Bank of America Corp DE Acquires 294,241 Shares of Capital One Financial Corporation $COF

Key Points

• Bank of America increased its Capital One stake by 4.6%, purchasing 294,241 shares to reach 6.74 million shares, worth approximately $1.23 billion and representing about 1.08% of COF.
• Capital One reported quarterly EPS of $5.81, exceeding the $4.79 consensus estimate, while revenue rose 26.9% year over year to $15.83 billion. The company also declared a quarterly dividend of $0.80 per share, yielding about 1.5% annually.
• Analysts maintain a favorable outlook, with 20 Buy ratings and four Holds, producing a “Moderate Buy” consensus and an average price target of $259.14. However, insiders sold 10,487 shares worth roughly $2.1 million over the past 90 days.

Bank of America Corp DE lifted its stake in Capital One Financial Corporation (NYSE:COF) by 4.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,739,970 shares of the financial services provider's stock after purchasing an additional 294,241 shares during the quarter. Bank of America Corp DE owned about 1.08% of Capital One Financial worth $1,229,573,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Evolution Wealth Management Inc. boosted its stake in Capital One Financial by 529.4% in the 4th quarter. Evolution Wealth Management Inc. now owns 107 shares of the financial services provider's stock worth $26,000 after purchasing an additional 90 shares in the last quarter. VSM Wealth Advisory LLC purchased a new stake in Capital One Financial during the 4th quarter valued at about $27,000. Cherry Tree Wealth Management LLC increased its stake in Capital One Financial by 1,312.5% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 113 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 105 shares in the last quarter. Osterweis Capital Management Inc. purchased a new position in Capital One Financial in the fourth quarter worth about $29,000. Finally, CrossGen Wealth LLC purchased a new position in Capital One Financial in the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 89.84% of the company's stock.

Insider Buying and Selling at Capital One Financial

In related news, General Counsel Matthew W. Cooper sold 3,500 shares of the company's stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $208.00, for a total value of $728,000.00. Following the completion of the transaction, the general counsel owned 90,194 shares of the company's stock, valued at approximately $18,760,352. This represents a 3.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Timothy P. Golden sold 3,487 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $211.00, for a total value of $735,757.00. Following the completion of the sale, the chief accounting officer owned 7,429 shares of the company's stock, valued at $1,567,519. The trade was a 31.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 10,487 shares of company stock worth $2,107,512 over the last 90 days. Insiders own 0.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Rothschild & Co Redburn cut their price target on shares of Capital One Financial from $290.00 to $275.00 and set a "buy" rating on the stock in a report on Wednesday, April 29th. The Goldman Sachs Group decreased their price objective on shares of Capital One Financial from $300.00 to $260.00 and set a "buy" rating for the company in a report on Tuesday, April 7th. UBS Group upped their price objective on Capital One Financial from $270.00 to $275.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. Truist Financial cut their target price on Capital One Financial from $275.00 to $255.00 and set a "buy" rating on the stock in a research note on Thursday, April 23rd. Finally, TD Cowen reduced their target price on Capital One Financial from $260.00 to $253.00 and set a "buy" rating for the company in a report on Tuesday, July 7th. Twenty analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $259.14.

Capital One Financial Stock Up 0.7%

COF stock opened at $210.18 on Friday. The business's 50-day moving average price is $197.29 and its 200-day moving average price is $198.95. The stock has a market cap of $128.94 billion, a P/E ratio of 13.01, a PEG ratio of 0.77 and a beta of 1.02. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.39. Capital One Financial Corporation has a twelve month low of $174.24 and a twelve month high of $259.64.

Capital One Financial (NYSE:COF - Get Free Report) last released its earnings results on Tuesday, July 21st. The financial services provider reported $5.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.79 by $1.02. Capital One Financial had a net margin of 13.37% and a return on equity of 11.28%. The company had revenue of $15.83 billion during the quarter, compared to analyst estimates of $15.76 billion. During the same period in the prior year, the firm posted $5.48 EPS. The firm's quarterly revenue was up 26.9% compared to the same quarter last year. On average, equities research analysts forecast that Capital One Financial Corporation will post 20.19 EPS for the current year.

Capital One Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Monday, August 17th. Capital One Financial's dividend payout ratio (DPR) is presently 19.80%.

Capital One Financial Profile

Capital One Financial Corporation NYSE: COF is a diversified bank holding company headquartered in McLean, Virginia. The company's core businesses include credit card lending, consumer and commercial banking, and auto finance. Capital One issues a wide range of credit card products for consumers and small businesses, and it operates deposit and digital banking services aimed at retail customers and small to midsize enterprises.

Products and services include credit and charge cards, checking and savings accounts (including the online-focused Capital One 360 platform), auto loans, and commercial lending solutions.

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