Federated Hermes Inc. Reduces Stock Position in Capital One Financial Corporation (NYSE:COF)

Key Points

• Federated Hermes Inc. reduced its holdings in Capital One Financial by 39.8%, selling 331,049 shares during the first quarter, resulting in ownership of approximately 0.13% of the company.
• Several large investors showed increased interest in Capital One Financial, with Geneos Wealth Management raising its holdings by 78%, and Picton Mahoney Asset Management increasing its stake by an astonishing 9,602.0%.
• Wall Street analysts have a positive outlook on Capital One, with a consensus rating of "Moderate Buy" and a price target averaging $235.40, following multiple upgrade recommendations from firms like Wells Fargo and Barclays.

Federated Hermes Inc. decreased its position in Capital One Financial Corporation (NYSE:COF - Free Report) by 39.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 500,323 shares of the financial services provider's stock after selling 331,049 shares during the quarter. Federated Hermes Inc. owned about 0.13% of Capital One Financial worth $89,708,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in COF. Beacon Capital Management LLC grew its position in Capital One Financial by 118.3% during the first quarter. Beacon Capital Management LLC now owns 179 shares of the financial services provider's stock worth $32,000 after buying an additional 97 shares in the last quarter. Motco grew its position in Capital One Financial by 115.1% during the first quarter. Motco now owns 256 shares of the financial services provider's stock worth $46,000 after buying an additional 137 shares in the last quarter. Bogart Wealth LLC grew its position in Capital One Financial by 1,518.8% during the first quarter. Bogart Wealth LLC now owns 259 shares of the financial services provider's stock worth $46,000 after buying an additional 243 shares in the last quarter. Rossby Financial LCC acquired a new stake in Capital One Financial during the first quarter worth approximately $48,000. Finally, Bernard Wealth Management Corp. acquired a new stake in Capital One Financial during the first quarter worth approximately $54,000. Institutional investors and hedge funds own 89.84% of the company's stock.

Wall Street Analysts Forecast Growth

COF has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on Capital One Financial from $245.00 to $248.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Wells Fargo & Company lifted their price objective 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. Royal Bank Of Canada lifted their price objective on shares of Capital One Financial from $240.00 to $255.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 23rd. Bank of America lifted their price objective on shares of Capital One Financial from $223.00 to $233.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Capital One Financial from $248.00 to $260.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $235.40.

Insider Activity at Capital One Financial

In related news, Director Ann F. Hackett sold 1,658 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $198.70, for a total transaction of $329,444.60. Following the transaction, the director owned 56,244 shares in the company, valued at $11,175,682.80. This represents a 2.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert M. Alexander sold 10,114 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $227.86, for a total transaction of $2,304,576.04. Following the completion of the transaction, the insider owned 68,707 shares in the company, valued at $15,655,577.02. The trade was a 12.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,332 shares of company stock worth $4,540,285 over the last quarter. Company insiders own 1.26% of the company's stock.

Capital One Financial Stock Down 0.1%

Shares of NYSE COF traded down $0.21 during midday trading on Thursday, hitting $215.02. The stock had a trading volume of 4,298,724 shares, compared to its average volume of 3,697,219. The business's 50 day moving average is $206.46 and its 200-day moving average is $192.45. The company has a market cap of $82.38 billion, a P/E ratio of 110.27, a PEG ratio of 0.85 and a beta of 1.15. Capital One Financial Corporation has a 52 week low of $128.23 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.

Capital One Financial (NYSE:COF - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $5.48 earnings per share for the quarter, beating analysts' consensus estimates of $1.93 by $3.55. The company had revenue of $12.49 billion for the quarter, compared to the consensus estimate of $12.72 billion. The firm's revenue for the quarter was up 31.4% on a year-over-year basis. During the same quarter last year, the company earned $3.14 EPS. As a group, analysts predict that Capital One Financial Corporation will post 15.65 EPS for the current year.

Capital One Financial Announces Dividend

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

About Capital One Financial

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.