50-day MA of 38.81, and below the 200-day MA of 37.08, indicating a bearish trend. The MACD of -0.31 indicates Positive momentum. The RSI at 39.20 is Neutral, neither overbought nor oversold. The STOCH value of 38.68 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FSUN.

FirstSun Capital Bancorp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AMAL	79 Outperform	$1.15B	11.29	13.88%	1.70%	4.33%	-2.20%
FMBH	74 Outperform	$983.96M	10.71	9.74%	2.43%	3.54%	12.23%
FSUN	72 Outperform	$1.02B	10.52	8.28%	―	4.44%	3.19%
BHRB	71 Outperform	$968.44M	8.32	13.70%	3.49%	53.68%	290.47%
UVSP	70 Outperform	$942.20M	10.71	9.61%	2.59%	4.49%	20.44%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
SBSI	53 Neutral	$941.67M	13.68	8.53%	4.59%	-4.08%	-16.80%

FirstSun Capital Bancorp Corporate Events

FirstSun Capital Posts Strong Q4 Results Amid Merger Progress

On January 23, 2026, FirstSun Capital Bancorp announced that longtime director Diane L. Merdian plans to resign from the boards of both the company and Sunflower Bank, effective at the earlier of the closing of its proposed merger with First Foundation Inc. or the 2026 annual shareholders’ meeting, while the board simultaneously appointed Wentworth Capital Management founder and CEO Peter E. Murphy as a Class III director and bank director, aligning with the nomination rights of the Mollie Hale Carter Trust Stockholder Group and reinforcing governance continuity. Separately, on January 26, 2026, FirstSun reported strong fourth-quarter 2025 results, with net income rising to $24.8 million and adjusted earnings of $26.9 million, supported by a 4.18% net interest margin, improved returns on assets and equity, stable loans and deposits, stronger capital ratios and an efficiency ratio that remained in the mid-60% range, underscoring solid profitability and balance-sheet resilience as the bank advances its strategic growth plans and integration work tied to the pending First Foundation merger.

The most recent analyst rating on (FSUN) stock is a Buy with a $46.00 price target. To see the full list of analyst forecasts on FirstSun Capital Bancorp stock, see the FSUN Stock Forecast page.

Castle Creek Acquires 4% Stake in FirstSun

On December 3, 2025, FirstSun Capital Bancorp entered into a Board Representative Letter Agreement with Castle Creek Capital Partners, allowing Castle Creek to nominate a board member following the proposed merger with First Foundation Inc. or the 2026 Annual Meeting. Additionally, Isabella Cunningham announced her resignation from the board effective upon the merger or the annual meeting. On December 4, 2025, Castle Creek acquired $40 million of FirstSun’s common stock, becoming a significant institutional stockholder with a 4% stake. This strategic investment is expected to enhance FirstSun’s performance and reduce its risk profile, aligning with the company’s growth strategy and expanding its franchise and geographic reach.

The most recent analyst rating on (FSUN) stock is a Buy with a $37.00 price target. To see the full list of analyst forecasts on FirstSun Capital Bancorp stock, see the FSUN Stock Forecast page.

FirstSun Capital Bancorp Announces Merger with First Foundation

On October 27, 2025, FirstSun Capital Bancorp and First Foundation Inc. announced a merger agreement where First Foundation will merge into FirstSun, with FirstSun continuing as the surviving corporation. The merger, expected to close in the second quarter of 2026, will also see First Foundation Bank merge into Sunflower Bank, with Sunflower Bank as the surviving entity. Upon completion, First Foundation stockholders will own approximately 40.5% of the combined company. The merger is subject to regulatory and stockholder approvals, and a termination fee is applicable under certain conditions.

The most recent analyst rating on (FSUN) stock is a Hold with a $35.00 price target. To see the full list of analyst forecasts on FirstSun Capital Bancorp stock, see the FSUN Stock Forecast page.

FirstSun Capital Bancorp Announces Merger with First Foundation

On October 27, 2025, FirstSun Capital Bancorp and First Foundation Inc. announced a merger agreement where First Foundation will merge into FirstSun, with Sunflower Bank as the surviving entity. The merger, expected to close in the second quarter of 2026, will involve stock conversion for First Foundation shareholders and additional cash consideration for warrant holders.

The most recent analyst rating on (FSUN) stock is a Hold with a $43.00 price target. To see the full list of analyst forecasts on FirstSun Capital Bancorp stock, see the FSUN Stock Forecast page.