Kingstone Capital Partners Texas LLC Buys 117,427,549 Shares of Capital One Financial Corporation $COF

Key Points

• Kingstone Capital Partners Texas LLC dramatically increased its holdings in Capital One Financial, acquiring 588,668.3% more shares, bringing its total ownership to about 30.65%, valued at approximately $24.99 billion.
• Capital One Financial reported a quarterly EPS of $5.48, significantly exceeding estimates, while revenue increased by 31.4% year-over-year despite slightly missing expectations.
• The company announced a $0.60 quarterly dividend, equating to an annual yield of 1.0%, but its payout ratio is relatively high at 123.08%.

Kingstone Capital Partners Texas LLC boosted its holdings in shares of Capital One Financial Corporation (NYSE:COF - Free Report) by 588,668.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,447,497 shares of the financial services provider's stock after purchasing an additional 117,427,549 shares during the period. Capital One Financial accounts for approximately 3.4% of Kingstone Capital Partners Texas LLC's holdings, making the stock its 9th largest holding. Kingstone Capital Partners Texas LLC owned approximately 30.65% of Capital One Financial worth $24,988,129,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. WPG Advisers LLC bought a new position in Capital One Financial in the 1st quarter valued at $25,000. Saudi Central Bank bought a new position in Capital One Financial in the 1st quarter valued at $27,000. Beacon Capital Management LLC boosted its position in Capital One Financial by 118.3% in the 1st quarter. Beacon Capital Management LLC now owns 179 shares of the financial services provider's stock valued at $32,000 after buying an additional 97 shares during the last quarter. Nova Wealth Management Inc. boosted its position in Capital One Financial by 629.6% in the 2nd quarter. Nova Wealth Management Inc. now owns 197 shares of the financial services provider's stock valued at $42,000 after buying an additional 170 shares during the last quarter. Finally, Family Legacy Financial Solutions LLC bought a new position in Capital One Financial in the 2nd quarter valued at $42,000. 89.84% of the stock is owned by institutional investors and hedge funds.

Capital One Financial Trading Down 0.7%

COF stock traded down $1.61 during midday trading on Friday, hitting $228.13. 4,825,233 shares of the company's stock were exchanged, compared to its average volume of 2,808,706. The stock's fifty day moving average price is $218.68 and its 200-day moving average price is $197.67. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market cap of $145.89 billion, a PE 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 one year low of $143.22 and a one year high of $232.45.

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

Capital One Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.40 annualized dividend and a dividend yield of 1.1%. Capital One Financial's dividend payout ratio (DPR) is currently 123.08%.

Analyst Upgrades and Downgrades

COF has been the topic of a number of recent research reports. Wells Fargo & Company increased their price objective on Capital One Financial from $225.00 to $265.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Royal Bank Of Canada increased their price objective on 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. Citigroup increased their price objective on Capital One Financial from $250.00 to $275.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Rothschild & Co Redburn assumed coverage on Capital One Financial in a research report on Friday, August 1st. They issued a "buy" rating and a $290.00 price objective on the stock. Finally, Redburn Atlantic upgraded Capital One Financial to a "strong-buy" rating in a research report on Friday, August 1st. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $239.44.

Insider Transactions at Capital One Financial

In related news, General Counsel Matthew W. Cooper sold 2,000 shares of Capital One Financial stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $223.40, for a total value of $446,800.00. Following the sale, the general counsel owned 100,486 shares of the company's stock, valued at approximately $22,448,572.40. The trade was a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Zamsky sold 5,515 shares of Capital One Financial stock in a transaction dated 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 directly owned 27,364 shares in the company, valued at approximately $5,735,220.76. This represents a 16.77% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,298 shares of company stock worth $4,679,844. Company insiders own 1.26% of the company's stock.

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.