Baker Avenue Asset Management LP Makes New Investment in Capital One Financial Corporation (NYSE:COF)

Key Points

• Baker Avenue Asset Management has acquired a new stake in Capital One Financial, purchasing 1,224 shares valued at approximately $219,000 during the first quarter.
• Capital One Financial reported earnings of $5.48 per share, significantly exceeding the consensus estimate of $1.93, while revenue was $12.49 billion, slightly below expectations.
• The company announced a quarterly dividend of $0.60 per share, with an annualized yield of 1.2%, reflecting a payout ratio of 123.08%.

Baker Avenue Asset Management LP bought a new stake in Capital One Financial Corporation (NYSE:COF - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,224 shares of the financial services provider's stock, valued at approximately $219,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC increased its stake in Capital One Financial by 21.6% in the 4th quarter. FMR LLC now owns 8,077,886 shares of the financial services provider's stock valued at $1,440,449,000 after buying an additional 1,436,935 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Capital One Financial by 23.7% during the 1st quarter. Bank of New York Mellon Corp now owns 4,961,063 shares of the financial services provider's stock valued at $889,519,000 after buying an additional 950,415 shares in the last quarter. Northern Trust Corp boosted its stake in Capital One Financial by 21.8% during the fourth quarter. Northern Trust Corp now owns 4,433,401 shares of the financial services provider's stock valued at $790,564,000 after buying an additional 793,765 shares during the period. Invesco Ltd. grew its stake in Capital One Financial by 38.7% in the 4th quarter. Invesco Ltd. now owns 4,117,444 shares of the financial services provider's stock worth $734,223,000 after buying an additional 1,148,443 shares in the last quarter. Finally, Lone Pine Capital LLC purchased a new position in Capital One Financial in the fourth quarter worth $577,012,000. Institutional investors own 89.84% of the company's stock.

Capital One Financial Stock Performance

Capital One Financial stock traded up $0.83 during midday trading on Wednesday, hitting $212.83. The stock had a trading volume of 3,185,866 shares, compared to its average volume of 4,065,449. Capital One Financial Corporation has a 52-week low of $131.55 and a 52-week high of $232.45. The company has a market capitalization of $81.54 billion, a PE ratio of 109.14, a P/E/G ratio of 0.83 and a beta of 1.16. The firm's fifty day moving average is $207.83 and its two-hundred day moving average is $192.93. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.47.

Capital One Financial (NYSE:COF - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $5.48 EPS for the quarter, beating analysts' consensus estimates of $1.93 by $3.55. The business had revenue of $12.49 billion for the quarter, compared to the consensus estimate of $12.72 billion. During the same period in the prior year, the business earned $3.14 earnings per share. Capital One Financial's revenue was up 31.4% compared to the same quarter last year. On average, research analysts forecast that Capital One Financial Corporation will post 15.65 EPS for the current year.

Capital One Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, August 15th. Capital One Financial's payout ratio is 123.08%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on COF shares. Royal Bank Of Canada upped their price target on shares of Capital One Financial from $240.00 to $255.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company boosted their price target on Capital One Financial from $225.00 to $265.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Truist Financial boosted their target price on Capital One Financial from $225.00 to $260.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Citigroup lifted their target price on shares of Capital One Financial from $250.00 to $275.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, JPMorgan Chase & Co. raised their target price on Capital One Financial from $245.00 to $248.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $238.81.

Insider Transactions at Capital One Financial

In related news, Director Ann F. Hackett sold 1,658 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $198.70, for a total value of $329,444.60. Following the sale, the director directly owned 56,244 shares in the company, valued at approximately $11,175,682.80. The trade was a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert M. Alexander sold 10,114 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $227.86, for a total value of $2,304,576.04. Following the transaction, the insider directly owned 68,707 shares of the company's stock, valued at approximately $15,655,577.02. The trade was a 12.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,847 shares of company stock valued at $5,696,173. 1.26% of the stock is currently owned by corporate insiders.

Capital One Financial Profile

Capital One Financial Corporation operates as the financial services holding company for the Capital One, National Association, which engages in the provision of various financial products and services in the United States, Canada, and the United Kingdom. It operates through three segments: Credit Card, Consumer Banking, and Commercial Banking.