Capital One Financial Corporation $COF Shares Sold by Procyon Advisors LLC

Key Points

• Procyon Advisors LLC significantly reduced its stake in Capital One Financial Corporation by 92.8%, leaving them with just 1,628 shares valued at $346,000 at the end of the second quarter.
• Capital One reported a quarterly earnings per share of $5.48, exceeding analyst expectations by $3.55, with a revenue of $12.49 billion, although slightly below anticipated figures.
• The company declared a quarterly dividend of $0.60 per share, resulting in an annualized yield of 1.0%, with an unusually high payout ratio of 123.08% reflecting significant shareholder returns.

Procyon Advisors LLC reduced its position in Capital One Financial Corporation (NYSE:COF - Free Report) by 92.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,628 shares of the financial services provider's stock after selling 20,941 shares during the quarter. Procyon Advisors LLC's holdings in Capital One Financial were worth $346,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in COF. Diamond Hill Capital Management Inc. acquired a new stake in Capital One Financial in the first quarter worth about $381,848,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Capital One Financial by 45.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,677,128 shares of the financial services provider's stock worth $838,609,000 after purchasing an additional 1,454,595 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Capital One Financial by 23.7% in the 1st quarter. Bank of New York Mellon Corp now owns 4,961,063 shares of the financial services provider's stock worth $889,519,000 after purchasing an additional 950,415 shares in the last quarter. Nuveen LLC acquired a new position in Capital One Financial during the 1st quarter valued at approximately $141,599,000. Finally, Goldman Sachs Group Inc. increased its stake in Capital One Financial by 18.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,766,573 shares of the financial services provider's stock valued at $854,647,000 after purchasing an additional 734,939 shares in the last quarter. Institutional investors and hedge funds own 89.84% of the company's stock.

Insider Activity at Capital One Financial

In related news, insider Michael Zamsky sold 5,515 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $209.59, for a total value of $1,155,888.85. Following the completion of the sale, the insider owned 27,364 shares of the company's stock, valued at approximately $5,735,220.76. The trade was a 16.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert M. Alexander sold 10,114 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $227.86, for a total transaction of $2,304,576.04. Following the transaction, the insider directly owned 68,707 shares in the company, 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. Insiders sold a total of 21,298 shares of company stock worth $4,679,844 over the last 90 days. 1.26% of the stock is owned by insiders.

Capital One Financial Stock Performance

COF traded down $1.61 on Friday, reaching $228.13. The stock had a trading volume of 4,825,233 shares, compared to its average volume of 2,808,706. The business's 50-day moving average price is $218.68 and its two-hundred day moving average price is $197.59. The company has a market cap of $145.89 billion, a P/E ratio of 116.99, a price-to-earnings-growth ratio of 0.88 and a beta of 1.17. Capital One Financial Corporation has a 12-month low of $143.22 and a 12-month high of $232.45. 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 earnings results on Tuesday, July 22nd. The financial services provider reported $5.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $3.55. The firm had revenue of $12.49 billion for the quarter, compared to analysts' expectations of $12.72 billion. During the same period in the previous year, the company earned $3.14 earnings per share. The company's revenue was up 31.4% compared to the same quarter last year. Sell-side analysts forecast that Capital One Financial Corporation will post 15.65 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 2nd. Stockholders of record on Friday, August 15th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 15th. Capital One Financial's dividend payout ratio is presently 123.08%.

Analysts Set New Price Targets

COF has been the topic of a number of research analyst reports. Truist Financial boosted their price objective on shares of Capital One Financial from $260.00 to $270.00 and gave the company a "buy" rating in a report on Friday, September 12th. Wall Street Zen downgraded Capital One Financial from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Redburn Atlantic upgraded shares of Capital One Financial to a "strong-buy" rating in a report on Friday, August 1st. TD Cowen upgraded shares of Capital One Financial from a "hold" rating to a "buy" rating and lifted their price objective for the company from $184.00 to $258.00 in a research note on Tuesday, July 8th. Finally, Citigroup increased their price objective on shares of Capital One Financial from $250.00 to $275.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Capital One Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $239.44.

About Capital One Financial

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.