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Mollie H. Carter, Executive Chair of FirstSun Capital Bancorp (NASDAQ:CBNK) (NASDAQ:FSUN), executed a significant stock transaction on March 12. Carter sold 1,025,450 shares of common stock at a price of $37.06 per share, totaling approximately $38 million. The transaction comes as FirstSun, currently valued at $1.05 billion, trades at a P/E ratio of 14.1. According to InvestingPro analysis, the stock appears overvalued at its current price of $38.45.
In addition to the sale, Carter acquired shares through various trusts. A total of 1,025,450 shares were purchased at the same price of $37.06 per share, also amounting to around $38 million. These transactions were carried out through the Twin Meadow VHC Trust, Wood Racket Trust FBO Mollie H. Carter, Mollie Hale Carter Trust Agreement, and Orion VHC Trust FBO Mollie Hale Carter Family. Carter serves as either trustee or co-trustee for these trusts, with her or her immediate family members as beneficiaries. InvestingPro data shows FirstSun maintains a GOOD financial health score, with high shareholder yield and consistent profitability over the last twelve months. Subscribers can access 3 additional ProTips and comprehensive insider trading analysis.
In other recent news, FirstSun Capital Bancorp reported its fourth-quarter results for 2024, which exceeded expectations from both Raymond (NSE:RYMD) James and consensus estimates. This strong performance was characterized by robust revenue growth and a decrease in core noninterest expenses. However, FirstSun’s forecast indicates a slower pace in loan and deposit growth alongside a rise in noninterest expense growth compared to earlier projections. Despite these adjustments, Raymond James remains optimistic, raising its price target for FirstSun to $46 and maintaining an Outperform rating.
Additionally, Piper Sandler initiated coverage on FirstSun with an Overweight rating and a price target of $51, citing the bank’s potential for growth and market share gains. The firm also projects earnings per share of $3.54 for 2025 and $3.90 for 2026. In corporate governance news, Christopher C. Casciato resigned from FirstSun’s board of directors, effective December 19, 2024, with no disagreements cited. Casciato represented Lightyear Fund III, L.P., and his departure does not appear to result from any internal conflict. The company has yet to announce a successor to Casciato on the board.
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