FirstSun Capital rated 'overweight' as Piper Sandler starts coverage

Firstsun Capital Bancorp

21/02/2025 13:11

** Piper Sandler starts coverage of regional lender FirstSun
Capital Bancorp  FSUN.O  with an "overweight" rating and $51 PT,
a 22.9% upside to stock's last close
    ** Brokerage says it views FSUN's above-average exposure to
commercial and industrial loans as more valuable as it brings
lower cost deposits 
    ** Says that FSUN has strong growth prospects with an
ability to gain share in higher growth markets     
    ** Piper Sandler expects likely insider selling by some
long-standing private equity shareholders in the coming weeks or
months to improve FSUN's stock float
    ** Floating shares refer to the company's stock that is
available for trade on the open market, excluding restricted
shares
    ** Stocks having a higher float are usually less volatile,
and vice versa
    ** All two brokerages covering the stock rate FSUN "buy";
their median PT is $46.50, according to data compiled by LSEG
    ** FSUN stock up 3.6% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))