Capital One Financial Corporation $COF Stake Trimmed by Wealthfront Advisers LLC

Key Points

• Wealthfront Advisers cut its Capital One stake by 6.1% in the second quarter, selling 5,752 shares and retaining 88,870 shares valued at approximately $17.8 million. Institutional investors collectively own 89.84% of COF.
• Analysts remain broadly positive, with 21 Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $259.36. HSBC upgraded the stock to Buy, while several firms made modestly lower target-price adjustments.
• Capital One reported quarterly earnings of $5.81 per share, beating estimates of $4.79, while revenue rose 26.9% year over year to $15.83 billion. The company also declared a quarterly dividend of $0.80 per share, representing a 1.4% yield.

Wealthfront Advisers LLC lessened its stake in shares of Capital One Financial Corporation (NYSE:COF - Free Report) by 6.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 88,870 shares of the financial services provider's stock after selling 5,752 shares during the period. Wealthfront Advisers LLC's holdings in Capital One Financial were worth $17,829,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of Capital One Financial by 330.1% in the fourth quarter. Brighton Jones LLC now owns 13,587 shares of the financial services provider's stock worth $2,423,000 after buying an additional 10,428 shares during the period. Intech Investment Management LLC raised its holdings in shares of Capital One Financial by 44.3% during the first quarter. Intech Investment Management LLC now owns 8,968 shares of the financial services provider's stock valued at $1,608,000 after acquiring an additional 2,753 shares during the period. Sivia Capital Partners LLC lifted its position in shares of Capital One Financial by 118.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,300 shares of the financial services provider's stock valued at $702,000 after acquiring an additional 1,788 shares in the last quarter. Flow Traders U.S. LLC purchased a new stake in shares of Capital One Financial in the 2nd quarter valued at approximately $218,000. Finally, Jump Financial LLC acquired a new position in Capital One Financial in the 2nd quarter worth approximately $1,086,000. 89.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on COF shares. HSBC upgraded shares of Capital One Financial from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $226.00 to $229.00 in a research report on Sunday, July 12th. Argus decreased their target price 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. Barclays lowered their price target on Capital One Financial from $242.00 to $240.00 and set an "overweight" rating on the stock in a report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft dropped their price target on Capital One Financial from $256.00 to $250.00 and set a "hold" rating on the stock in a research report on Wednesday, April 22nd. Finally, Piper Sandler started coverage on Capital One Financial in a research note on Monday, June 29th. They issued an "overweight" rating and a $254.00 price objective for the company. Twenty-one analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $259.36.

Insider Activity at Capital One Financial

In related news, CAO Timothy P. Golden sold 3,487 shares of the company's stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $211.00, for a total value of $735,757.00. Following the completion of the sale, the chief accounting officer directly owned 7,429 shares in the company, valued at approximately $1,567,519. This represents a 31.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Matthew W. Cooper sold 3,500 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $208.00, for a total transaction of $728,000.00. Following the transaction, the general counsel directly owned 90,194 shares in the company, valued at $18,760,352. The trade was a 3.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 26,267 shares of company stock worth $5,617,648 over the last quarter. 0.78% of the stock is currently owned by corporate insiders.

Capital One Financial Trading Down 0.1%

Shares of NYSE COF opened at $221.23 on Wednesday. The stock has a market cap of $135.72 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 0.84 and a beta of 1.02. The business has a 50 day simple moving average of $206.52 and a 200 day simple moving average of $198.10. Capital One Financial Corporation has a 52 week low of $174.24 and a 52 week high of $259.64. 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 (NYSE:COF - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $5.81 earnings per share for the quarter, beating the consensus estimate of $4.79 by $1.02. The firm had revenue of $15.83 billion for the quarter, compared to analyst estimates of $15.76 billion. Capital One Financial had a net margin of 13.37% and a return on equity of 11.28%. The company's revenue for the quarter was up 26.9% on a year-over-year basis. During the same quarter last year, the firm earned $5.48 earnings per share. On average, research analysts predict that Capital One Financial Corporation will post 20.29 earnings per share for the current fiscal year.

Capital One Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be paid a dividend of $0.80 per share. The ex-dividend date is Monday, August 17th. This represents a $3.20 annualized dividend and a dividend yield of 1.4%. Capital One Financial's dividend payout ratio is 19.80%.

Capital One Financial 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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