Eldred Rock Partners LLC Takes Position in Capital One Financial Corporation $COF

Key Points

• Eldred Rock Partners LLC has acquired a new stake in Capital One Financial Corporation, purchasing 85,664 shares valued at approximately $18.23 million, making it the firm's second largest position.
• Capital One recently reported an EPS of $5.48 for Q2, significantly surpassing estimates, while its revenue increased by 31.4% year-over-year, totaling $12.49 billion.
• The company has also announced a $0.60 quarterly dividend, with a payout ratio of 123.08%, reflecting strong institutional ownership at 89.84%.

Eldred Rock Partners LLC purchased a new stake in shares of Capital One Financial Corporation (NYSE:COF - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 85,664 shares of the financial services provider's stock, valued at approximately $18,226,000. Capital One Financial makes up 5.5% of Eldred Rock Partners LLC's investment portfolio, making the stock its 2nd largest position.

A number of other large investors have also added to or reduced their stakes in COF. Brighton Jones LLC grew its holdings in Capital One Financial by 330.1% during the 4th quarter. Brighton Jones LLC now owns 13,587 shares of the financial services provider's stock valued at $2,423,000 after purchasing an additional 10,428 shares in the last quarter. State of Wyoming acquired a new position in Capital One Financial during the 4th quarter worth $187,000. Teza Capital Management LLC acquired a new position in Capital One Financial during the 4th quarter worth $252,000. Woodline Partners LP acquired a new position in Capital One Financial during the 4th quarter worth $4,085,000. Finally, Williams Jones Wealth Management LLC. acquired a new position in Capital One Financial during the 4th quarter worth $227,000. 89.84% of the stock is owned by institutional investors and hedge funds.

Capital One Financial Stock Performance

Capital One Financial stock traded down $1.61 during mid-day trading on Friday, reaching $228.13. The company had a trading volume of 4,825,233 shares, compared to its average volume of 2,808,706. Capital One Financial Corporation has a 52 week low of $143.22 and a 52 week high of $232.45. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.47. The company has a 50 day moving average of $218.68 and a 200-day moving average of $197.67. The firm has a market cap of $145.89 billion, a price-to-earnings ratio of 116.99, a PEG ratio of 0.88 and a beta of 1.17.

Capital One Financial (NYSE:COF - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $5.48 EPS for the quarter, beating the consensus estimate of $1.93 by $3.55. The company 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 firm earned $3.14 EPS. Capital One Financial's quarterly revenue was up 31.4% compared to the same quarter last year. On average, sell-side analysts expect that Capital One Financial Corporation will post 15.65 EPS for the current fiscal year.

Capital One Financial Dividend Announcement

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

Analysts Set New Price Targets

COF has been the subject of several recent analyst reports. Rothschild & Co Redburn initiated coverage on shares of Capital One Financial in a report on Friday, August 1st. They set a "buy" rating and a $290.00 price objective for the company. Citigroup lifted their price target on shares of Capital One Financial from $250.00 to $275.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Wells Fargo & Company boosted their target price 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. Keefe, Bruyette & Woods boosted their price target on shares of Capital One Financial from $248.00 to $260.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Finally, Wall Street Zen downgraded shares of Capital One Financial from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Capital One Financial has a consensus rating of "Moderate Buy" and a consensus price target of $239.44.

Insider Activity

In related news, insider Robert M. Alexander sold 10,114 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were 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 owned 68,707 shares in the company, valued at $15,655,577.02. This trade represents a 12.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Timothy P. Golden sold 207 shares of the firm's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $215.41, for a total transaction of $44,589.87. Following the completion of the sale, the chief accounting officer owned 8,780 shares of the company's stock, valued at $1,891,299.80. The trade was a 2.30% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have 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.