Bronte Capital Management Pty Ltd. Acquires 11,829 Shares of Capital One Financial Corporation $COF

Key Points

• Bronte Capital Management increased its stake in Capital One Financial by 6.7% in the first quarter, buying 11,829 additional shares and bringing its total holding to 187,369 shares worth about $34.2 million.
• Wall Street analysts remain broadly positive on COF, with a Moderate Buy consensus and an average price target of $260.19, despite some recent target cuts.
• Capital One reported Q1 earnings of $4.42 per share, missing expectations, while revenue of $15.23 billion also came in below estimates; the company also paid a quarterly dividend of $0.80 per share.

Bronte Capital Management Pty Ltd. boosted its holdings in shares of Capital One Financial Corporation (NYSE:COF - Free Report) by 6.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 187,369 shares of the financial services provider's stock after acquiring an additional 11,829 shares during the quarter. Capital One Financial comprises 3.6% of Bronte Capital Management Pty Ltd.'s holdings, making the stock its 9th largest holding. Bronte Capital Management Pty Ltd.'s holdings in Capital One Financial were worth $34,182,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COF. Evolution Wealth Management Inc. lifted its position in Capital One Financial by 529.4% in the fourth quarter. Evolution Wealth Management Inc. now owns 107 shares of the financial services provider's stock valued at $26,000 after buying an additional 90 shares during the last quarter. VSM Wealth Advisory LLC acquired a new stake in shares of Capital One Financial during the fourth quarter valued at about $27,000. Cherry Tree Wealth Management LLC raised its stake in shares of Capital One Financial by 1,312.5% in the 4th quarter. Cherry Tree Wealth Management LLC now owns 113 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 105 shares during the period. Osterweis Capital Management Inc. purchased a new stake in shares of Capital One Financial in the 4th quarter valued at approximately $29,000. Finally, CrossGen Wealth LLC acquired a new position in shares of Capital One Financial in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 89.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on COF. Weiss Ratings reiterated a "hold (c)" rating on shares of Capital One Financial in a report on Wednesday, June 24th. Argus lowered their price target on Capital One Financial from $260.00 to $250.00 and set a "buy" rating for the company in a research report on Thursday, April 23rd. Evercore dropped their price objective on Capital One Financial from $265.00 to $222.00 and set an "outperform" rating for the company in a research note on Monday, April 6th. Deutsche Bank Aktiengesellschaft cut their price objective on Capital One Financial from $256.00 to $250.00 and set a "hold" rating on the stock in a report on Wednesday, April 22nd. Finally, TD Cowen lowered their target price on Capital One Financial from $290.00 to $260.00 and set a "buy" rating for the company in a report on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, Capital One Financial has an average rating of "Moderate Buy" and an average price target of $260.19.

Insiders Place Their Bets

In other news, General Counsel Matthew W. Cooper sold 3,500 shares of the company's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $183.93, for a total transaction of $643,755.00. Following the completion of the transaction, the general counsel directly owned 97,194 shares of the company's stock, valued at approximately $17,876,892.42. This represents a 3.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Celia Karam sold 1,749 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $192.58, for a total value of $336,822.42. Following the completion of the transaction, the insider owned 61,579 shares in the company, valued at approximately $11,858,883.82. The trade was a 2.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.78% of the company's stock.

Capital One Financial Price Performance

Shares of NYSE COF opened at $204.94 on Friday. The stock's 50-day moving average is $191.01 and its two-hundred day moving average is $204.84. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.03 and a quick ratio of 1.03. Capital One Financial Corporation has a 1-year low of $174.24 and a 1-year high of $259.64. The company has a market cap of $127.53 billion, a price-to-earnings ratio of 71.91, a price-to-earnings-growth ratio of 0.74 and a beta of 1.02.

Capital One Financial (NYSE:COF - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $4.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.08 by ($0.66). The company had revenue of $15.23 billion during the quarter, compared to analysts' expectations of $15.68 billion. Capital One Financial had a net margin of 4.29% and a return on equity of 10.59%. The business's quarterly revenue was up 52.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.06 EPS. Analysts forecast that Capital One Financial Corporation will post 19.53 EPS for the current fiscal year.

Capital One Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 19th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, May 19th. Capital One Financial's payout ratio is 112.28%.

Capital One Financial Company 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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