FirstSun Capital Bancorp (FSUN)
NASDAQ:FSUN
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FirstSun Capital Bancorp
(NASDAQ:FSUN)
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Rating:67Neutral
Price Target:
$38.00
▼(-2.86% Downside)
Action:Downgraded
Date:05/14/26
The score is primarily supported by solid profitability and a strengthened balance sheet, plus constructive integration guidance and a reasonable P/E. It is held back by weak technicals (below key moving averages with negative momentum) and recent softness in cash-flow conversion alongside near-term credit and margin-pressure items highlighted in the latest update.
Positive Factors
Strengthened balance sheet
Lower leverage and steady equity growth materially raise FirstSun's loss-absorption capacity and funding flexibility. A ~10% debt-to-equity posture and improving CET1 allow the bank to absorb shocks, support lending, pursue disciplined buybacks, and fund integration costs without undermining capital ratios over coming quarters.
Negative Factors
Weaker cash-flow conversion
A sharp TTM decline in free cash flow and operating cash flow below net income signal deterioration in cash conversion. Reduced FCF constrains flexibility for dividends, buybacks, or aggressive loan growth, and raises reliance on capital markets or retained earnings to fund strategic initiatives during the multi-quarter integration period.
Read all positive and negative factors
Positive Factors
Negative Factors
Strengthened balance sheet
Lower leverage and steady equity growth materially raise FirstSun's loss-absorption capacity and funding flexibility. A ~10% debt-to-equity posture and improving CET1 allow the bank to absorb shocks, support lending, pursue disciplined buybacks, and fund integration costs without undermining capital ratios over coming quarters.
Read all positive factors
FirstSun Capital Bancorp (FSUN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.52B
Dividend YieldN/A
Average Volume (3M)136.97K
Price to Earnings (P/E)11.8
Beta (1Y)0.65
Revenue Growth6.06%
EPS Growth9.55%
CountryUS
Employees1,127
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)3.44
Shares Outstanding44,121,883
10 Day Avg. Volume122,752
30 Day Avg. Volume136,969
Financial Highlights & Ratios
PEG Ratio0.36
Price to Book (P/B)0.91
Price to Sales (P/S)1.84
P/FCF Ratio10.08
Enterprise Value/Market Cap0.44
Enterprise Value/Revenue1.16
Enterprise Value/Gross Profit1.67
Enterprise Value/Ebitda5.23
Forecast
1Y Price Target
$44.25Price Target Upside13.11% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)4.01
Revenue Forecast (FY)$693.12M
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 non...
How the Company Makes Money
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FirstSun Capital Bancorp Earnings Call Summary
Earnings Call Date:Apr 27, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 23, 2026
Earnings Call Sentiment Positive
The call presented multiple favorable performance indicators including strong loan origination, robust NIM, double-digit NII growth, healthy noninterest income expansion, tangible book value and capital improvement, and promising early progress on First Foundation integration and cost synergies. Offsetting these positives were elevated provisioning and a meaningful Q1 charge-off event, modest deposit runoff (notably brokered deposits), near-term margin compression as repositioning occurs, and ongoing work to reduce investor CRE concentration and complete $1.3 billion of remaining loan downsizing. Management provided clear timelines and reasonable guidance for repositioning, synergy realization, and capital positioning, and emphasized there are no broad sectoral or geographic credit breakdowns—credit stress appears concentrated in a few specific credits. On balance, the positive operational and strategic progress and capital improvements outweigh the near-term credit and repositioning challenges.Positive Updates
Strong Adjusted Profitability
Adjusted net income of $23.7 million, adjusted diluted EPS of $0.84, and adjusted ROA of 1.14% for Q1.
Negative Updates
Higher Provision Expense and ACL Movement
Provision expense was $8.3 million in Q1; allowance for credit losses to loans of 1.2%, down 7 basis points from Q4, with higher provisioning driven by portfolio downgrades and rapid loan growth.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Adjusted Profitability
Adjusted net income of $23.7 million, adjusted diluted EPS of $0.84, and adjusted ROA of 1.14% for Q1.
Read all positive updates
Company Guidance
Management updated 2026 guidance that full‑year net interest margin should be in the mid‑3.80s (with Q2–Q3 stepping into the mid‑3.60s–3.70s and Q4 lifting into the high‑3.90s), noninterest income to total revenue drifting into the lower‑20s percent, adjusted efficiency (ex‑merger costs) running in the mid‑ to lower‑60s for the next couple quarters, improving to ~60% in Q4 and toward a ~58% fully phased‑in run‑rate, and net charge‑offs to average loans finishing the year in the mid‑20 bps range; loans and deposits are expected to be relatively stable through year‑end post‑reposition/post‑mark and return to balanced growth thereafter. Key repositioning targets include completing the remaining ~$1.3B of First Foundation loan downsizing by end‑Q2 (after ~$1.0B, or ~44% of a planned $2.3B, was already reduced), managing ~$310M of multifamily repricing remaining in 2026 and ~$400M in 2027, lowering investor CRE to <250% of capital by end‑Q2 (legacy <120%), and reducing wholesale funding to ~10% by end‑Q2 (legacy ~6%); the company completed securities downsizing in April, exited $1.4B of acquired FHLB term advances, and expects ~65% of cost synergies phased in by end‑Q2 with full phasing by year‑end (cost saves modestly ahead of original targets). Finance metrics reiterated/updated in the call included Q1 adjusted net income $23.7M (adj. EPS $0.84, adj. ROA 1.14%), Q1 NIM 4.25%, >16% annualized loan growth in Q1 with loan balances up ≈$267M and new loan fundings of $528M, 11% YoY NII growth, Q1 provision $8.3M, net charge‑offs ~$10.5M (≈63 bps annualized), ACL 1.2% of loans (down 7 bps), NPAs ~86 bps, TBV/share improving $0.74 to $38.57, expected CET1 ~11% post‑reposition (vs. 10.5% previously) and capacity for near‑term share repurchases, and management still views 2027 EPS in the $5+ neighborhood.FirstSun Capital Bancorp Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
82
Very Positive
Cash Flow
66
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 575.41M | 569.65M | 540.07M | 485.21M | 347.92M | 287.36M |
| Gross Profit | 398.61M | 394.67M | 349.89M | 346.71M | 304.68M | 270.23M |
| EBITDA | 127.08M | 133.07M | 105.26M | 143.72M | 86.19M | 60.44M |
| Net Income | 95.95M | 97.94M | 75.63M | 103.53M | 59.18M | 43.16M |
Balance Sheet | ||||||
| Total Assets | 8.57B | 8.49B | 8.10B | 7.88B | 7.43B | 5.67B |
| Cash, Cash Equivalents and Short-Term Investments | 413.73M | 1.12B | 620.44M | 996.12M | 880.50M | 1.24B |
| Total Debt | 119.42M | 36.68M | 114.92M | 515.90M | 792.11M | 162.01M |
| Total Liabilities | 7.39B | 7.33B | 7.06B | 7.00B | 6.66B | 5.14B |
| Stockholders Equity | 1.18B | 1.15B | 1.04B | 877.20M | 774.54M | 524.04M |
Cash Flow | ||||||
| Free Cash Flow | 65.51M | 103.97M | 95.71M | 120.91M | 94.72M | 109.65M |
| Operating Cash Flow | 72.76M | 111.48M | 101.12M | 125.18M | 96.92M | 113.11M |
| Investing Cash Flow | -491.96M | -330.20M | -80.87M | -327.28M | -538.12M | -293.92M |
| Financing Cash Flow | 211.55M | 255.39M | 116.31M | 337.94M | 116.27M | 647.30M |
FirstSun Capital Bancorp Technical Analysis
Positive
39.12
Price Trends
37.32
Positive
37.50
Positive
37.32
Positive
Market Momentum
0.51
Negative
63.27
Neutral
81.23
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FSUN, the sentiment is Positive. The current price of 39.12 is above the 20-day moving average (MA) of 36.98, above the 50-day MA of 37.32, and above the 200-day MA of 37.32, indicating a bullish trend. The MACD of 0.51 indicates Negative momentum. The RSI at 63.27 is Neutral, neither overbought nor oversold. The STOCH value of 81.23 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FSUN.
FirstSun Capital Bancorp Risk Analysis
FirstSun Capital Bancorp disclosed 73 risk factors in its most recent earnings report. FirstSun Capital Bancorp reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
Issuance of shares of our common stock in connection with the merger may adversely affect the market price of our common stock. Q4, 2025
2.
Stockholder litigation could prevent or delay the completion of the merger or otherwise negatively impact our business and operations. Q4, 2025
3.
Our business needs and future growth may require us to raise additional capital, but that capital may not be available or may be dilutive. Q4, 2025
FirstSun Capital Bancorp Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $1.05B | 8.86 | 10.19% | 2.59% | 3.92% | 25.09% | |
77 Outperform | $1.19B | 11.49 | 13.37% | 1.70% | 6.23% | 2.16% | |
70 Outperform | $1.11B | 9.69 | 9.93% | 2.43% | 5.91% | 17.81% | |
68 Neutral | $950.57M | 9.94 | 8.49% | 4.59% | -6.76% | -18.82% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | $1.52B | 11.76 | 8.43% | ― | 6.06% | 9.55% | |
65 Neutral | $1.24B | 8.58 | 14.15% | 3.49% | 1.77% | 119.62% |
* Financial Sector Average
FSUN
FirstSun Capital Bancorp
34.48
-2.52
-6.81%
SBSI
Southside Bancshares
31.95
3.58
12.62%
UVSP
Univest Of Pennsylvania
37.63
7.70
25.71%
FMBH
First Mid-Illinois Bancshares
41.79
5.83
16.20%
AMAL
Amalgamated Bank
39.68
9.75
32.56%
BHRB
Burke & Herbert Bank & Company
61.47
5.91
10.64%
FirstSun Capital Bancorp Corporate Events
Business Operations and StrategyExecutive/Board ChangesM&A TransactionsRegulatory Filings and Compliance
FirstSun Capital Completes Merger, Reshapes Governance Structure
Positive
Apr 1, 2026
On April 1, 2026, FirstSun Capital Bancorp completed its all-stock merger with First Foundation Inc., with First Foundation and its bank subsidiary folded into FirstSun and Sunflower Bank, respectively, at an exchange ratio of 0.16083 FirstSun sha...
Business Operations and StrategyM&A TransactionsRegulatory Filings and Compliance
FirstSun Capital Bancorp Gains Final Approval for Merger
Positive
Mar 12, 2026
On March 12, 2026, FirstSun Capital Bancorp and First Foundation Inc. said they had received final U.S. bank regulatory approvals, including from the Federal Reserve and the Office of the Comptroller of the Currency, for First Foundation’s m...
Business Operations and StrategyM&A TransactionsShareholder Meetings
FirstSun Shareholders Approve Key Proposals for Merger
Positive
Feb 27, 2026
On February 27, 2026, FirstSun Capital Bancorp stockholders approved four key proposals at a special meeting related to its planned merger with First Foundation Inc., including adoption of the October 27, 2025 merger agreement under which First Fo...
Business Operations and StrategyM&A TransactionsRegulatory Filings and ComplianceShareholder Meetings
FirstSun Capital Bancorp Merger Gains OCC Approval Milestone
Positive
Feb 25, 2026
FirstSun Capital Bancorp and First Foundation Inc., both diversified U.S. banking and wealth management providers, serve retail, commercial, and high-net-worth clients through multi-state branch networks and extensive digital and mortgage platform...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.