Regional banking company FirstSun Capital Bancorp (NASDAQ: FSUN) will be reporting results this Monday afternoon. Here’s what to look for.
FirstSun Capital Bancorp missed analysts’ revenue expectations last quarter, reporting revenues of $101.7 million, up 10.1% year on year. It was a slower quarter for the company, with a narrow beat of analysts’ EPS estimates.
Is FirstSun Capital Bancorp a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting FirstSun Capital Bancorp’s revenue to grow 80.9% year on year, improving from the 6.4% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings.
Looking at FirstSun Capital Bancorp’s peers in the regional banks segment, some have already reported their Q2 results, giving us a hint as to what we can expect. OFG Bancorp delivered year-on-year revenue growth of 4.5%, beating analysts’ expectations by 3.9%, and Hilltop Holdings reported revenues up 7.5%, topping estimates by 3.4%. OFG Bancorp traded up 4.2% following the results while Hilltop Holdings was also up 3%.
Read our full analysis of OFG Bancorp’s results here and Hilltop Holdings’s results here.
Investors in the regional banks segment have had steady hands going into earnings, with share prices flat over the last month. FirstSun Capital Bancorp is down 10.1% during the same time and is heading into earnings with an average analyst price target of $44.50 (compared to the current share price of $34.45).
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