Capital One Financial Corporation $COF Shares Bought by Truist Financial Corp

Key Points

• Truist Financial Corp increased its stake in Capital One by 172.1% during the second quarter, acquiring a total of 548,441 shares valued at approximately $116.7 million.
• Capital One Financial reported earnings per share (EPS) of $5.48 for the quarter, significantly exceeding the consensus estimate of $1.93, although revenue of $12.49 billion fell slightly short of expectations.
• The firm's stock is currently down 5.0%, with a market capitalization of $135.90 billion and a PE ratio of 108.97, indicating fluctuations in investor sentiment amid recent trading activity.

Truist Financial Corp raised its stake in shares of Capital One Financial Corporation (NYSE:COF) by 172.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 548,441 shares of the financial services provider's stock after purchasing an additional 346,877 shares during the period. Truist Financial Corp owned 0.14% of Capital One Financial worth $116,686,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Moisand Fitzgerald Tamayo LLC grew its stake in Capital One Financial by 103.3% in the 2nd quarter. Moisand Fitzgerald Tamayo LLC now owns 122 shares of the financial services provider's stock valued at $26,000 after buying an additional 62 shares in the last quarter. Signature Resources Capital Management LLC purchased a new position in Capital One Financial in the 2nd quarter valued at approximately $28,000. WPG Advisers LLC purchased a new position in Capital One Financial in the 1st quarter valued at approximately $25,000. Saudi Central Bank purchased a new position in Capital One Financial in the 1st quarter valued at approximately $27,000. Finally, First United Bank & Trust purchased a new position in Capital One Financial in the 2nd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 89.84% of the company's stock.

Capital One Financial Stock Down 5.0%

Shares of NYSE:COF opened at $212.50 on Wednesday. Capital One Financial Corporation has a 52-week low of $143.22 and a 52-week high of $232.45. The firm has a fifty day moving average of $219.34 and a 200 day moving average of $200.23. The firm has a market capitalization of $135.90 billion, a PE ratio of 108.97, a price-to-earnings-growth ratio of 0.86 and a beta of 1.17. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.02 and a current ratio of 1.02.

Capital One Financial (NYSE:COF - Get Free Report) last announced 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 company had revenue of $12.49 billion during the quarter, compared to analysts' expectations of $12.72 billion. During the same quarter last year, the firm posted $3.14 earnings per share. The firm's revenue was up 31.4% on a year-over-year basis. As a group, research analysts anticipate that Capital One Financial Corporation will post 15.65 EPS for the current fiscal year.

Capital One Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 15th were given a $0.60 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.40 annualized dividend and a yield of 1.1%. Capital One Financial's payout ratio is 123.08%.

Analysts Set New Price Targets

COF has been the subject of a number of recent research reports. Evercore ISI lifted their price objective on shares of Capital One Financial from $240.00 to $255.00 and gave the company an "outperform" rating in a research note on Tuesday. Wells Fargo & Company lifted their price objective on shares of Capital One Financial from $225.00 to $265.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Rothschild & Co Redburn began coverage on shares of Capital One Financial in a research report on Friday, August 1st. They set a "buy" rating and a $290.00 price target for the company. Keefe, Bruyette & Woods boosted their price target on shares of Capital One Financial from $248.00 to $260.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. Finally, TD Cowen upgraded shares of Capital One Financial from a "hold" rating to a "buy" rating and boosted their price target for the company from $184.00 to $258.00 in a research report on Tuesday, July 8th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $244.29.

Insider Activity at Capital One Financial

In related news, General Counsel Matthew W. Cooper sold 2,000 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $223.40, for a total value of $446,800.00. Following the completion of the transaction, the general counsel directly owned 100,486 shares in the company, valued at approximately $22,448,572.40. The trade was a 1.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert M. Alexander sold 10,114 shares of the business's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $227.86, for a total transaction of $2,304,576.04. Following the completion of the sale, the insider directly owned 68,707 shares of the company's stock, valued at $15,655,577.02. This represents a 12.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,298 shares of company stock valued at $4,679,844 over the last ninety days. 1.26% of the stock is currently owned by insiders.

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.

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