Streetbeat News

FSUN

Firstsun Capital Bancorp

Industry

Monetary Authorities-Central Bank

Open

40.43

Mkt cap

1.1B

Volume

49K

High

40.47

P/E Ratio

12.99

52-wk high

44.37

Low

39.65

Div yield

N/A

52-wk low

33.00

FirstSun Capital Bancorp and HomeStreet are facing challenges as regulators are unwilling to approve their merger. The companies are now discussing potential termination terms if no alternative structure is feasible.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 9:41 pm

FirstSun Capital Bancorp reported a Q3 EPS of $0.84, excluding merger costs, down from $1.00 last year.

Portfolio Pulse from Benzinga Newsdesk

October 28, 2024 | 9:24 pm

Raymond James has initiated coverage on Firstsun Capital with a Market Perform rating, indicating a neutral outlook on the stock.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2024 | 1:06 pm

FirstSun reported its Q2 2024 adjusted earnings per share (EPS) at $0.90, a decrease from $1.11 year-over-year.

Portfolio Pulse from Benzinga Newsdesk

July 29, 2024 | 8:02 pm

FirstSun Capital Bancorp and HomeStreet have amended their merger agreement, increasing FirstSun's total equity capital raised by an additional $45M-$60M, up to $235M. The exchange ratio for HomeStreet shareholders has been revised to 0.3867 shares of FirstSun common stock, valuing each share at $13.53. The termination fee for HomeStreet has been reduced to $2.6M plus expenses under certain conditions. Post-merger, the banking operations will be under a Texas state charter, with Sunflower Bank converting to a Texas state chartered bank and seeking Federal Reserve System membership. FirstSun will issue $48.5M of subordinated debt to support Sunflower Bank's capital, and HomeStreet will sell approximately $300M of its Commercial Real Estate loans post-merger.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 9:39 pm

FirstSun Capital Bancorp (FSUN) and HomeStreet (HMST) have announced a strategic merger, creating a combined entity with assets of approximately $17 billion. The merger will result in a bank headquartered in Dallas, Texas, with a significant presence in 6 of the top 10 fastest-growing metropolitan statistical areas (MSAs) in the U.S. The combined company is expected to have strong performance metrics, including an estimated return on assets (ROA) of ~1.4% and return on average tangible common equity (ROATCE) of ~17%. The merger is anticipated to be highly accretive to FSUN's 2025 estimated earnings per share (EPS), with an increase of over 30%. Additionally, a $175 million equity raise, led by Wellington Management, has been fully committed to support the merger. The pro forma balance sheet of the combined entity is expected to be robust, with a high-quality deposit franchise and a neutral interest rate risk profile. The executive management team of the merged company will be highly experienced, with a track record of expertise in mergers and acquisitions (M&A).

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 11:33 am

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