BUZZ-FirstSun Capital rated 'overweight' as Piper Sandler starts coverage

Piper Sandler starts coverage of regional lender FirstSun Capital Bancorp FSUN.O with an "overweight" rating and $51 PT, a 22.9% upside to stock's last close

Brokerage says it views FSUN's above-average exposure to commercial and industrial loans as more valuable as it brings lower cost deposits

Says that FSUN has strong growth prospects with an ability to gain share in higher growth markets

Piper Sandler expects likely insider selling by some long-standing private equity shareholders in the coming weeks or months to improve FSUN's stock float

Floating shares refer to the company's stock that is available for trade on the open market, excluding restricted shares

Stocks having a higher float are usually less volatile, and vice versa

All two brokerages covering the stock rate FSUN "buy"; their median PT is $46.50, according to data compiled by LSEG

FSUN stock up 3.6% YTD