Deroy & Devereaux Private Investment Counsel Inc. Acquires 37,840 Shares of Capital One Financial Corporation $COF

Key Points

• Deroy & Devereaux increased its Capital One stake by 21.8% in the third quarter, buying 37,840 shares to reach 211,336 shares valued at approximately $40.8 million.
• Institutional investors own 89.84% of Capital One, while insiders have sold 37,664 shares worth about $7.9 million over the past quarter.
• Capital One reported quarterly EPS of $6.69, beating estimates by $1.16, with revenue up 6.4% year over year; analysts maintain a “Moderate Buy” consensus and an average price target of $256.32.

Deroy & Devereaux Private Investment Counsel Inc. raised its stake in Capital One Financial Corporation (NYSE:COF - Free Report) by 21.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 211,336 shares of the financial services provider's stock after buying an additional 37,840 shares during the period. Capital One Financial makes up about 1.8% of Deroy & Devereaux Private Investment Counsel Inc.'s investment portfolio, making the stock its 12th largest holding. Deroy & Devereaux Private Investment Counsel Inc.'s holdings in Capital One Financial were worth $40,803,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of COF. State Street Corp boosted its position in shares of Capital One Financial by 107.9% in the 2nd quarter. State Street Corp now owns 57,278,732 shares of the financial services provider's stock valued at $11,491,259,000 after purchasing an additional 29,724,829 shares during the period. BlackRock Inc. raised its holdings in Capital One Financial by 0.5% during the 2nd quarter. BlackRock Inc. now owns 51,054,869 shares of the financial services provider's stock worth $10,242,628,000 after buying an additional 236,643 shares during the period. Bank of America Corp DE acquired a new stake in Capital One Financial during the 2nd quarter worth about $1,435,311,000. Wellington Management Group LLP lifted its stake 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 valued at $1,426,029,000 after buying an additional 1,887,497 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Capital One Financial by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 5,621,240 shares of the financial services provider's stock valued at $1,127,733,000 after buying an additional 187,532 shares in the last quarter. Institutional investors own 89.84% of the company's stock.

Insiders Place Their Bets

In related news, insider Michael Zamsky sold 5,473 shares of the business's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $218.02, for a total value of $1,193,223.46. Following the completion of the sale, the insider owned 27,992 shares of the company's stock, valued at approximately $6,102,815.84. The trade was a 16.35% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Matthew Cooper sold 3,500 shares of the stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $196.22, for a total value of $686,770.00. Following the completion of the transaction, the general counsel owned 79,694 shares in the company, valued at $15,637,556.68. This represents a 4.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 37,664 shares of company stock worth $7,914,162 in the last quarter. Corporate insiders own 0.78% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Citigroup increased their target price on Capital One Financial from $280.00 to $285.00 and gave the company a "buy" rating in a report on Wednesday, October 21st. Piper Sandler lifted their price target on Capital One Financial from $260.00 to $269.00 and gave the company an "overweight" rating in a report on Wednesday, October 21st. BTIG Research upped their price target on Capital One Financial from $224.00 to $259.00 and gave the company a "buy" rating in a research report on Tuesday, June 30th. TD Cowen increased their price objective on Capital One Financial from $242.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, October 21st. Finally, Evercore set a $220.00 price objective on Capital One Financial in a research report on Thursday, October 1st. Twenty analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $256.32.

Capital One Financial Price Performance

COF opened at $202.34 on Tuesday. The stock has a fifty day moving average price of $206.25 and a 200 day moving average price of $202.74. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45. Capital One Financial Corporation has a 1 year low of $174.24 and a 1 year high of $259.64. The stock has a market cap of $124.13 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 0.93 and a beta of 1.04.

Capital One Financial (NYSE:COF - Get Free Report) last issued its earnings results on Tuesday, October 20th. The financial services provider reported $6.69 earnings per share for the quarter, topping the consensus estimate of $5.53 by $1.16. Capital One Financial had a return on equity of 11.64% and a net margin of 13.70%. The company had revenue of $16.31 billion for the quarter, compared to analyst estimates of $16.25 billion. During the same period in the prior year, the firm posted $5.95 EPS. The business's revenue was up 6.4% compared to the same quarter last year. Analysts forecast that Capital One Financial Corporation will post 21.28 EPS 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. Stockholders of record on Monday, August 17th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Monday, August 17th. Capital One Financial's payout ratio is currently 18.89%.

Capital One Financial Profile

Capital One Financial Corporation is a diversified financial services company headquartered in McLean, Virginia. Founded in 1994, the company operates as a bank holding company through Capital One, N.A., providing financial products and services to consumers, small businesses and commercial customers.

Capital One is best known for its credit card business, which offers a range of consumer and business cards. Its other activities include consumer banking products such as checking and savings accounts, auto loans and retail banking services, as well as commercial banking services for businesses and institutions.

The company primarily serves customers in the United States through digital channels, branches and other distribution networks.

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