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FirstSun Capital Bancorp
(NASDAQ:FSUN)
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Rating:70Outperform
Price Target:
$44.00
▲(27.57% Upside)
Action:Reiterated
Date:08/19/26
FSUN scores as a moderate-risk opportunity driven primarily by stable capitalization and improved leverage alongside positive technical momentum. The score is held back by profitability compression (lower margins/ROE) and credit-quality pressures discussed on the earnings call, while valuation (P/E ~24.5 with no stated dividend yield) offers limited cushion.
Positive Factors
Strong capitalization and low leverage
Solid capital ratios, a sizeable equity base and low leverage provide resilience against credit losses and support continued lending, integration spending and potential capital returns while the acquired franchise is repositioned.
Negative Factors
Credit quality deterioration
The sharp rise in criticized and non-performing loans increases provisioning risk and could constrain growth. Although concentrated in acquired assets and select sectors, remediation may weigh on earnings and capital over coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong capitalization and low leverage
Solid capital ratios, a sizeable equity base and low leverage provide resilience against credit losses and support continued lending, integration spending and potential capital returns while the acquired franchise is repositioned.
Read all positive factors
FirstSun Capital Bancorp (FSUN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.80B
Dividend YieldN/A
Average Volume (3M)310.33K
Price to Earnings (P/E)24.5
Beta (1Y)0.70
Revenue Growth27.40%
EPS Growth-37.23%
CountryUS
Employees1,210
SectorGeneral
Sector StrengthN/A
IndustryBanks - Regional
Share Statistics
EPS (TTM)1.67
Shares Outstanding43,950,367
10 Day Avg. Volume197,034
30 Day Avg. Volume310,334
Financial Highlights & Ratios
PEG Ratio0.35
Price to Book (P/B)0.91
Price to Sales (P/S)1.84
P/FCF Ratio10.08
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$45.25Price Target Upside31.20% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)3.43
Revenue Forecast (FY)$663.28M
FirstSun Capital Bancorp Business Overview & Revenue Model
Company Description
FirstSun Capital Bancorp functions as the parent entity for Sunflower Bank, offering a comprehensive suite of commercial and retail banking as well as financial solutions primarily to small and mid-sized businesses. Its deposit offerings include n...
How the Company Makes Money
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FirstSun Capital Bancorp Earnings Call Summary
Earnings Call Date:Jul 27, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 22, 2026
Earnings Call Sentiment Neutral
The call was mixed: management highlighted successful execution on the First Foundation acquisition integration, meaningful balance sheet repositioning, strong fee revenue growth, ahead-of-plan cost saves, solid capital ratios, and a new $150M buyback program. Offsetting these positives were a GAAP net loss driven by significant merger and credit-related charges, elevated provisions and charge-offs from two large loan losses, a notable increase in criticized and non-performing loans (largely within the acquired portfolio), NIM compression versus Q1, and lower new loan fundings. Management characterized credit issues as concentrated and borrower-specific rather than broad-based and expects margin, efficiency and credit metrics to normalize through H2 2026 into 2027 as integration and remediation actions complete.Positive Updates
Acquisition Integration and Balance Sheet Repositioning Completed
Completed acquisition of First Foundation (closed April 1) and executed planned balance sheet repositioning in Q2: reduced acquired assets by approximately $3.9 billion (including ~$1.4B securities and ~$1.3B loans) and reduced acquired funding by approximately $3.9 billion (including ~$2.2B broker deposits). Wholesale funding ratio ended Q2 at 6.8%, in line with legacy levels.
Negative Updates
Net Loss and Merger / Credit Charges
Reported a GAAP net loss of $23 million, or $0.49 per diluted share, in Q2. Results included substantial items: management cited ~$44M after-tax in merger-related expenses and elevated credit-related provisioning/charge-offs (CFO reported provision expense $40.4M and charge-offs $42.4M).
Read all updates
Q2-2026 Updates
Positive
Negative
Acquisition Integration and Balance Sheet Repositioning Completed
Completed acquisition of First Foundation (closed April 1) and executed planned balance sheet repositioning in Q2: reduced acquired assets by approximately $3.9 billion (including ~$1.4B securities and ~$1.3B loans) and reduced acquired funding by approximately $3.9 billion (including ~$2.2B broker deposits). Wholesale funding ratio ended Q2 at 6.8%, in line with legacy levels.
Read all positive updates
Company Guidance
Management guided to low-single-digit loan and deposit growth through year‑end 2026 (mid‑single‑digit growth in 2027), with an estimated $100M of multifamily runoff in H2 2026 and up to $285M in 2027; brokered maturities of ~$300M in H2 2026 (weighted rate 4.77%) and ~$340M in 2027 (4.83%) should provide repricing benefit. June NIM was 3.76% (up 29 bps vs April), and NIM is expected to rise slightly in Q3, to the mid‑380s bps in Q4 and into the high‑380s in Q1 2027 as cost of funds improves; wholesale funding was 6.8% at quarter end. They expect non‑interest income to be in the low‑20s percent of revenue, an adjusted efficiency ratio in the mid/low‑60s in H2 (Q4 in the low‑60s) with post‑conversion improvement to the high‑50s/low‑60s in early 2027, full‑year net charge‑offs in the high‑50s (with H2 annualized at mid‑teens by their math), and ACL/loans around 145–150 bps; capital priorities include a $150M share repurchase program over four quarters, a minimum operating CET1 target of ~11% (current CET1 11.95%), and Q2 realization of ~65% of the $68M targeted annualized cost saves.FirstSun Capital Bancorp Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
78
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 587.26M | 569.65M | 540.07M | 485.21M | 347.92M | 287.36M |
| Gross Profit | 326.16M | 394.67M | 349.89M | 346.71M | 304.68M | 270.23M |
| EBITDA | 73.09M | 133.07M | 105.26M | 143.72M | 86.19M | 60.44M |
| Net Income | 46.71M | 97.94M | 75.63M | 103.53M | 59.18M | 43.16M |
Balance Sheet | ||||||
| Total Assets | 15.72B | 8.49B | 8.10B | 7.88B | 7.43B | 5.67B |
| Cash, Cash Equivalents and Short-Term Investments | 989.51M | 1.12B | 620.44M | 996.12M | 880.50M | 1.24B |
| Total Debt | 222.73M | 36.68M | 114.92M | 515.90M | 792.11M | 162.01M |
| Total Liabilities | 13.88B | 7.33B | 7.06B | 7.00B | 6.66B | 5.14B |
| Stockholders Equity | 1.84B | 1.15B | 1.04B | 877.20M | 774.54M | 524.04M |
Cash Flow | ||||||
| Free Cash Flow | 1.16B | 103.97M | 95.71M | 120.91M | 94.72M | 109.65M |
| Operating Cash Flow | 1.16B | 111.48M | 101.12M | 125.18M | 96.92M | 113.11M |
| Investing Cash Flow | 2.99B | -330.20M | -80.87M | -327.28M | -538.12M | -293.92M |
| Financing Cash Flow | -3.94B | 255.39M | 116.31M | 337.94M | 116.27M | 647.30M |
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 0 New Risks
FirstSun Capital Bancorp Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $1.52B | 13.41 | 14.12% | 1.25% | 9.56% | 12.20% | |
77 Outperform | $975.32M | 12.88 | 8.89% | 4.21% | -4.09% | -9.75% | |
74 Outperform | $1.19B | 12.34 | 10.41% | 2.11% | 2.41% | 26.67% | |
73 Outperform | $1.46B | 11.54 | 10.37% | 3.12% | 3.09% | -9.19% | |
70 Outperform | $1.80B | 24.54 | 3.53% | ― | 27.40% | -37.23% | |
68 Neutral | $1.38B | 12.86 | 9.86% | 1.96% | 10.34% | 14.55% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
FSUN
FirstSun Capital Bancorp
40.44
4.00
10.98%
SBSI
Southside Bancshares
32.53
3.89
13.58%
UVSP
Univest Of Pennsylvania
42.95
13.66
46.64%
FMBH
First Mid-Illinois Bancshares
51.46
14.10
37.73%
AMAL
Amalgamated Bank
50.18
22.24
79.59%
BHRB
Burke & Herbert Bank & Company
72.36
14.14
24.28%
FirstSun Capital Bancorp Corporate Events
Business Operations and StrategyStock BuybackFinancial DisclosuresM&A Transactions
FirstSun Capital Bancorp Announces New Share Repurchase Program
Negative
Jul 27, 2026
FirstSun Capital Bancorp reported a net loss of $22.9 million, or $0.49 per diluted share, for the second quarter of 2026, versus net income of $26.4 million a year earlier, largely reflecting merger-related costs and two sizable commercial loan c...
Business Operations and StrategyFinancial DisclosuresLegal Proceedings
FirstSun Capital Warns of Large Second-Quarter Charge-Offs
Negative
Jul 9, 2026
FirstSun Capital Bancorp said its second-quarter 2026 results will be hit by significant charge-offs tied mainly to two commercial lending relationships. The bank cited an approximately $22.0 million charge-off on an asset-based loan to a material...
Business Operations and StrategyM&A Transactions
FirstSun Completes Municipal Loan Sale to Reposition Balance Sheet
Positive
Jun 25, 2026
On June 25, 2026, FirstSun Capital Bancorp announced that Sunflower Bank completed the sale of approximately $336 million of performing municipal loans, originally acquired from First Foundation Bank, to an unaffiliated third party. The municipal ...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
FirstSun Capital Holds Annual Meeting, Confirms Board and Auditor
Positive
Jun 5, 2026
FirstSun Capital Bancorp held its annual meeting of stockholders on June 5, 2026, where shareholders elected seven directors for one-year terms ending at the 2027 annual meeting and ratified Crowe LLP as the company’s independent auditor for...
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.