Breakwater Capital Group Buys 7,368 Shares of Capital One Financial Corporation $COF

Key Points

• Breakwater Capital Group increased its Capital One stake by 373.4% in the third quarter, purchasing 7,368 additional shares for a total holding of 9,341 shares valued at approximately $1.8 million.
• Institutional ownership remains high at 89.84%, with State Street more than doubling its position and Berkshire Hathaway, Bank of America, Legal & General, and Canada Pension Plan Investment Board establishing new stakes.
• Capital One exceeded quarterly earnings expectations, reporting $5.81 in EPS and $15.83 billion in revenue. Analysts maintain a “Moderate Buy” consensus with a $257.77 average price target, while the company pays a $0.80 quarterly dividend.

Breakwater Capital Group grew its stake in Capital One Financial Corporation (NYSE:COF - Free Report) by 373.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,341 shares of the financial services provider's stock after buying an additional 7,368 shares during the period. Breakwater Capital Group's holdings in Capital One Financial were worth $1,803,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp raised its stake in Capital One Financial by 107.9% in the 2nd quarter. State Street Corp now owns 57,278,732 shares of the financial services provider's stock worth $11,491,259,000 after acquiring an additional 29,724,829 shares during the last quarter. Bank of America Corp DE purchased a new stake in Capital One Financial during the 2nd quarter valued at about $1,435,311,000. Legal & General Group Plc acquired a new position in shares of Capital One Financial in the second quarter valued at about $680,983,000. Berkshire Hathaway Inc acquired a new position in shares of Capital One Financial in the second quarter valued at about $601,860,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Capital One Financial in the second quarter worth about $482,718,000. 89.84% of the stock is currently owned by institutional investors and hedge funds.

Capital One Financial Trading Up 1.7%

Capital One Financial stock opened at $199.32 on Friday. The firm has a market cap of $122.28 billion, a PE ratio of 12.33, a P/E/G ratio of 0.72 and a beta of 1.04. Capital One Financial Corporation has a 12 month low of $174.24 and a 12 month high of $259.64. The stock's 50 day simple moving average is $210.37 and its two-hundred day simple moving average is $199.66. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39.

Capital One Financial (NYSE:COF - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $5.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $15.83 billion for the quarter, compared to the consensus estimate of $15.76 billion. During the same period in the prior year, the firm posted $5.48 earnings per share. The firm's quarterly revenue was up 26.9% compared to the same quarter last year. Analysts anticipate that Capital One Financial Corporation will post 20.33 earnings per share for the current year.

Capital One Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were given a dividend of $0.80 per share. The ex-dividend date was Monday, August 17th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.6%. Capital One Financial's dividend payout ratio (DPR) is 19.80%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wolfe Research upped their target price on Capital One Financial from $255.00 to $275.00 and gave the company an "outperform" rating in a research report on Tuesday, August 25th. Barclays reduced their price target on shares of Capital One Financial from $240.00 to $237.00 and set an "overweight" rating for the company in a research report on Monday. Piper Sandler lifted their price objective on shares of Capital One Financial from $254.00 to $260.00 and gave the company an "overweight" rating in a research note on Monday, September 28th. Wall Street Zen downgraded shares of Capital One Financial from a "buy" rating to a "hold" rating in a report on Sunday, August 2nd. Finally, HSBC raised shares of Capital One Financial from a "hold" rating to a "buy" rating and raised their target price for the stock from $226.00 to $229.00 in a report on Sunday, July 12th. Twenty research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $257.77.

Insider Transactions at Capital One Financial

In other Capital One Financial news, insider Michael Zamsky sold 5,473 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $218.02, for a total transaction of $1,193,223.46. Following the transaction, the insider owned 27,992 shares in the company, valued at approximately $6,102,815.84. This represents a 16.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Timothy P. Golden sold 3,487 shares of the firm's stock in a transaction that occurred on Wednesday, July 29th. The shares were 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 directly owned 7,429 shares in the company, valued at approximately $1,567,519. The trade was a 31.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 33,850 shares of company stock worth $7,167,152 over the last quarter. Company insiders own 0.78% of the company's stock.

Capital One Financial Company Profile

Capital One Financial Corp. is a diversified financial services company headquartered in McLean, Virginia. Founded in 1994, the company provides credit cards, consumer banking products, auto financing and commercial banking services through its Capital One brand.

Capital One offers credit cards for consumers and businesses, checking and savings accounts, certificates of deposit, personal loans and auto loans. Its commercial banking operations serve businesses, institutions and commercial real estate clients with lending, deposit, treasury management and other financial services.

Capital One primarily serves customers in the United States, with additional operations in Canada and the United Kingdom.

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