Engineers Gate Manager LP Buys 163,195 Shares of Capital One Financial Corporation $COF

Key Points

• Engineers Gate Manager LP increased its Capital One stake by 480.4% in the second quarter, acquiring 163,195 additional shares for a total holding of 197,168 shares valued at approximately $39.6 million.
• Analyst sentiment remains favorable, with 21 Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $258.91, despite several recent target adjustments.
• Capital One reported quarterly EPS of $5.81, beating estimates by $1.02, while revenue rose 26.9% year over year to $15.83 billion; the company also maintains a quarterly dividend of $0.80 per share.

Engineers Gate Manager LP lifted its stake in Capital One Financial Corporation (NYSE:COF - Free Report) by 480.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 197,168 shares of the financial services provider's stock after acquiring an additional 163,195 shares during the quarter. Capital One Financial makes up approximately 0.5% of Engineers Gate Manager LP's investment portfolio, making the stock its 26th largest position. Engineers Gate Manager LP's holdings in Capital One Financial were worth $39,556,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Evolution Wealth Management Inc. boosted its position in Capital One Financial by 529.4% during the fourth quarter. Evolution Wealth Management Inc. now owns 107 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 90 shares during the last quarter. Solstein Capital LLC acquired a new position in shares of Capital One Financial during the 2nd quarter worth approximately $26,000. VSM Wealth Advisory LLC bought a new stake in shares of Capital One Financial during the 4th quarter worth approximately $27,000. Cherry Tree Wealth Management LLC raised its stake in shares of Capital One Financial by 1,312.5% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 113 shares of the financial services provider's stock worth $27,000 after purchasing an additional 105 shares in the last quarter. Finally, Ballast Advisors LLC acquired a new stake in Capital One Financial in the first quarter valued at $27,000. Institutional investors and hedge funds own 89.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on COF. Bank of America cut their price objective on Capital One Financial from $234.00 to $231.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Wall Street Zen downgraded shares of Capital One Financial from a "buy" rating to a "hold" rating in a report on Sunday, August 2nd. Weiss Ratings raised Capital One Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, August 13th. Wolfe Research lifted their price objective on shares of Capital One Financial from $255.00 to $275.00 and gave the company an "outperform" rating in a research note on Tuesday, August 25th. Finally, Barclays decreased their target price on 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. Twenty-one investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Capital One Financial has a consensus rating of "Moderate Buy" and a consensus price target of $258.91.

Insider Buying and Selling

In other news, insider Michael Zamsky sold 5,473 shares of the business's stock in a transaction dated 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 transaction, the insider directly owned 27,992 shares of the company's stock, valued at $6,102,815.84. The trade was a 16.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Matthew Cooper sold 3,500 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $214.10, for a total value of $749,350.00. Following the sale, the general counsel directly owned 83,194 shares of the company's stock, valued at $17,811,835.40. This represents a 4.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 29,767 shares of company stock worth $6,366,998 over the last three months. Insiders own 0.78% of the company's stock.

Capital One Financial Price Performance

Capital One Financial stock opened at $211.29 on Thursday. The stock's 50 day moving average is $212.56 and its 200 day moving average is $198.16. Capital One Financial Corporation has a one year low of $174.24 and a one year high of $259.64. The firm has a market cap of $129.62 billion, a P/E ratio of 13.07, a P/E/G ratio of 0.79 and a beta of 1.02. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.02 and a quick ratio of 1.02.

Capital One Financial (NYSE:COF - Get Free Report) last released its earnings results on Tuesday, July 21st. The financial services provider reported $5.81 earnings per share for the quarter, beating analysts' consensus estimates of $4.79 by $1.02. Capital One Financial had a net margin of 13.37% and a return on equity of 11.28%. The business had revenue of $15.83 billion during the quarter, compared to the consensus estimate of $15.76 billion. During the same quarter in the prior year, the firm posted $5.48 EPS. The company's revenue for the quarter was up 26.9% compared to the same quarter last year. As a group, research analysts expect that Capital One Financial Corporation will post 20.29 EPS for the current year.

Capital One Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were given a $0.80 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $3.20 annualized dividend and a dividend yield of 1.5%. Capital One Financial's dividend payout ratio (DPR) is 19.80%.

Capital One Financial 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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