Capital One Financial Corporation $COF Shares Purchased by State Street Corp

Key Points

• State Street more than doubled its Capital One stake in the second quarter, adding 29.7 million shares to own 57.3 million shares, or approximately 9.34% of COF. Institutional investors collectively hold 89.84% of the company.
• Capital One reported stronger-than-expected quarterly results, with EPS of $5.81 versus the $4.79 consensus and revenue of $15.83 billion, up 26.9% year over year. The company also maintains a quarterly dividend of $0.80 per share, yielding about 1.6% annually.
• Analyst sentiment remains broadly positive: 21 analysts rate the stock Buy and three rate it Hold, producing a “Moderate Buy” consensus and an average price target of $258.91. COF recently traded at $201.16, while insiders have sold $7.2 million of shares over the past three months.

State Street Corp lifted its stake in shares of Capital One Financial Corporation (NYSE:COF) by 107.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,278,732 shares of the financial services provider's stock after purchasing an additional 29,724,829 shares during the quarter. State Street Corp owned about 9.34% of Capital One Financial worth $11,491,259,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Capital One Financial by 0.5% during the second quarter. BlackRock Inc. now owns 51,054,869 shares of the financial services provider's stock valued at $10,242,628,000 after buying an additional 236,643 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Capital One Financial by 5.4% in the 4th quarter. Franklin Resources Inc. now owns 12,476,462 shares of the financial services provider's stock valued at $3,023,795,000 after acquiring an additional 638,158 shares during the last quarter. Norges Bank acquired a new position in shares of Capital One Financial in the 4th quarter worth approximately $2,089,803,000. Bank of America Corp DE bought a new stake in shares of Capital One Financial in the 2nd quarter worth approximately $1,435,311,000. Finally, Wellington Management Group LLP boosted its holdings in Capital One Financial by 36.2% during the second quarter. Wellington Management Group LLP now owns 7,108,112 shares of the financial services provider's stock worth $1,426,029,000 after buying an additional 1,887,497 shares in the last quarter. Institutional investors own 89.84% of the company's stock.

Insiders Place Their Bets

In related news, insider Celia Karam sold 2,017 shares of the company's stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $206.07, for a total transaction of $415,643.19. Following the sale, the insider directly owned 57,696 shares of the company's stock, valued at $11,889,414.72. This represents a 3.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lia Dean sold 2,066 shares of the company's stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $206.07, for a total value of $425,740.62. Following the sale, the insider directly owned 61,195 shares in the company, valued at $12,610,453.65. This represents a 3.27% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 33,850 shares of company stock valued at $7,208,382. Insiders own 0.78% of the company's stock.

Analyst Upgrades and Downgrades

COF has been the topic of several recent analyst reports. Piper Sandler initiated coverage on Capital One Financial in a report on Monday, June 29th. They set an "overweight" rating and a $254.00 price objective on the stock. Barclays lowered their price objective on shares of Capital One Financial from $242.00 to $240.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 22nd. Wolfe Research increased their target price on shares of Capital One Financial from $255.00 to $275.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 25th. Wall Street Zen downgraded Capital One Financial from a "buy" rating to a "hold" rating in a research note on Sunday, August 2nd. Finally, JPMorgan Chase & Co. boosted their price target on Capital One Financial from $215.00 to $245.00 and gave the company an "overweight" rating in a research note on Monday, July 13th. Twenty-one equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $258.91.

Capital One Financial Price Performance

Shares of NYSE:COF traded down $3.76 during trading on Tuesday, reaching $201.16. The stock had a trading volume of 1,187,978 shares, compared to its average volume of 4,721,146. The business has a fifty day moving average price of $213.07 and a 200-day moving average price of $198.50. The stock has a market cap of $123.41 billion, a PE ratio of 12.46, a PEG ratio of 0.75 and a beta of 1.02. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.02 and a current ratio of 1.02. Capital One Financial Corporation has a 1-year low of $174.24 and a 1-year high of $259.64.

Capital One Financial (NYSE:COF - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $5.81 EPS for the quarter, topping the consensus estimate of $4.79 by $1.02. Capital One Financial had a return on equity of 11.28% and a net margin of 13.37%.The business had revenue of $15.83 billion for the quarter, compared to analyst estimates of $15.76 billion. During the same quarter in the previous year, the firm earned $5.48 EPS. The company's quarterly revenue was up 26.9% compared to the same quarter last year. On average, equities analysts forecast that Capital One Financial Corporation will post 20.3 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 1st. Shareholders of record on Monday, August 17th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Monday, August 17th. Capital One Financial's dividend payout ratio is 19.80%.

Capital One Financial Company Profile

Capital One Financial Corporation NYSE: COF is a diversified financial services company headquartered in McLean, Virginia. Founded in 1994, the company initially built its business as a credit card issuer and has since expanded into consumer banking, commercial banking and payments.

Capital One offers a range of credit card products for consumers and businesses, along with deposit accounts, savings products, auto loans and other consumer lending services. Through its commercial banking operations, the company provides financing, treasury management and related services to commercial real estate clients, middle-market companies and other businesses.

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

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