Raymond James on FirstSun Capital Bancorp (FSUN): 'Bumping EPS Higher'

Raymond James analyst Michael Rose reiterated an Outperform rating and $44.00 price target on FirstSun Capital Bancorp (NASDAQ: FSUN).

The analyst comments "We reiterate our Outperform rating on FSUN shares post 4Q25 results that exceeded our forecasts/consensus on both a core EPS/PPNR basis. Positively, greater than forecast NIM fueled upside in net interest income, which, combined with stronger fee income (fueled by mortgage, loan syndication, and swap fees) and lower credit costs (as credit metrics improved) fueled the EPS upside. However, a decline in loans, minimal deposit growth, and higher than forecast noninterest expenses weighed on results, its initial standalone 2026 outlook (which implies modest positive operating leverage) is generally in line to better than our prior expectations. That said, investor focus remains on its pending acquisition of FFWM (link) where we continue to model a mid-year close which, combined with generally stronger 4Q25 results, drives a modest increase in our out-year EPS estimate (detailed below). In turn, we continue to view risk-reward positively where shares trade at just 7.5x 2027E EPS but where management needs to deliver/execute on planned actions and that several of the potential revenue synergies projected with the deal in order to get broader buy in from the investment community and see shares re-rate higher."

For an analyst ratings summary and ratings history on FirstSun Capital Bancorp click here. For more ratings news on FirstSun Capital Bancorp click here.

Shares of FirstSun Capital Bancorp closed at $37.81 yesterday.

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